Every day Startups ask these common GST questions because they know they want to get it right. In 2000 GST was introduced into Australia. For the past 7 years I have been working with Small Business owners and Startups and GST is one of the tricky aspects of the Numbers that many people find difficult. […]
READ MORESmall business benchmarks
What is a small business benchmark? Small business benchmarks are developed by the ATO. They are financial ratios developed from information provided by businesses on their tax returns and activity statements. You can use the benchmarks to help you compare your performance against similar businesses in your industry. The ATO has just updated every Small […]
READ MORECelebrating the wins. It’s almost the end of June & the end of the Financial year (in Australia) & now is a goo...
Celebrating the win. These fireworks were exploding over Sydney Harbour one night last week just as we walked out of the Concert Hall at the Opera House. This was the same night as the State of Origin and NSW won, so lovely blue fireworks. A celebration. As you reflect on the year just passed What […]
READ MOREDo you know what needs to be included to create a Valid Tax Invoice?
Where’s the bank account details? And other minor crimes! I received a call from a supplier saying “just a gentle reminder, this tax invoice remains unpaid”. This was surprising to me as I pride myself on being efficient when paying my suppliers. I believe that when some one does the work they need to be […]
READ MOREUsing ATO Benchmarks to improve your business
The ATO prepares small business benchmarks to help businesses compare their business’ performance against similar businesses in their industry. Benchmarks are key financial ratios developed from information provided by businesses on activity statements and tax returns that can help you compare your business performance against similar businesses in an industry. Benchmarks are published as a […]
READ MOREHealth Check Tuesday: Back to Basics
What are the numbers that matter in your business? Let’s start with profit. Did you know that there are a few different ways that business owners think about “profits”? Here are 3 to get us started: Gross profit = the amount remaining from sales after you deduct the total cost of production. It is always […]
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