Keep up to date with a wide variety of business topics. This will help in business and every day life.
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Remaining in control of the cash coming into (and going out of) the business is the real focus, so you can accurately predict your financial position and can resolve any issues.
Paying the required surcharges on debit card transactions made by your customers is an operational cost that many business owners would love to see disappear. The Government is proposing banning these surcharges from January 2026.
How can your small business compete with the big multinationals? Here’s how to maximise your boutique appeal to retain existing customers and draw in new ones.
Inflation may be down, but there’s still real uncertainty for business owners. So how do you get more clarity for your future plans?
Christmas is just around the corner, many businesses are planning end of year functions and gifts for employees and valued clients. There are a number of tax implications that need to be considered.
Seasonal dips in income can be highly challenging when you’re a small business. But there are proactive ways to predict, plan for and overcome these dips in revenue.
You’ve spent a lifetime building up your family business, growing the company and creating a lasting legacy for your nearest and dearest. What are the signs that it’s time to step down? And what’s the best time to put your succession plan into action and to pass the reins to your successor?
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Thinking of selling your business? It’s vital to plan ahead and to add value to the company, prior to a sale. Here are five key areas of value to focus on as part of your exit strategy.
For many businesses, priorities have changed, customer behaviours have mutated, and revenue streams have had to evolve and pivot to maintain a profitable business model.
Working for yourself or running your own business? Setup robust systems for expenses & tax requirements so you can focus on your important tasks.
The ATO has set up a new advice portal for small business owners, giving you tips and advice on your finances and business taxes.
Did you know your employees now have a legal ‘right to disconnect’ from after hours work calls and emails?
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In honor of Scam Awareness Week, please find five tips and resources to help you, and your small business stay vigilant against scams and boost your cybersecurity.
Making time to look over your financial reports each month is an important task for any business owner. We have 6 reasons why we recommend you should start.
Opting for a self-managed superannuation fund (SMSF) may give you more control over your investment strategy and allow you to be more agile as a fund in the market
Do you have a plan for where you are heading with your business? It is never too early to think about your exit strategies. See our latest blog for ideas to start your planning.
When time really is money, it’s worth finding ways to reduce tedious and repetitive admin tasks – and better tech is usually the answer. Ready to automate jobs, digitise data and free up time? We can help.
As we head into the new financial year, it's the perfect time to review your Xero file. Xero is a fantastic business tool and can be easy to navigate, but with so many responsibilities as a business owner, things can slip through the cracks.
From spreadsheets to strategies: Discover if DIY accounting or hiring pro suits your business best!
The beginning of a new financial year is quickly approaching. What will you do differently this year to enable your business to thrive? Here are a few ideas to inspire your business planning for a positive start to the year!
A solid budget is the foundation for your company’s financial management and success. Here are 4 ways to stay in control of your business budgeting!
The 2024-25 Federal Budget is out! We’ve highlighted what you need to know for your financial year ahead…
The emergence of AI-driven tools like OpenAI's ChatGPT has captured significant attention, particularly regarding their potential to streamline internal operations and bolster employee productivity. However, amidst this technological surge, does the ascent of AI foreshadow the redundancy of human staff?
Tax time 2024 is fast approaching and with many individuals still working from home partially or completely, this quick guide can assist you with completing the calculations for claiming the deduction.
Using your cloud accounting software to just do the bookkeeping barely scratches the surface. Continue reading to find out how you can get more out of the cloud!
‘Business continuity’ is the process of planning out how your company can continue trading – when disaster hits. Keep reading to find out our top 10 steps to business continuity.
Are you hiring the best talent for your business culture? When hiring a new starter, it is critical to assess that they will fit seamlessly into your business culture… Here’s 5 ways to make sure your next hire is a perfect fit!
Your app stack generates a goldmine of insightful data everyday. Are you getting the most out of what your data can provide for you?
Bookkeeping is a fundamental part of the financial process for any business. Without it, your accounting software has no data to work with. Keep reading for some tips to maximise your bookkeeping.
The ATO is reminding businesses to lodge any overdue taxable payments annual reports for 2022-23 or prior years by 22 March to avoid being penalised.
To maintain a healthy cash flow, you need more than just strong revenue. Improve your small business cash flow by implementing five simple rules.
