Treasury is considering an increase to the current Statutory Demand Threshold
The impact of the covid-19 pandemic has forced the government to make a huge number of changes to Australia’s insolvency framework. The Treasury is now deliberating about whether or not the current monetary threshold at which a statutory demand can be issued by a creditor should remain at $2,000 or should be permanently raised to […]
‘Ahead for Business’ – Supporting the Mental Health of Small Business Owners in The Age of Covid-19
The effects of the covid-19 pandemic have taken a huge toll on the mental health of many small business owners and their employees. The ongoing possibility of having to suddenly close whenever a new outbreak of covid-19 occurs means that many businesses are struggling to make a profit and are facing an uncertain future. As […]
Zombie Businesses in The Age of Covid-19
Running a successful business takes a lot of hard work and with the covid-19 pandemic many Australian businesses are facing an uncertain future. Sudden lockdowns and social distancing rules have made it difficult for businesses to generate the amount of revenue that they used to make in a world before covid-19. Once the governments covid-19 […]
Tips for Growing Your Business In 2021
Develop A Deeper and More Personal Relationship with Your Customers – Satisfying your customers should be a top priority of every business. It is crucial to understand your customers desires and to offer services and products that add value and exceed their expectations. You can gain insight into your customers by personalising your services and […]
Building Business Resilience in The Age of Covid-19
Sudden closures from covid-19 enforced lockdowns have made it difficult for businesses around Australia to remain financially viable. For businesses wanting to come out the other side of this pandemic in a strong position it is essential for businesses to build resilience by being flexible in the way they sell their products to customers. […]
Small Business Insolvency Reforms Introduced to Help Struggling Businesses
Thousands of Australian businesses impacted by the covid-19 pandemic have been thrown a lifeline following the Federal Government’s decision to introduce small business restructuring reforms on 1st January 2021. The Federal Government’s insolvency reform package was passed by Federal Parliament on 11th December 2020. The new rules will offer a debt restructuring process intended to […]
Keeping Ahead of Your Competition: Tips to Help Improve Your Business In 2021
2020 was a challenging year for most Australian businesses. Sudden lockdowns and social distancing laws forced businesses to re-think the way they sell their products and communicate with their customers. Here are some tips for what businesses can do to ensure that they remain flexible and able to continue operating successfully during one of […]
Small Business in The Age of Covid-19
Small businesses are crucial to sustaining a healthy economy as they employ almost half of all Australians currently in the workforce. The covid-19 pandemic has caused huge disruption to the way small businesses operate. After being forced to close overnight in March 2020 and then re-open to limited capacity two months later restaurants, gyms and […]
Tax Deduction Claims For Education & Training Could Soon Be Widened
Australian taxpayers might soon be able to claim deductions for training and education programs unrelated to their chosen area of profession. Changes surrounding FBT exemptions for retraining and reskilling included in the recent federal budget have been implemented to encourage Australian workers to upgrade their skillset to make themselves more desirable to employers for a […]
Tax Deductions for Self-Education Expenses
Australian workers are currently able to claim tax deductions on self-education expenses when the education activities are directly connected to the income arising from their current employment activities. To be tax deductable the self-education must also maintain or improve the specific skills or knowledge that is required in your current work activities. Furthermore, the self-education […]