Record keeping
Keeping good business records is important for a number of reasons. It assists you to:
■ comply with your tax and superannuation obligations
■ gain a greater insight into the financial health of your business, enabling you to make informed decisions
■ manage your cashflow
■ demonstrate your financial position to prospective nlenders, and also potential buyers of your business.
Salary sacrificing to super
Are you an employee thinking of putting some of your pre-tax income into superannuation to boost your retirement savings? This is known as salary sacrifice, and the good news is that it can benefit you and your employer.
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In-specie super contributions
Most contributions to a SMSF are made in cash, but did you know you can also contribute certain assets to your fund too?
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Your Business Structure
There are four main business structures – sole trader, company, trust, and partnership (or a combination of these).
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On-boarding new employees
With Australia now opening back up after the COVID restrictions, unemployment is tipped to fall to the lowest rate in just over 50 years – down to under 4%
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COVID-19 SMALL BUSINESS UPDATE
We hope that you are dealing with things as best you can during these testing times.
Read moreOur Management Credentials
