6 Signs Of Potential Business Collapse
Running a business comes with its share of challenges and uncertainties. While entrepreneurs strive for success and growth, it’s crucial to remain vigilant and recognise the warning signs of potential collapse. Ignoring these signs can lead to financial ruin and the eventual demise of the business. Here are some key [...]
5 Factors To Guide Your Superannuation Fund Choice
Selecting the right superannuation fund is a crucial decision that can significantly impact your financial future in retirement. With numerous options available, it’s essential to understand the key factors to consider when making this important choice. Let’s examine the factors that should guide your decision-making process to ensure you choose [...]
Autumn 2024 Update
As autumn falls on the Central West, we delve into the Latest on FBT, NSW Drought-Ready Grants, and Super Contributions caps— this update includes: The Fringe Benefit Tax (FBT) traps The ATO Debt Dilemma Maximising Super Contributions Safeguarding Business Investments: Lessons from the AAT Thrive's guide to NSW Government [...]
The Right To Disconnect
In today’s hyper-connected world, the boundaries between work and personal life have become increasingly blurred. With the proliferation of technology, employees are often expected to be available around the clock, leading to heightened stress, burnout, and a deterioration in work-life balance. Recognising the importance of preserving employee well-being, many countries [...]
Emerging Trends In Workspace Design And Management
The traditional office concept has undergone a significant transformation in recent years, driven by technological advancements, shifting employee expectations, and the global pandemic. As businesses adapt to a rapidly changing landscape, the future of workspaces is evolving to meet the needs of a diverse and dynamic workforce. Flexible Workspaces Flexible [...]
Understanding Facebook Advertising For Businesses
With over 2.8 billion monthly active users, Facebook remains one of the most powerful platforms for businesses to reach their target audience. However, with increased competition and evolving algorithms, mastering Facebook advertising requires a strategic approach. Let’s explore the best practices for leveraging Facebook advertising to maximise ROI and achieve [...]
Understanding Superannuation Access Rules: A Guide for Individuals Under 65
Superannuation is a crucial part of retirement planning for Australians. It’s designed to provide financial support in retirement, but what if life throws unexpected challenges before you reach the age of 65? Let’s explore the current options available if you need your super but cannot access it due to your [...]
Fringe Benefits Tax Considerations For Australian Businesses
For businesses operating in Australia, navigating the intricacies of the Fringe Benefits Tax (FBT) is essential to ensure compliance with tax regulations and minimise financial liabilities. FBT is a tax paid on certain employee benefits in addition to their salary or wages. From understanding what constitutes a fringe benefit to [...]
Thrive’s Guide to NSW Government Drought Ready Funding
In a significant move, the NSW government has come to the party to support the agricultural sector and has launched three key grants aimed at farm productivity, sustainability, and drought resilience. These grants are designed to offer financial assistance and incentives for farmers to adopt advanced technologies and practices that [...]
Prioritising Your Mental Health
In the hustle and bustle of everyday life, it’s easy to neglect our mental health. However, taking proactive steps to improve ourselves can profoundly impact our well-being. From practising self-care to cultivating positive habits, here’s how improving yourself can lead to better mental health: Prioritise Self-Care Self-care isn’t selfish; it’s [...]
Can Cryptocurrency Be An SMSF Investment?
Cryptocurrency has become a hot topic in the investment world, drawing excitement and caution. For those managing Self-Managed Superannuation Funds (SMSFs), the allure of potential profits is tempting. But before diving in headfirst, it’s crucial to understand the risks involved. Here’s a reader-friendly breakdown to help you navigate this complex [...]
Finances, Budgets, Debts – What You & Your Partner Should Be Talking About
Money matters can be a source of stress and tension in any relationship, but for couples in committed partnerships, discussing finances is essential to building a solid foundation for the future. From budgeting to long-term financial goals, open and honest communication about money can strengthen trust, alignment, and mutual understanding. [...]
What You Need To Keep Records-Wise For Cryptocurrency
In the ever-evolving landscape of cryptocurrency, where digital assets can fluctuate in value within moments, keeping meticulous records is not just a good practice but a necessity. Whether you’re a seasoned investor or a newcomer to the crypto world, maintaining accurate records of your transactions is crucial for tax compliance. [...]
