Unlocking SEO Success: Insights for Business Owners – 5 December
We’re excited to invite you to an exclusive SEO session hosted at Thrive Advice, with guest presenter Steve Bigg from Out West Online. If you’re a business owner looking to make your mark online, this is your chance to learn practical strategies to enhance your digital presence. What is [...]
Business & Profit Matters – October 2024
Business & Profit Matters Welcome to this edition of Thrive Advice, where we tackle key topics to help you navigate your business challenges and opportunities. In this issue, we cover essential strategies for improving cash flow, the evolving discussion on the right to disconnect, and what every director needs [...]
Important Update: New Xero Invoicing
Important Update: New Xero Invoicing! Starting the week of 2 September 2024, Xero will be rolling out its new invoicing version to users. Classic invoicing will still be available until 20 November 2024, after which it will be retired. Detailed audit trails Address invoices to contact groups [...]
Tax Matters – August 2024
Navigating the Latest Tax Updates: Key Considerations for August 2024 As we move through the 2024 tax year, staying informed about the latest tax developments is crucial for both individuals and businesses. Whether you’re managing your own tax return, overseeing company finances, or assisting employees with their tax obligations, [...]
The Secret To Acing A Job Interview
Nailing a job interview is all about preparation. When you walk into an interview with a deep understanding of the company and role, a clear sense of your top three strengths, and a collection of stories from your past experiences that highlight your skills, you’ll stand out from the competition. [...]
When Can You Access Super Early?
Superannuation is a crucial part of retirement planning, designed to provide financial security in your later years. However, life can sometimes present unforeseen financial challenges that may lead you to consider accessing your superannuation early. Here’s a guide on how you may be able to access your super in severe [...]
Term Deposits & Your Savings
Term deposits are a popular savings option in Australia, offering a secure and straightforward way to grow your money. Whether you’re looking to save for a short-term goal or seeking a stable investment, term deposits can be an excellent addition to your financial strategy. Here’s a comprehensive guide to help [...]
Key Tools For Business: Operations Checklists
Running a successful business requires meticulous planning, consistency, and efficient operations. One critical tool that can help achieve these goals is the use of operations checklists. These checklists are essential for streamlining processes, ensuring consistency, and facilitating effective onboarding of new employees. Here’s why creating operations checklists is vital for [...]
How To Form Good Habits To Help Manage Your Work Priorities
Managing work priorities effectively is crucial for success in today’s fast-paced world. Forming good habits can be a game-changer, leading to increased productivity, better time management, and reduced stress. Here’s how you can cultivate habits that will help you excel in your work life. Understanding the Importance of Good Habits [...]
A How-To On Boosting Spousal Superannuation
Boosting retirement savings is a priority for many Australian couples. One effective strategy is co-contributing to your spouse’s superannuation account, which can balance super balances between partners and offer tax benefits. What Can Co-Contributing To My Spouse’s Super Do? Increased Retirement Savings: Helps ensure both partners have sufficient funds for [...]
Don’t Lend Money To Family – But If You Did, Here’s How To Work It Out If It Went Badly
Financial disagreements with loved ones can be stressful and challenging, often straining relationships and causing misunderstandings. However, addressing these conflicts constructively can strengthen relationships and lead to better financial decisions. Understanding the Root Causes Before diving into solutions, it’s important to understand why financial disagreements occur. Common root causes include: [...]
7 Mistakes Often Made At EOFY You Can Rectify
Finding yourself increasingly more busy as the EOFY approaches, particularly with meeting your tax obligations? It’s coming on tax time, so it’s time to ensure you’re prepared for your tax returns. This period can be stressful and complicated, leading to common mistakes that can result in financial penalties or missed [...]
Checklist: Complete Your Payroll Year End in Xero!
It’s that time of year again – let's make sure your payroll year-end in Xero is smooth and hassle-free! Follow this fun and easy checklist to get everything in order. Ready? Let’s go! Check Your Settings Reconcile Payroll Transactions Finalise Single Touch Payroll Data Process Adjustments Superannuation Payments Download [...]
