Audit doesn’t have to be a dirty word
Knowledge is power and audits can uncover insights to put you on a path to success. Discover how your next audit can mitigate risk and drive long-term growth. Read More…
Audit doesn’t have to be a dirty word
Knowledge is power and audits can uncover insights to put you on a path to success. Discover how your next audit can mitigate risk and drive long-term growth. Read More…
Why you need a clear vision, mission and values with Scotts Chartered Accountants
A successful journey requires a precise and purposeful roadmap. Learn how to write your business vision, mission and values to get where you’re going faster. Read More…
Are SMSFs worth it for business owners with Scotts Chartered Accountants
Contrary to common myths, SMSFs offer compelling benefits for those in the know. Discover if the pros outweigh the cons for self-employed business owners. Read More…
Find the real value of AI for your business with Scotts Chartered Accountants
AI is transforming businesses in unexpected ways. Discover how this exciting tech can save you time, money, mistakes and deliver deep insights to drive growth. Read More…
Finance implications of sustainable business with Scotts Chartered Accountants
Get across the costs and benefits of going green – and discover how a well-considered sustainability strategy can pay dividends for people, planet and profit. Read More…
Choose the right profit margin calculation with Scotts Chartered Accountants
Gross, net or operating? Profit margin calculation can be a complex process. Choose the right metric to steer your business in the right direction. Read More…
Tax and electric vehicles for Australian businesses in 2023
See how to optimise your tax position when including electric vehicles in your business fleet in 2023. Maximise efficiency and minimise EV costs. Ask your accounting expert. Read More…
Protecting your company from business email compromise (BEC) in 2023
Protect your company from business email compromise (BEC) and fraudulent transactions in 2023 by understanding the BEC threat. Ask your accounting expert. Read More…
Make some 2023 new financial year resolutions and develop a robust strategy for strategic budgeting and forecasting in challenging conditions. Ask your accounting expert. Read More…
Fare better in uncertain conditions with smart tax optimisation with Scotts Chartered Accountants
The 2023 EOFY brings a crucial opportunity to optimise tax strategies and minimise liabilities as we face uncertain economic conditions and changing tax laws. Ask your accounting expert. Read More…
Know your responsibilities as a director with Scotts Chartered Accountants
In 2023, directors face increasing scrutiny and penalties. Protect your position by understanding director ID numbers, director penalty notices and more Read More…
How to create a supplier questionnaire with Scotts Chartered Accountants
When it comes to managing supply chain risk, information is power – and protection. Streamline the process and save time by creating a supplier questionnaire. Read More…
How late invoice payments can put your business at risk
Late payments hurt more than just your bottom line. Learn how to avoid them and free up cashflow with expert accounting advice. Read More…
Part 2: More key performance indicators for your business
Read the second in our series on the KPIs that underpin business success and how a trusted accountant can keep you on track. Read More…
Understanding key performance indicators for your business
Do you know how well your business is performing? Discover the KPIs that underpin business success and how a trusted accountant can keep you on track. Read More…
Understanding the economic indicators that impact your business
Confused by the economic indicators shared in the media? Know the numbers that matter for your business with our back to basics guide. Read More…
FBT 2023 and hybrid workforces with Scotts Chartered Accountants
For business owners, FBT 2023 might involve some complex calculations. Get across changing covid exemptions and keep your hybrid workforce compliant. Read More…
3 ways to increase business profit in 2023 with Scotts Chartered Accountants
Discover 3 ways to increase business profit in a year of economic uncertainty by starting with sales, pricing and costs. Read More…
Sustainability and your supply chain
