Do you know if your new worker is an employee or a contractor? When employing a worker, it’s important to correctly classify them because it affects tax, super or other obligations (such as workers compensation insurance or other workers’ entitlements). Correctly working out whether a worker is an employee or contractor helps to build a…
When preparing your online business tax return, there are a lot of things that you take into consideration. One of these things is how you use vehicles into your business. You may be a sole trader operating through a third-party driving company like Uber, or you may operate a driving business; whatever it may be,…
When you invest in a property, it’s hard to tell when you’ll be getting your investment back or if you’ll get your taxes back. In an investment property tax return, you’ll get back what you invested in the following terms. Earning money can sometimes feel like a never-ending cycle of making, saving, and spending, with…
One of the first and most important steps to take when you consider selling your business is to determine the value of your business and its assets to potential buyers. It is a sad fact, but less than half of business owners in Australia are aware of how much their business is worth in monetary…
Setting the right salary level for your employees is essential to finding the right people to help you run your business. However, it can be difficult to determine the most appropriate level based on your business and what it can afford while also being attractive to prospective employees. When setting pay levels, particularly for advertising…
Feel like you don’t want to go to work, but you’re the owner of the business? It happens to everyone that runs a business. Sometimes it is easier not to make decisions, pay the bills, handle a difficult customer, or deal with a problem employee. Even when everything is going well, some days you would…
One of the greatest complaints small employers have is how difficult it is to find good employees. But there’s one place they often fail to search for new job applicants – the families and friends of their best employees. After all, current employees who have great work attitudes probably have brothers and sisters with great…
A seasonal pricing strategy will help you minimise loss of cash flow in low periods and maximise profitability in peak seasons. Changing your pricing will help you capitalise on your target market’s spending habits. Remember that creating a supporting marketing campaign to bring awareness to your price change or seasonal deals will be critical in…
Simply put, marketing your services should consist primarily of four steps: Informing as many people as possible of your existence Leading them to develop an interest in your services Persuading them to meet with you Move from client enquiry to client engagement Here is a simple ten-point strategy for achieving these objectives: Emphasise Persuasion Making…
Throughout the financial year, there may be periods where your business finds itself facing a recurring problem with its cashflow. Small businesses with cash flow issues may find themselves more at risk of failing or suffering significant financial hardship – during these critical times in the business landscape, this is not an ideal situation. Cash…