The Victorian Labour Hire Licensing Scheme is a new licensing system, implemented earlier this year to protect vulnerable labour hire workers from exploitation at the hands of labour hire services. This new system aims to regulate labour hire providers in Victoria, and will introduce new compliance obligations for those in this industry. However, it isn’t just providers who will be [...]
As we’re sure you know, cash flow is crucial in your business. If payments aren’t coming in on time, you won’t have enough money on hand to keep up with your overheads. So when you provide a service and the client doesn’t pay on time, it’s natural to feel irritated - in fact, many would say you have the right [...]
So you’ve come into a sudden increase in business and you want to share the love around with your staff. In addition to offering pay rises, you’ve also decided it would be a good gesture to start adding extras to their contracts as a small thank-you for all of their hard work. While all these extras might be doing wonders [...]
When people think about opening their own business, their minds tend to linger on a couple of things: The freedom to be their own boss How much money they’ll bring in The potential for future growth What prospective business owners don’t realise is that small business owners are some of the hardest-working people around – according to some surveys, more [...]
It’s hard to believe that it’s June already. And we all know what that means: it’s nearly tax time! While the idea might not exactly fill you with joy (though it does at our end!), filing your taxes is an important part of your responsibilities as a resident in Australia. Determining whether you need to file a tax return should [...]
Remember how much of a struggle it was to contact someone before mobile phones were everywhere? Or how you used to have to call the cinema to find out what was showing? Or how hard it was find out an obscure fact, or which actor is in that movie? Yes, technology has certainly made our lives a lot easier. And [...]
Unlike your personal tax return, businesses activities are subject to many additional tax obligations, depending on their operations. Even if you aren’t a business owner yourself, certain expenses incurred in the course of performing your job can impact your tax, as well as the deductions you’re eligible for. Long story short, business activities can result in your tax returns becoming [...]
The battlelines have been drawn. The attack ads are coming out. Funding promises are being made. With the date finally confirmed as Saturday, 18th May, Election Season is in full swing. Combine that with the recently-announced government budget, and it’s no wonder so many people are talking to tax accountants in Melbourne with questions about how their tax obligations and [...]
You’ve got a lot going on at the moment. Perhaps it’s a busy sales season, or you’ve just landed yourself a big client. It could even be something going on with your private life, such as planning for an upcoming holiday or a major purchase. And then you receive a letter. You open it, noticing the distinctive ATO letterhead and [...]
Division 7A: even the name sounds intimidating! As the owner or shareholder of a private company, it’s relatively normal (and completely legal) to receive or borrow money from your own business - assuming you do it properly, that is. Borrowing money from your own business comes with several unique accounting requirements. If these requirements aren’t followed, you may land yourself [...]
