Insolvencies Increased by 61% In February 2021
Last month saw the number of insolvencies in Australia rise by 61%. The official statistics released by CreditorWatch indicate that insolvencies increased from 254 external administrations at the start of February to 408 administrations by the end of February 2021. With JobKeeper set to end on 28th March 2021, it is anticipated that the number […]
What to Do If You’ve Lost Your Tax File Number (TFN)
Your Tax File Number (TFN) is a crucial piece of information required for many different reasons. It’s much more than a simple reference number you need to use at tax time. Applying for government benefits, opening a new bank account and keeping track of your super savings will all require you to have access to […]
How to Use Your Tax to Plan for The Future
Young and middle-aged Australians might not often think about what their financial situation might be like once they reach old age. However, it is important to plan for your future and put away money overtime so that one day you can eventually retire. It can be difficult to plan for your future, especially if you […]
Tips for Family Business Succession Planning
Running a successful family business is no easy task. The statistics show that in Australia 70% of family businesses fail or sell before the second generation gets a chance to take over. Over 90% of family businesses sell or fail before the third generation gets to take over. Although these figures look dismal it is […]
Australia’s Unemployment Rate Has Dropped to 5.8%
In February 2021, Australia’s unemployment rate dropped from 6.3 percent down to 5.8 percent. This fall illustrates that Australia’s labour market is improving from the covid-19 pandemic a lot quicker than what most people anticipated. Over the past month an extra 88,700 people have found new jobs. This means that for the first time over […]
How to Make Your Business More Successful In 2021
Businesses around the world are having a tough time with the covid-19 pandemic. Here are some tips to help your business find the solutions to some of your biggest problems. Get the perspective of someone from outside your business On top of working with your staff to discuss how you can make your business more […]
Hundreds of Businesses Have Been Overpaid Under The JobKeeper Wage Subsidy
The Australian Tax Office (ATO) is reportedly still owed hundreds of millions of dollars from Australian businesses who have tried to rort the JobKeeper wage subsidy. Many of these businesses who have exploited the scheme have received payments despite being deemed ineligible and some businesses have been overpaid. Over the past few months the ATO […]
Marketing Tips to Grow Your Business In 2021
2020 was a difficult year for the majority of Australian businesses. Constant border closures, lockdowns and social distancing rules made it difficult for businesses to make a huge profit from their customers. Here are some tips to help improve your marketing strategy in a way that will build more meaningful relationships with your customers […]
The Financial Impact Snap Lockdowns Are Having on Australian Businesses
The Professional Accounting Body has called for Australia’s federal, state and territory governments to work together to create a national response for businesses that are impacted by future snap lockdowns whenever a new outbreak of covid-19 occurs. Keeping Australian citizens safe during the pandemic should be the government’s top priority and the quick action taken […]
250,000 More Australians Might Be Unemployed When JobKeeper Ends
Another 250,000 Australians could potentially find themselves unemployed when JobKeeper ends on 28th March 2021. The end of the scheme is anticipated to lead to thousands of businesses failing across the country. This will consequently lead to anywhere between 125,000 and 250,000 people left without a job. There are many businesses that would’ve already […]
