What You Need To Do To Set Up A Small Business In Australia
Are you considering taking the leap into entrepreneurship and starting a small business? While the prospect of pursuing your passion and building a successful enterprise is exciting, it’s essential to navigate the legal landscape carefully to ensure compliance and protect your interests. This article will explore the key legal considerations [...]
Defining Your Company’s Culture
In today’s competitive business landscape, building a strong company culture has become essential for attracting and retaining top talent, fostering employee engagement, and driving organisational success. A company’s culture goes beyond its products or services; it reflects its values, beliefs, and purpose. Let’s explore the importance of building a solid [...]
An Explanation Of The Small Business Superannuation Clearing House
For small businesses in Australia, managing superannuation payments for employees can be a time-consuming and complex task. Super guarantee payments must be made quarterly, with the next due date being the 28 April. However, the Australian Taxation Office (ATO) offers a solution in the form of the Small Business Superannuation [...]
Effective Delegation Strategies For Teams
Effective delegation is a crucial skill for leaders and team members alike. Delegating tasks lightens the workload, fosters collaboration, empowers team members and increases overall productivity. However, mastering the art of delegation requires finesse and a strategic approach. Here are some best practices to enhance your delegation skills and optimise [...]
Understanding Different Expenses To Help With Your Budget Planning
Expenses come in various shapes and sizes, each with financial health and stability implications. Understanding different expenses is crucial for effective budget management, savings planning, and overall economic well-being. From necessities to discretionary luxuries, here's a breakdown of the various types of expenses individuals encounter: Fixed Expenses: Fixed expenses are [...]
How To Give Your Customer The Best Experience With Great Service
In today's fiercely competitive business landscape, where products and services can be easily replicated, customer experience has emerged as a critical differentiator for businesses seeking to stand out. Prioritising customer experience isn't just about providing satisfactory service; it's about creating memorable interactions that foster loyalty, advocacy, and long-term success. Importance [...]
Understanding Ethical Investing
Ethical investing has gained significant traction recently as investors increasingly seek to align their financial goals with their values. Ethical investing allows individuals to positively impact society and the environment while securing their financial future. This can be achieved through superannuation or your investment outside of super. Let’s examine the [...]
Compliance in the WFH Landscape: Know The Right Method You Can Use To Claim Expenses
Ensure you’re up to date on how to claim your working-from-home expenses! As the business landscape shifts back and forth between office, hybrid and home-based work opportunities, it’s important to remember what methods are available to you when it comes to claiming. If part of your role allows you to [...]
Time Theft: The Silent Crime Occurring In Businesses
Time is a precious commodity. Employers invest resources in hiring and compensating employees for their time and expertise, expecting a fair exchange of services. However, when employees engage in time theft – fraudulently taking pay for time not worked – the consequences can extend far beyond the immediate loss of [...]
How Blogging Can Elevate Your Online Presence
Blogging has become a cornerstone of online communication, allowing individuals and businesses to share valuable insights, stories, and expertise with a global audience. However, standing out in a sea of content requires more than just hitting the publish button. Crafting a compelling blog post that engages readers and drives traffic [...]
Retirement Fraud Alert: How to Spot and Avoid Common Scams
As retirement approaches, ensuring financial security becomes a top priority for many individuals. Unfortunately, scammers often target retirees with deceptive schemes to exploit their savings and retirement funds. Recognising the warning signs of a retirement scam is crucial for safeguarding your hard-earned money and financial well-being. Let’s explore common red [...]
What Counts As A Valid Self-Education Claim?
As the tax season draws near, individuals seeking to claim self-education expenses must navigate the pitfalls highlighted by the Australian Taxation Office (ATO). While pursuing knowledge and skill enhancement is commendable, it’s crucial to ensure compliance with tax regulations to avoid audits and penalties. Recent ATO rulings underscore the importance [...]
Seasonal Success: How Businesses Can Drive Engagement Through April’s Holidays
As April rolls around, businesses have a perfect opportunity to refresh their content marketing strategies and engage with their audience in new and exciting ways. With the changing season and various events occurring throughout the upcoming month, there are plenty of opportunities to connect with customers and drive brand awareness. [...]
Wealth & Super Matters – March 2024
In this issue, the topics include: Why Is Good Record-Keeping Important For Your SMSF? What Is Compassionate Release of Super? Protecting Yourself During Life Transitions: Divorce, Retirement, and Inheritance Tips for Ensuring Your Business’s Regulatory Adherence With Super Safeguarding Your Digital Assets In The Digital Age The Role of [...]
Preventing An ATO Audit With Proper Lodgement Of Your Return
The Australian tax system is designed to be fair to all, so we all must pay the correct amount of tax each year. The Australian Taxation Office (ATO) contacts around 2 million taxpayers annually to review their tax returns, although not all undergo full detailed audits. People who primarily deal [...]
Tips & Strategies For Budgeting As A Family
Managing finances as a family can be challenging, especially when children are in school. The costs can quickly increase from tuition fees and extracurricular activities to school supplies and educational expenses. However, with careful planning and budgeting, parents can ensure financial stability while providing their children the support they need [...]
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 [...]
