NSW Budget 2025: the impact for your small business
NSW Budget 2025 was delivered on 24 June, with NSW Treasurer, The Hon Daniel Mookhey MLC, making several announcements that will impact NSW-based businesses. Among more wide-reaching announcements about cost-of-living measures, infrastructure and education investment, the Treasurer outlined what this Budget delivered for business: “For the workers, managers, entrepreneurs, innovators, investors and businesses wanting to […]
How to claim tax deductible expenses as an individual
As an individual taxpayer, you know it’s mandatory to submit your annual tax return to the Australian Taxation Office (ATO) at the end of each financial year (ending each June). Did you know that you claim expenses against some of your work and personal expenses? Let’s look at what expenses you can claim and […]
Increasing your mental health support for employees
As a business owner, there’s a big emphasis on taking care of the physical health and safety of your employees. But what about the mental health and wellbeing of your team? A recent study by Peninsula surveyed 79,000 small to medium-sized businesses clients globally. The study spoke to 30,500 clients across Australia and New Zealand, […]
Keeping your tax and expenses in check when you are self-employed
Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits. Understand your deductions Before you start, it’s essential […]
Gen Z in a Boomer workplace?
Gen Z workers may not be able to slide seamlessly into a workplace that was designed for Baby Boomers. Managing Gen Z – those workers born between the late 90s and the early 2010s – is proving to be a challenge for even the most hardened people managers and supervisors. Some managers view Gen Z […]
Interest rates come down: how could this affect your business finances?
The Reserve Bank of Australia recently cut interest rates to 3.6%, down from 4.1%. This takes the cash rate to 3.6% for the first time since April 2023. The final impact of this drop can be both positive and negative for your small business, so it’s worth understanding the effect that interest rate changes can […]
The right to work from home: the potential impact for your employees and business
Having the option to work from home (WFH), without the commute and the cost, has proved to be a very popular benefit for many time-strapped employees. But until now, this ability to do your job from home has never been enshrined in law. This may be about to change, with Jacinta Allan’s Labor government proposing […]
The ATO’s new Tax Toolkit for small business owners
As an entrepreneur, one inescapable reality of running your business is remembering to pay taxes on the profits the company makes, and the earnings you make as a director. It’s the least glamorous and exciting part of managing the business, but it’s also a major responsibility, where the buck stops firmly at your desk as […]
Taxpayer’s claim for travel expenses denied
Gone are the days when a business’s sole purpose was to make a profit. While being profitable is important, your purpose is why you exist for your customers; your reason for being. Focusing on your customers’ needs results in better profitability.
Changes to tax return amendment period for business
Gone are the days when a business’s sole purpose was to make a profit. While being profitable is important, your purpose is why you exist for your customers; your reason for being. Focusing on your customers’ needs results in better profitability.