Sustainability profiles and reporting are key concerns for consumers and businesses in 2023. Ask your accountant for support to get and stay compliant. Read More…
3 superannuation changes you should know in 2023
Get up to speed with superannuation changes and stay compliant in 2023 with support from your accountant. Read More…
7 questions to ask your accountant in 2023
A new year is a new chance to set your business on a better path; ask your accountant these key questions to get ahead in 2023. Read More…
7 strategies to manage business costs in 2023
Get support to manage rising business costs in 2023 with 7 strategies including forecasting, reviewing recurring expenses, and debt consolidation. Read More…
Where and when to sell your business
Selling your business is fraught with stress. We break it down into simple steps and outline how a business valuation accountant can set you up for success. Read More…
Keep up with new laws impacting your business in 2022
Get across the new SME privacy laws and other legislation changes to keep your business compliant in 2022. Read More…
Why a proactive accountant might save your business
Operating reactively is a trap for busy small businesses. Discover how proactive tax planning can protect and grow your SME through uncertain times. Read More…
Stabilise supply chain cash flow to survive rate rises
Keep your business cash flow moving through supply chain pressures, rising interest rates and inflation uncertainty. Make clear forecasts with the right financial and accounting support. Read More…
Employer deductions with a work from anywhere workforce
Managing a remote workforce in 2022? Get your employer deductions right to avoid paying more than you need to or unwanted attention from the ATO. Read More…
Retirement Planning - Top 5 things to think about for your retirement
Getting sound financial and accounting advice from professionals you trust will help set your retirement up for success. We've put together a list of things to consider to get your retirement planning organised. Read More…
Working from home? What you can and can’t claim
Working from home tax deductions can get complex. Know what you can and can’t claim to stay off the ATO’s radar this tax time. Read More…
Understanding small business CGT concessions
If you’re planning to sell any business assets, make sure you understand the small business Capital Gains Tax (CGT) concessions you’re entitled to claim. Read More…
Federal Budget 2022-23 Overview
The 2022-23 Federal Budget is aimed at moving business into the digital era with both carrots and sticks in the budget. In this overview we examine what the impact of the Federal Budget will have on individuals and businesses... Read More…
The Marketing Essentials for Business Start-Ups
With the upheaval experienced to all aspects of our lives due to the Covid pandemic, it is not surprising many people are questioning their career choices and considering major changes. As a result, we are expecting to see a surge in business start-ups in 2022. New business owners often focus on the product or service offering, financial aspects or other mechanics of start-up whilst neglecting their marketing plan, instead of making it a priority… Read More…
The Key Ingredients for Business Success (Part 3)
In part one and two of this series of articles we identified the fact that there is no secret formula or magic potion that guarantees financial success in business, however, there are some key ingredients that successful businesses have in common. In part three we look at the importance of building a great team, having a lead generation website (including video content) and building a customer database... Read More…
Merry Christmas from Scotts Chartered Accountants
Wishing all our clients and their families the very best for the Festive Season and a safe & happy 2022. Please note we will be closed from Friday 24th December and re-opening Monday 10th January 2022. In the meantime, and in case you missed it, check out our latest Business Accelerator Magazine, full of articles and news about growing and nurturing your business. This edition includes our second article in a series on What are the Key Ingredients for a Successful Business? As well as articles on the ATOs new Stapled Super Fund rules, an examination of why start-ups fail and info on the rules around the newly introduced Company Director ID Number… Read More…
ATO’s New Stapled Super Fund Rules – What Do Employers Need to Do?
