Blog


As we approach the end of the 2021 financial year, tax planning has never been more important and as accountants, we believe our client brief includes helping you minimise your tax liability within the framework of the Australian taxation system. Business planning is always challenging but planning with a pandemic in the background is incredibly difficult given the uncertainty, so for many businesses, the number one priority right now is cash flow... …


The Treasurer Josh Frydenberg released the Federal Budget on Tuesday May 11 and the focus is on recovery and investment to support job creation to drive economic growth. In this article we examine the main changes proposed around personal and business taxation as well as superannuation… …


Every business owner wants to grow their business and their profits. While there’s no secret formula or recipe, the fact is, business growth and improved profitability are outcomes achieved as a result of processes including marketing, your expertise, customer service and your team’s performance... …


There is an old saying, ‘The most fertile source of insight is hindsight’. That being the case, what can business owners learn from the COVID-19 pandemic?     …


In this fourth edition of our Recession Buster Newsletter we continue to examine the 4 Ways to Grow Your Business, specifically the 4th way – Improving Your System & Processes. In other articles we explore the importance of having a website. Other articles include the 3rd part of Ways to Turn Your Website into a Lead Generation Machine - this particular article looking at the importance of a good headline, Live Chat function, Social Proof (Testimonials) & Social Media Links - and finally we look at mining your customer database for gold... …


Victoria's business community has been greatly impacted by the COVID-19 pandemic and with the recent circuit breaker lockdown further impacting Victoria, the State Government has announced a further $143 million package to support impacted businesses... …


In this third edition of our Recession Buster Newsletter we continue to examine the 4 Ways to Grow Your Business, specifically the 3rd way - Increasing the Average Sale Value. In other articles we explore the importance of measuring, monitoring & testing your business, Other articles include the 2nd part of ways to turn your website into a lead generation machine - this particular article looking at the importance of Lead Magnets & Calls to Action - and finally we examine the importance of goal setting and future planning... …


The JobMaker Hiring Credit system announced in the 2020-21 Federal Budget has now passed into law and employers can now register for the credits available for eligible additional younger employees where the job has been created and the new hire has occurred after 7th october 2020. The intention behind the JobMaker credit legislation is to lessen the detrimental impact on the younger workforce of the COVID-19 shut-downs... …


With the media flooding us with COVID-19 information and governments around the world using vocabulary that is normally reserved for war time we know we are living in unprecedented times. Historically, business start-ups tend to surge when there are high levels of unemployment and middle management lose their jobs. Amongst all the uncertainty, is it the right time to start a business? …


As businesses reopen, we are being confronted with a new ‘normal’. More people are now working from home and increasingly, staff and customer meetings are being conducted online rather than face to face.  In the second edition we explore the 4 Ways to Grow a Business with a focus on the second way - How to Get Your Customers to Buy More Often. In other articles we look at how to turn your ‘electronic brochure’ style website into a lead generation machine and how to convert those leads into sales. Finally, we look at the importance of giving your customers a guarantee...  …


The COVID-19 pandemic not only triggered a global health crisis, it also plunged Australia into recession for the first time in three decades. As such, a lot of business owners are in unfamiliar territory and we are here to help you navigate your way through this extraordinary and challenging period... …


Treasurer Josh Frydenberg presented his second budget on October 6 in what was described as the, "most important budget since World War II". As expected, there is massive expenditure to reboot and stimulate the economy after the economic devastation brought on by the coronavirus pandemic... …


As business owners we need to learn from experience because history has a habit of repeating itself. Going forward we need to have a contingency plan in the event there is another virus outbreak or some other catastrophe ...  …


The Government’s Stimulus Packages have given thousands of businesses a lifeline during the Coronavirus crisis. Unfortunately, with many businesses back in lockdown in Victoria, some businesses just won’t survive this time around. As accountants, our mission is to ensure you survive but if all avenues have been exhausted and it’s the end of the road, there are a number of things that need to happen to wind a business up… …


The ATO has announced a rise in the cents per kilometre deduction rate for motor vehicle expenses for the 2020/21 financial year. Effective from July 1, 2020 it will be 72 cents per kilometre. …


Businesses have been forced back into lockdown, for some maybe for the first time under the current stage 3 restrictions in Victoria (stage 4 in metropolitan Melbourne) and one thing has become clear, it’s no longer ‘business as usual’. The world as we know it has changed and we have been forced to rethink our daily routines, spending habits, exercise regimes and social interactions. Many businesses will be in dire circumstances, but is this the time to be trimming your marketing, or just the opposite? …


The coronavirus has been labelled the biggest global crisis for three generations. The economy came down 50 floors in the ‘elevator’ and it will be much slower and harder going back up via the staircase. To help your business survive and prepare for the period of regrowth we have put together this list of items to consider …


If you are one of the thousands currently working from home during the COVID-19 ‘shut down’, you may be able to claim a deduction for some of the expenses for your ‘office’ area. There are two parts to this, those employees working from home and businesses where their principal place of business is their home – effectively running their business from home... …


American business magnate, Warren Buffet said, “Only when the tide goes out do you discover who’s been swimming naked.”  When the economy is booming, we tend not to worry about our level of debt or expenditure on non-essential items. As the shock of the coronavirus wears off, it’s time to move into the planning phase and develop a clear strategy. The following checklist serves as a useful action plan ... …


