What does the 2018 Federal Budget mean for Australian small business?

The Australian Federal Government have just released their budget for 2018, and although it was largely focused on individual tax rates, spending and aged incentives there is plenty of good news for small businesses too. Keep reading to find out how the budget might impact your business. The $20,000 instant asset write-off is back To the relief of many, the instant asset write-off has been extended for a further 12 months, meaning businesses can continue to claim a deduction for goods [...]

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The Small Business Superannuation Clearing House is joining ATO online services. Find out what it means for your business.

Since the introduction of SuperStream in Australia, the Small Business Superannuation Clearing House (SBSCH) has provided small businesses and sole traders with an easy option to make SuperStream compliant contributions. On 26 February 2018, the SBSCH will join existing Australian Tax Office (ATO) services. This means that once you have finished updating your bookkeeping for the period in Cashflow Manager you will only have to visit one place to share your information with the ATO. You will be able [...]

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Are you updating your accounting software regularly? 4 reasons you should be.

As the new year begins our thoughts usually turn to new beginnings and making resolutions. It’s a way of promising ourselves to improve in year ahead. That applies as much to your business as it does to your personal life. If you are starting the year with the intention of repeating what you did the year before and the year before that, then your business is stagnating not growing. It is important that you take the time to make [...]

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How will the abolition of the 457 visa impact small business?

This week, the Australian government pledged to remove and replace the 457 visa entirely, so what will this mean if you run a small business that relies on this category of workers? We expect that more details will be coming soon, but here is what the government has released so far. On 18 April, the government announced that the Temporary Work (skilled) visa or 457 visa will be abolished and replaced with the new temporary skill shortage visa (TSS) in March [...]

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Why are more Australians shopping small business?

Australians are beginning to realise that small businesses are a vital part of the nation’s economy, according to results from the second annual Westpac Australia Day Index. The results of the survey show that 9 out of 10 Australians are faithful to their local shops and around half will purchase from small businesses in order to help strengthen the nation’s economy. This is a pretty big change from 12 months ago when the average Australian consumer preferred to shop at bigger [...]

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