Superannuation stapling came into effect from 1 November 2021 for new employees and employers will need to ensure their onboarding process complies with the ATO’s new ‘super stapling’ requirements... Read More…
The Key Ingredients for Business Success (Part 2)
Most people for one reason or another contemplate starting their own business. While there’s no magic potion or secret formula that guarantees business success, highly successful businesses have some common characteristics that we will explore across a series of articles. In this instalment, we look at the importance of marketing and systemisation... Read More…
Government Locks in Director ID Deadline
Are you a Company Director? The new Director ID regime is now law and existing company directors have until 30 November 2022 to apply but new directors appointed as of 1st Nov 2021 have just 28 days from appointment to apply and directors appointed 5th April 2022 onwards must apply prior to appointment... Read More…
The COVID-19 pandemic has impacted the way we live, work and play. While the pandemic has posed a threat to lives and livelihoods, there’s clear evidence that people have struggled to balance the hybrid work model particularly when combined with home schooling duties. After 18 months of uncertainty people are doing a lot of soul-searching and a chunk of the population are re-evaluating various parts of their lives including their employment and some are considering self-employment. In this article we examine the perils and pitfalls of going out on your own, and importantly, how to avoid them... Read More…
Preparing to Sell Your Business
It's an emotional moment when you finally make the decision that it's time to sell your business. All those long hours, customer dramas and financial risks will loom large in your mind but the buyer isn't interested in how much work you've put into your 'baby', they want to see financial proof that the asking price is justified.... Read More…
In Case You Missed Our September 2021 Business Accelerator Magazine…
Don’t miss our latest edition of the quarterly Business Accelerator Magazine, full of articles and news about growing and nurturing your business. This edition includes the first part in our series on The Key Ingredients of Business Success as well as looking at whether COVID-19 Grants are taxable and the ATO’s data-matching programme targeting lifestyle assets… Read More…
The Key Ingredients for Business Success (Part 1)
Most people at some stage of their lives, for one reason or another, contemplate starting their own business. While there’s no magic potion or secret formula that guarantees business success, highly successful businesses have some common characteristics that we will explore across a series of articles... Read More…
ATO’s Data-Matching Programme Continues to Focus on Lifestyle Asset Purchases
The Tax Office has now extended its lifestyle assets data-matching program for the 2020/21 financial year through to 2022/23 and expect to identify around 300,000 individuals each year… Read More…
Are COVID-19 Grants & Subsidies Taxable?
The State and Federal Governments have provided business owners with a range of grants and subsidies through the pandemic including the Cashflow Boost, COVID-19 Disaster Payments and JobKeeper. While you might think all government support is tax free, this is not the case... Read More…
Rent Relief for Victorian and NSW Commercial Tenants
The Victorian Government has announced the reintroduction of the Commercial Tenancy Relief Scheme. Businesses with an annual turnover of less than $50 million and who have experienced a decline in turnover of 30% or more due to the pandemic will be eligible as well as most ACNC registered charities that have experienced a decline in turnover of 15% or more… Read More…
COVID-19 Government Support for Victorian Small Businesses
For small business owners, access to government support is a critical lifeline and there have been a lot of changes in the last month which we summarise in this article ... Read More…
Support Packages for East Coast Businesses
Australian businesses are again feeling the pinch financially as the second year of the COVID-19 pandemic continues to unfold. Businesses along the east coast particularly are in a state of uncertainty - going in and out of lockdown like a swinging door. As a result, the Federal Government has expanded the range of financial support available... Read More…
Attention All Company Directors - New Company Director Identification Number
The Government has introduced a Director Identification Number (DIN) to provide greater transparency around the background of company directors and combat illegal phoenixing leaving creditors unable to recover debts... Read More…
2021 Tax Return – Home Expense Claims
As we approach the end of the 2020/21 financial year, the Australian Tax Office has indicated that several types of costs associated with working-from-home will not be eligible as a tax deduction… Read More…
In case you missed our June 2021 Business Accelerator Magazine
Don’t miss our latest edition of the quarterly Business Accelerator Magazine, full of articles and news about growing and nurturing your business. This edition includes our Federal Budget roundup, articles on working ON your business, not IN your business as well as a Tax Return Checklist... Read More…
Victorian Small Business Snap Lockdown Grants
Victorian Business Costs Assistance Program (Round Two) - with the snap lockdown commencing Thursday 27th May the Victorian State Government has announced Round Two of the Business Costs Assistance program which opened for applications today (Friday 4th June) and the Commonwealth Government has announced a Temporary COVID Disaster Payment for employees... Read More…