31
May 2024
Small business technology investment boost
About the boost Small businesses with an aggregated annual turnover of less than $50 million will be allowed an additional 20% tax deduction to support their digital operations and digitise their operations. The boost applies to eligible expenditure incurred between 7:30 pm AEDT on 29 March 2022 and 30 June 2024. The boost is for business expenses and depreciating assets and is capped at $100,000 of expenditure per income year. You can receive a
The method you use to charge for your products or services is critical to how much income you can generate and the extent of profit margin that’s created. What we are seeing: fixed fees that don’t cover the service delivery costs adopting competitor pricing that doesn’t reflect the real price hourly rates don’t work when you don’t record the time spent on the client/customer fixed-price long-term contracts becoming unviable with
29
Aug 2023
Selling your business? Get organised!
There may come a time in your business ownership journey when it’s time to cash in on all of your hard work and effort in building your business and pass the reins to the next owner. If you are considering selling your business, there are a few housekeeping tasks that you can undertake now, to help attract the best price for your business. 1. Premises If you lease your premises,
Capricorn Enterprise have released their latest Regional Economic Report which has been updated with recent unemployment, building and industry data from a variety of statistical sources. Highlights include the March quarter 2023 showing unemployment rates were still historically low (3.5%) and the number of persons in the labour force increased (67,921 persons). You can view the full report by clicking this link. And if you’re pressed for time, this easy
15
Aug 2023
What is the best business structure for you?
No matter what stage your business is in or the type of business you operate, it is critical to have the right business structure in place for many reasons, including to safeguard your personal and business assets, minimise risk and tax implications and optimise returns. Each business structure has its own benefits and risks as well as criteria and regulatory requirements, which should be considered before adopting a business structure
12
Dec 2022
MISS THE DEADLINE FOR DIRECTOR IDENTIFICATION NUMBER REGISTRATION? IT MAY NOT BE TOO LATE!
All company directors are required to register for a Director Identification Number (DIN), and with the original deadline of 30 November now passed, many company directors are left exposed to compliance action by the ATO. Just how many are you wondering? Current estimates are around 700,000…! The IDs are being introduced to crack down on “dummy directors” and company Phoenixing; an occurrence that sees an entity declare bankruptcy, insolvency, or
12
Dec 2022
MISS THE DEADLINE FOR DIRECTOR IDENTIFICATION NUMBER REGISTRATION? IT MAY NOT BE TOO LATE!
All company directors are required to register for a Director Identification Number (DIN), and with the original deadline of 30 November now passed, many company directors are left exposed to compliance action by the ATO. Just how many are you wondering? Current estimates are around 700,000…! The IDs are being introduced to crack down on “dummy directors” and company Phoenixing; an occurrence that sees an entity declare bankruptcy, insolvency, or
11
May 2022
Business Basics Grants
Round 3 of the Business Basics Grants are about to open, and it could be your chance to access a fixed $5,000 in funding to put towards access a range of business support! Business Criteria You must have fewer than 20 employees Have an active Australian Business Number (ABN) and be registered for GST Have an expected turnover of $300,000 or less for the current financial year (2021-22) Not have
11
May 2022
Business Basics Grants
Round 3 of the Business Basics Grants are about to open, and it could be your chance to access a fixed $5,000 in funding to put towards access a range of business support! Business Criteria You must have fewer than 20 employees Have an active Australian Business Number (ABN) and be registered for GST Have an expected turnover of $300,000 or less for the current financial year (2021-22) Not have
19
Jan 2022
Long term business survival
A new business starting today has <30% chance of being around in 10 years. This is a sobering statistic, and one which we would like to see improve. Through years of experience in seeing what not to do, in the work we do day to day, we have compiled some thoughts on how to best help your clients not become a statistic, we help our customer with social media and how