7 Business Challenges You Might Face At The Start Of Your Journey
Starting and running a business is an exhilarating journey filled with opportunities for growth and success. However, along the way, entrepreneurs inevitably encounter trials and tribulations that test their resilience and determination. From economic downturns to unexpected setbacks, here are some common challenges businesses face and strategies for overcoming them: [...]
Handling Microstress At Your Job
The well-being of employees is paramount to the success of any organisation. While major stressors such as heavy workloads and tight deadlines are recognised and addressed, the concept of micro stresses is gaining attention for its subtle yet impactful influence on employee health and performance. What are Microstresses? Microstresses are [...]
A Well-Honed Business Plan Can Lay The Foundation To Success
A well-crafted business plan is akin to a roadmap guiding a business toward success. Whether you’re launching a startup or seeking funding for expansion, a meticulously prepared business plan is a vital tool. It outlines your vision and demonstrates your understanding of the market, potential challenges, and strategies for growth. [...]
Purchasing Your First Home? Make Sure You Know What May Be Available To You
Embarking on the journey to homeownership is an exciting yet complex endeavour, especially for first-time buyers in Australia. Understanding government incentives, mortgage options, and key considerations becomes pivotal as the real estate market evolves. Government Incentives First Home Owner Grant The FHOG is a nationwide initiative providing financial assistance to [...]
Evaluating the Benefits of Superannuation Insurance Compared to External Providers
Many superannuation funds offer life insurance as part of their member benefits package. This type of insurance provides a lump sum payment to the policyholder’s beneficiaries in the event of the policyholder’s death or if they become terminally ill. Life insurance through superannuation offers several advantages: Cost-Effective Coverage Since super [...]
Navigating Tax Reporting in the Sharing Economy
The Sharing Economy Reporting Regime (SERR) represents a significant development in Australia’s tax landscape, requiring certain businesses operating in the sharing economy to report specific transactions to the Australian Taxation Office (ATO). Commencing from 1 July 2023 for selected industries and expanding further from 1 July 2024, SERR aims to [...]
Your Legal Responsibilities As A Business Owner
Operating a business in Australia comes with a myriad of legal responsibilities, especially in the realm of employment. Compliance with employment laws is crucial for fostering a fair and harmonious workplace. Let’s examine the key legal issues employers in Australia should consider to ensure compliance and mitigate potential risks. National [...]
A Brief Guide To Superannuation Death Benefits
Unveiling an often underestimated yet pivotal facet of superannuation, it’s imperative to shed light on the distribution of death benefits. Superannuation death benefits encompass allocating where a deceased individual’s superannuation funds are to go, or what is to happen with them after their passing. This intricate process demands meticulous consideration [...]
How To Make Your Social Media Pop
Harnessing the power of social media is no longer optional for businesses and individuals alike. Whether you’re a brand looking to expand your reach or an individual aiming to build a personal brand, effective use of social media can be a game-changer. Here are key strategies to help you make [...]
Land Tax – Why An Understanding Of This Facet Of Tax Could Help With Your Yearly Tax Planning
Australia’s land tax is a vital component of the nation’s taxation system, playing a pivotal role in revenue generation for state and territory governments. Understanding the nuances of land tax is essential for property owners, investors, and anyone involved in real estate transactions. Purpose and Administration Land tax is levied [...]
2024 Business Resolutions – How To Make Yours Work For You
With business operations underway, a new calendar year presents a perfect opportunity for entrepreneurs and business professionals to reflect on the past and set the stage for future success. Crafting a meaningful business resolution is not just about setting lofty goals; it’s about creating a plan that resonates with your [...]
8 Skills That Could Make Or Break Your Career’s Next Decade
In the ever-evolving landscape of the business world, staying ahead requires both adaptability and a proactive approach to acquiring essential skills. As we look ahead to the next decade, specific business-related skills are poised to become increasingly invaluable. Here are key competencies that could make all the difference in your [...]
