More support for Victorian businesses

The Victorian and Commonwealth governments have announced an additional $400 million in support for Victorian businesses that continue to feel the effect of lockdowns. The package comprises the reintroduction of the Commercial Tenancy Relief Scheme and the establishment of five new support programs: the Business Costs Assistance Program Round Three (BCAP3), the Business Continuity Fund, the Licensed Hospitality Venue Fund, the Small Business COVID Hardship Fund and the Alpine Business…  Read more

Cash Flow Advice for Small Businesses

Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management is a major concern for them. Cash flow refers to the movement of money into…  Read more

How to Build an Effective Financial Plan for Your Business

Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although many business owners are aware that financial planning is important, it is often overlooked. Without a…  Read more

Home office expenses

With all the time many of us have spent working from home in the past 12 months, it’s likely you may have expenses you can claim. However, with this being a focus for the ATO it’s important to ensure you are clear on what you can and can’t claim. In addition, there are different methods for calculating deductions. Along with the usual methods, the ATO has introduced the ‘shortcut method’…  Read more

5 tips to help you keep construction projects on time and budget

One of the big challenges faced by the construction industry is projects that stretch timelines and budgets. Delayed schedules are so common, they can be seen to be the norm, not the exception. This erodes trust, plans for future projects and ultimately affects your profit margin. So how can your business build a reputation for delivering construction projects on time and budget? Even if you work towards solving just one…  Read more

Tax Implications of Cryptocurrency

With cryptocurrencies gaining notoriety, many people are unclear on how or when they can be taxed. Despite widespread belief to the contrary, you can be taxed on gains made as a result of obtaining or using cryptocurrency. If you’ve made a profit from trading cryptocurrency, for example, you need to declare it at tax time. Here is some important information on cryptocurrencies and their implications for your taxes. How cryptocurrency…  Read more

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