NSW 2024-25 Budget Highlights
The 2024-25 Budget has been released, forecasting significant challenges ahead. With a $3.6 billion deficit, rising unemployment, and a subdued economic outlook, the budget outlines measures to address these issues while also highlighting the fiscal shock of an unfair GST carve-up, where $11.9 billion in GST grant revenue was [...]
Privacy For Australian Businesses: An Explainer Of The Act
In an era where data is currency and privacy breaches can have significant consequences, understanding and complying with privacy law is crucial for Australian businesses. With the introduction of the Privacy Act 1988 (Cth) and subsequent amendments, businesses are required to manage personal information responsibly to protect individuals’ privacy rights. [...]
Need Access To Your Super? Here Are The Circumstances That You May Be Able To Get It
Certain conditions and criteria may enable someone to access their superannuation. Let’s examine the circumstances that a superannuation fund can be accessed: Preservation Age and Retirement The preservation age is the earliest point at which you can access your superannuation. As of 2023, this age ranges from 60 to 65, [...]
7 Strategies For Digitally Transforming Your Business
Digital transformation has become imperative for businesses seeking to thrive and remain competitive. Embracing digital methods and strategies is no longer a choice but necessary for businesses looking to streamline operations, enhance customer experiences, and drive growth. It’s time to explore the importance of digital transformation and discover actionable strategies [...]
2024-25 FY Thresholds For Cars Newly Announced
The 2024-25 financial year is in sight, and significant changes have been made to car thresholds, which are crucial for business owners to understand for tax purposes. Here’s a detailed overview of what’s new and how it might affect your business. Income Tax: Car Limit Increase The car limit for [...]
A Checklist For Your Business’s EOFY Obligations
As the End of the Financial Year (EOFY) approaches in Australia, businesses must gear up to meet their tax obligations efficiently and accurately. This period can be hectic, but with careful preparation, you can ensure compliance with Australian Taxation Office (ATO) requirements and optimise your financial outcomes. Here’s a comprehensive [...]
Confrontation Strategies To Navigate Without Conflict
Conflict in the workplace is inevitable. Differences in opinions, work styles, and personalities can lead to disagreements. However, confrontation doesn't have to be negative; it can lead to growth, innovation, and stronger relationships when handled effectively. Here are some strategies to navigate workplace confrontations constructively. Understanding the Importance of Confrontation [...]
Working Out Capital Gains Tax On Shares Can Be Tricky – That’s Why We’re Here To Help
If you're involved in shares, particularly on the selling side, you need to be aware of your tax obligations. Capital Gains Tax (CGT) is a crucial aspect of investing in shares and units in managed funds. It applies to various transactions beyond merely selling your shares. Let’s examine when CGT [...]
Thrive Advice Year End Strategy Guide
Snapshot Overview: Key Updates for Your Business in 2024-2025 Welcome to Thrive Advice’s essential guide for navigating the new financial year. Here's a brief look at what you'll find in our comprehensive update: Legal Changes You Need to Know Closing The Loopholes Act: Major amendments impacting casual employment, right [...]
Achieving Financial Wellness: Budgeting & Spending
Financial wellness is a crucial aspect of overall well-being, impacting your bank account and your mental and physical health. Effective budgeting and smart spending are essential skills that can help you achieve financial stability and peace of mind. Let’s look at some practical strategies for mastering finances, creating a budget [...]
If You Fail To Plan, You Plan To Fail – A Guide For Businesses At EOFY
Benjamin Franklin once famously said, “If you fail to plan, you are planning to fail.” While he may not have been specifically referring to businesses, his words are profoundly relevant to both individuals and businesses alike. Planning is essential, whether it’s for a simple holiday or the strategic development of [...]
Preparing For EOFY: The Superannuation Clearing House
As the End of the Financial Year (EOFY) approaches, employers and self-employed individuals must ensure their superannuation contributions are processed efficiently and on time. Utilising a superannuation clearing house can streamline this process, ensuring compliance and maximising the benefits of super contributions. Here’s a comprehensive guide on why and how [...]
