4 tips for checking the financial health of your business

When can you confidently say that your business is doing well financially? Of course, revenue alone is not an accurate indicator of your business’ financial health. To evaluate the financial health of a business, one would typically scrutinise its liquidity, solvency, profitability and operating efficiency. Regularly monitoring and analysing those components is good practice for any business […]

Business vouchers introduced Australia-wide to stimulate the economy

Australian states and territories have introduced business voucher systems in an effort to stimulate economic activity after the slowdown caused by the COVID-19 lockdown. Vouchers will be distributed to eligible participants to encourage spending, primarily at tourism and hospitality businesses. Here is a look at the different voucher systems and business eligibility in each state and territory […]

Hospitality Award: what you need to know

Employers must pay hospitality workers their wage and other entitlements within 7 days of termination under changes made to the Hospitality Industry (General Award).  Modern Awards are important documents that outline the conditions of employment for both employers and employees to follow. They cover entitlements including pay rates, working hours, allowances and penalty rates. These awards […]

Case Study #4 – Kate (NDIS)

Meet Kate*  Kate is a finance and accounting manager for an NGO that provides care for people with intellectual disabilities. It has been around for decades and has created a strong community. The NGO strives to give their clients opportunities to live their lives independently and to have the option to work while also receiving care […]

NDIS: dealing with the complexity of NDIS payroll

Since the introduction of the National Disability Insurance Scheme (NDIS), the disability services industry has been met with several challenges due to changes made to the nature of the work, workforce operations and payroll. Here are 5 challenges faced by disability services providers and how to deal with them. Photo by Nathan Anderson on Unsplash 1. […]

Annual Leave: Common mistakes for public holiday payroll

Leave entitlements are complicated enough on their own, but what happens when you throw public holidays into the mix? It is not uncommon for employers to get penalised or caught in legal problems due to oversight in employees’ rights. We have come up with a list of common mistakes when it comes to handling payrolls during […]

Tax Planning Opportunities from COVID-19 Federal Budget Measures

The COVID-19 Federal Budget announced on 6 October 2020 has given way to new measures that can create tax planning opportunities for businesses. This includes new loss carry back rules and temporary 100% instant depreciating asset write off. Photo by De an Sun on Unsplash Loss Carry Back Rules The new loss carry back rules […]

To-do: Christmas shutdown procedure for businesses

With Christmas right around the corner, you and your team are probably preparing for the holiday shutdown period and settling your annual leave.  That being said, the process is not as simple as closing your doors and turning off your lights, although those are definitely things you should do and not take lightly! Here is a […]

5 tips for preparing payroll during the Christmas period

The payroll procedure during the Christmas period is a little trickier than usual. But not to worry – these few tips should be able to get you sorted. Photo by Jonathan Borba on Unsplash 1. Get a plan going It’s always best to sort out administrative issues ahead of time, especially when heading into holiday […]