News (30)

Is Revenue Really The Be All and End All?

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We regularly have the discussion with clients about why the focus should not just on revenue.  Revenue is important, for sure, but we prefer to focus on a client’s bottom line.  The profits. Revenue numbers can make great headlines and business owners justifiably feel good about seeing their hard work reflected in the headline number. …

What is Your Why?

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We are very fortunate we get to meet lots of different people from different walks of life.  Being so lucky means, we have the opportunity to learn about what motivates people and the list if virtually endless. Some people visit us and have a long list of gripes about what they do for a living,…

Service Entities

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The use of service entities by professional practices is not uncommon and they can have significant benefits in a number of areas including separating professionals from administrative duties linked to running their business, and the protection of assets.   There can also be some nice taxation benefits potentially facilitating the splitting of income away from the…

Is the Customer Always Right?

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All organisations need to continually work hard to keep their customers happy because failing to do so has consequences.  In private enterprise there is the risk the customer may choose to spend their money elsewhere.  For government departments unhappy customers can take up a lot of time and resources trying to placate them.  For non-profits…

Is the Customer Always Right?

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Is the Customer Always Right?  There are lots of sales experts and marketing consultants who will tell us the customer is always right.  But are they? All organisations need to continually work hard to keep their customers happy because failing to do so has consequences.  In private enterprise there is the risk the customer may…

Will Automation Cause Unemployment To Rise?

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There is a view the ongoing increase in automation will eventually cause significant unemployment due to machines taking over jobs currently done by humans.  I’m happy to admit this is a topic which concerns me. We’ve all seen TV show and movies depicting a world where domestic duties, manufacturing, transport etc are virtually 100% automated. …

ATO Looking at Work-Related Deductions

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Over the past 12 months or so, there have been rumblings from the Australian Taxation Office (ATO) about work-related deductions being claimed by salary and wage employees so we thought we’d take a look at where they are coming from. Approximately 18 months ago, the ATO began a program of random audits reviewing work-related deductions…

More Can Now Claim Super Deductions

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Prior to 1 July 2017, very few people with salary and wage income were able to claim personal superannuation contributions as a deduction on their individual tax returns.  The reason was, a rule which prevented those with more than 10% of their income from sources which would require an employer to make contributions on their…

Which Bookkeeping Option is Best?

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A question we are regularly asked by both clients just starting out their business experience and those who took the plunge some time ago is what is the best software/option for bookkeeping? It’s a great question given the myriad of options.  Xero, MYOB, QuickBooks, Reckon, Saasu, Wave, Freshbooks, Cashbook Complete, excel spreadsheets, manual books.  So…

One Touch Payroll is Coming

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You may have seen recent media reporting about One Touch Payroll being introduced form 1 July this year.  So what is it and who is affected? One Touch Payroll is basically builds upon the growing trend of data sharing called Block Chain and is an evolution of payroll functions within accounting software building upon recent…