Business
Business owners – what is your end game?
Why do you own a business? It’s interesting to consider this because we are shocked at how many business owners haven’t taken the time to consider this fundamental question. From a big picture perspective, having a business provides you with a lifestyle. That’s it! It gives you cash now to fund your family spending, and […]
Success Accounting Group’s Super Stream Solution for Employers before 30 June 2016
As you are preparing for your BAS returns this quarter, now is a good time to also review if your business is Super stream compliant and aim to implement way before the deadline of 30 June 2016. Under SuperStream, you need to pay super contributions for your employees electronically (EFT or BPAY) and send the […]
FBT 2016: 5 Things Every Business Should Know
How do I Know if I need to pay FBT? What is exempt from FBT? And what to be aware of come 1 April 2016. Do you know that the FBT rate goes up from 47% to 49% from 1 April 2016? As an employer, we need to start reflecting this new rate in current […]
Unlock Your Business Profit – Part Three
Welcome to the last component of our series – 5 Key numbers to unlock your business profit. Today we will discuss working capital days and also introduce Spotlight Reporting. Working Capital Days Profit needs to turn into cash, and that is why we will also be measuring our Working Capital Days. Working capital days is […]
Unlock Your Business Profit – Part Two
This week we will be diving into part two of the Unlock Your Business series. Revenue Revenue, also known as income or sales, is a number that should be monitored ideally on a monthly basis. Similarly to “The One Number”, it is crucial not to just concentrate on revenue but the inputs that composes revenue. […]
Unlock Your Business Profit – Part One
Welcome to the five numbers that all business owners need to know. This series will be separated into 3 segments. The ONE Number and key life indicator Revenue and profit Working capital days and solution Today’s focus will be of identifying a number that represents the business and understanding that your business should be separate […]
Keeping your Business Alive
What’s your strategy to keep cash flowing through your business? There are two ways to improve how you manage your cash flow. The first is working capital management (managing stock, managing suppliers and debt recovery). The second, described here, is using cash flow forecasting. High sales and consistent profits are great aspects to have in […]
Writing a Business Plan
It may sound like a daunting assignment, but evidence suggests a well-written business plan contributes to a successful business. Why? Building a business from scratch can be challenging, therefore, creating a business plan compels you to systematically think through every aspect of your business and develop a solid blueprint to follow. A business plan will […]
Restructuring to Minimise Tax and Protect your Home
Small businesses with an annual turnover of less than $2 million will be able to change their legal structure without attracting a capital gain tax (CGT) liability. CGT roll-over relief is currently available for individuals who incorporate. This measure will be available from 1 July 2015. The Government is also reducing the tax rate for […]
How can my business claim the $20,000 deduction?
What does the $20,000 deduction involved? The Government has announced that businesses with a turnover of less than $2 million are eligible to immediately deduct as many assets that cost less than $20,000 and also acquired from 7:30pm, 12 May 2015 until 30 June 2017. If you are running a café, assets may include new […]