Whether at the beginning of their business venture or well down the line, at some point, most entrepreneurs and small business owners will find themselves in need of financing. Some entrepreneurs are looking for help getting their dreams off the ground, and others need help growing, expanding, or keeping things moving. Whatever the reason, a small business loan is often the solution many entrepreneurs need. But different loans require different steps, paperwork, and lead time

Ditching the boss and working for yourself freelancer can be one of the most rewarding career moves out there, but with all that added flexibility comes more responsibility at EOFY. For many freelancers, tax time is met with feelings of dread and complete confusion. Thankfully, navigating your way through a successful tax return is not as hard as it sounds, and with a little preparation you may be looking at a much bigger tax return than you first expected. Getting the most f

1. “I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life and that is why I succeed.” –Michael Jordan, NBA Legendary Basketball MVP 2. “Chase the vision, not the money; the money will end up following you.” –Tony Hsieh, Zappos CEO 3. “Trust your instincts.” –Estée Lauder, Founder, Estée Lauder 4. “Your work is going to fill a large p

Is your business missing out on essential accounting resources that could help it grow? Money—it’s how you measure success in business. It’s also how you pay the bills, pay your employees, and keep your business running. Unfortunately, many small business owners are selling themselves short by operating without essential accounting resources, according to a survey by Clutch. We've written recently about the importance of cash flow management for a small business and how your

Accountants are essentially paid for their skills, time, and the value they add to your business. The more organised you are, the less time it takes the accountant to get the work done. More importantly, it also means they can spend more time looking for opportunities to improve your business and fast track its growth. One of the biggest inefficiencies is when an accountant must revisit a job multiple times because they cannot get the information from clients to complete it.

Do you repair your own photocopier? While it’s a mechanical task that may be accomplished with the use of a manual, why do so few business owners do it? The answer is generally that they recognise that somebody else can do it more efficiently, reliably, and cost-effectively. So why do many overworked business owners take the reverse approach when it comes to business structure set up, tax planning, capital gains tax, financial analysis, and a host of other highly specialised

If you are new to business or expecting to make a profit for the first time, now may be a good time to enter into pay as you go (PAYG) instalments. PAYG instalments help you budget for future income tax payable on your business and investment income (known as instalment income). You make payments (usually each quarter) so you don’t end up having to pay a large tax bill at the end of the year. To enter into the PAYG instalments system voluntarily, you need to: use our PAYG ins

July 2018 overseas businesses that meet the GST registration threshold of A$75,000 will need to charge GST on goods that are: less than A$1,000 (low value) imported into Australia not GST-free (such as most basic food, alcohol, tobacco, or tobacco products). How will this affect you? You will be charged GST on low value goods that you import if you are: not registered for GST, or are GST registered but importing goods for personal use. You should not be charged GST if you: ar

If you buy an asset by 30 June and it costs less than $20,000, you can write off the business portion in your 2018 tax return. You are eligible to use simplified depreciation rules and claim an immediate deduction for the business portion of each asset (new or second hand) costing less than $20,000 if: you have a turnover less than $10 million (increased from $2 million on 1 July 2016), and the asset was first used or installed ready for use in the income year you are claimin