The 2019/20 financial year has been extraordinary and the number one priority for most business owners right now is cash flow, so tax planning has never been more important. With June 30 fast approaching you need to act quickly to ensure that we help you minimise your tax liability    …


Pivoting is something business owners normally do when they sense the business needs a change of direction. The COVID-19 pandemic's arrival with little or no warning has caused most Australian businesses, both big and small, to effectively go into hibernation. The question is, could your business benefit from pivoting in the current environment?   . …


The Government is allowing individuals affected by the Coronavirus to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21    …

COVID-19 Help for Business

COVID-19 Help for Business

The coronavirus has been labelled the biggest global crisis for three generations and has stopped the economy in its tracks. Thousands of businesses have gone into hibernation and self-isolation rules have changed the way we live. Business owners face never seen before challenges and to help navigate your way we provide a checklist and other resources to help our clients  


On Monday 6th April we ran a webinar ‘The Government Stimulus -Your Questions Answered’,  where our Principals ran through the Government's Coronavirus Stimulus Package and other information that business owners need to know about right now …


Recently the Victorian Government released a $1.7 billion Economic Survival Package.

As part of the Economic Survival Package the government is offering a $10,000 ‘Business Support Fund’ grant to eligible Victorian small businesses. …


The Government have announced a ‘Job Keeper’ Program that provides wage subsidy payments to Australian businesses who have seen their turnover reduce significantly as a result of the coronavirus. Registered employers will receive a flat $1,500 each fortnight for each eligible employee, including those that have been stood down or recently rehired. …


Our clients are looking for help as the COVID-19 pandemic tracks towards being the greatest social upheaval the world has seen since World War II. The updates and announcements are coming at a breakneck speed. With some industries more severely impacted than others the question is 'What to do next?' In response, we have put together this action plan checklist    …


Business owners are facing unprecedented challenges with uncertainty surrounding the COVID 19 (coronavirus) outbreak. The pandemic will eventually pass but the big question is, when and what can you do to minimise the damage?  …


The Federal and State Governments have announced a range of relief benefits for small businesses impacted by the recent catastrophic bushfires. Ranging from grant funding, concessional loans, financial support and other measures such as Land Tax relief in effected area    …


Happy New Year. Not just a new year, it’s the start of a new decade. Is this the time for you to finally make that big change and buy that business you’ve been thinking about? Let’s examine the Five Phases of Buying a Business   …


Christmas time can be a make or break period for some types of businesses, retailers, accommodation, wholesalers & the information and communication sectors for example experience their peak sales at this time. For other industries this can be an especially tough time of the year with many business owners experiencing low demand, staff absences and supply disruptions... …


Have you fallen behind on your Superannation Guarantee obligations? Legislation enabling the Superannuation Guarantee amnesty that was proposed back in May 2018 is before Parliament right now and if enacted, will apply from the original amnesty announcement ... …


There has been a number of high-profile businesses in the media recently for the wrong reason. How can this happen and how can you make sure you don't join this "Rogue's Gallery"?    …


Businesses fail for a multitude of reasons. Lack of sales and cash flow, inadequate capital and failing to adapt to change can all contribute to the collapse of a business. Let's explore some of the major reasons why business start-ups fail. …


Consumer behaviour has changed and your website is now your marketing hub. In this article we look at three key website issues that confront most business owners - not enough website traffic, poor conversion of leads to sales and a lack of strategy… …


We know we can’t please all of the people all of the time but with 72% of consumers reporting trusting online reviews as much as personal recommendations it can feel really damaging to receive a poor online review. Despite your instinct to try and get it deleted there are other courses of action open to you.   …


With the end of financial year now behind us let’s look at a couple of things to address to tidy up last financial year and plan for 2019/20.  Namely - Single Touch Payroll and the Immediate Asset Write-Off Change …


The Tax Office has introduced a Whistle Blower Hotline encouraging people to 'dob in' business owners they suspect are operating in the black economy. The Hot Line went live on the 1st July 2019.    …

Show More

Arrange Your FREE
No-Obligation Meeting

Either phone us on (03) 5224 1133 or complete the form below

We Respect Your Privacy

NICHE INDUSTRIES

Download now and get your
business off to a flying start!

FREE DOWNLOAD

Latest Blog

View All >
  • What to do with an ATO audit notice with Scotts Chartered Accountants
    12 Apr '24 What to do with an ATO audit notice with Scotts Chartered Accountants Received an ATO audit notice and don’t know what to do next? Transform your audit confusion into confidence with support from a tax audit accountant.  More >
  • Navigating international business accounting compliance with Scotts Chartered Accountants
    28 Mar '24 Navigating international business accounting compliance with Scotts Chartered Accountants Expanding your business overseas poses some complex accounting challenges. Nail multi-jurisdictional compliance with international business accounting advice.  More >
  • Manage your business costs with Scotts Chartered Accountants
    15 Mar '24 Manage your business costs with Scotts Chartered Accountants Managing business costs in 2024 isn’t just about slashing spending. Get targeted advice for cost management More >