Carrying out an audit of your business finances is a mandatory requirement for many companies.
Spend management is all about getting in control of your expenses – and, where possible, aiming to reduce the level of costs and overheads that you incur as a company.
Technology is changing how we do business, adopting and integrating these new technologies is essential if you want to remain competitive.
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Tax may be boring, but smart use of tax planning is a superb way to help you do more with your money.
You can spend all day telling people how wonderful and great your product or service is, but what they really want is proof. Ask your most loyal customers to send you a short statement on why they chose you, or what they like about your product or service.
Are you tired of paying rent for your commercial premises and are considering buying property for your business? Owning a building works best if your business is well-established, you have money to invest, and you are taking a long-term approach.
Globally, 4 in 5 employers report difficulty finding the skilled talent they require. So, how do you find the people your business needs? Keep reading for five ways to maximise your prospects of finding the talent you need.
With the new year comes new year’s resolutions. Whether you aim to grow your business or create more personal time, having a clear vision and actionable goals can help you achieve your long-term plans. Here are some tips to get you started.
From creating eye-catching content to using hashtags effectively, this guide will help you build an impactful presence on Instagram.
As the holiday time of year approaches, it can be hard on small business. Is your business cashflow in good health to carry you through? Keep reading for tips to minimise the stress of cashflow over a holiday period so you can have a well deserved break.
As we head into the summer holiday period, we have some tips to help you navigate the sometimes confusing rules on entitlements for public holidays, shutdowns and leave provisions.
As a business owner, you know best of all that running a business is like juggling a dozen balls at once. As your business grows, so do your HR needs. Now WDF can help with your HR requirements.
Do you want to take your business to the next level? Here are 10 questions to ask yourself as a business owner to help position your drive to growth and success.
The countdown to Christmas and the end of year is on. Make sure to consider tax implications as you plan your business end of year function and gifts for employees and valued clients.
Every business starts with an idea. It might be a crazy concept that’s never been done before or a twist on a common product or service. It might be something everyone will want, or it might fill a tiny niche in the market. There’s no single way to find the best business idea – it’s about finding the one that suits you best. So how do you do that?
No doubt we’ve all experienced working in ‘good’ places and ‘not-so-good’ places. The work environment is one of the top reasons people leave their jobs. There are a lot of good business reasons to focus on creating a positive culture in your company. Keep reading for tips on how to develop and maintain a good company culture.
Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. Learning about the relationship between costs and revenue can assist you in making better business decisions.
Positive cashflow is integral to running a successful business. Here is our guide to understanding cashflow and how to get in control of your cashflow position.
Navigating the Australian tax landscape can be a complex endeavor, but understanding the intricacies of the PAYG Instalment System can make the process much smoother.
After a recent increase in ATO penalty rates in January 2023 and July 2023, this can now mean that if you fall behind on your tax lodgments you can expect the financial penalties to increase substantially.
Purchasing an existing company is a great way to expand your business empire. Whether this is buying out a competitor or dipping your toe into a new industry it is important to make sure you ask all the right questions before going ahead.
Managing your inventory to have the right products at the right time for your customers is critical in retail. Keep reading our blog for tips on product sourcing, tracking metrics and other key areas.
SMSF management can be time consuming and complicated. It's important to get your deductions and record keeping correct for the SMSF audit process and tax return.
Benefits provided to employees or their associates in addition to salary or wages are known as fringe benefits. These benefits are paid for by the employer from pre-tax earnings, making the provision of benefits attractive to employees.
Are you making the most of allowable tax deductions? We'll help you understand what you can claim.
In business, having the right people around you is so important. With the new financial year having just begun, now is the perfect time to plan for the future and assemble the team around you to help you achieve your goals.
As a trusted provider of accounting and business advisory solutions, we are excited to expand our services and offer a suite of HR support. Our dedicated HR service provides you with the support you need to focus on your strengths while we handle a range of HR matters for you.
The cost of replacing an employee can be high. When you calculate pay rises, make sure you are considering industry salary norms, inflation, the value your employee brings and the cost of replacing the person if they left your business.
53% of business owners suffer from stress and anxiety. So what can you do to take care of your own mental health and work mindfulness into your usual life routines?
On 2 June, the Fair Work Commission announced its annual wage increase. The increase applies from the first full pay period starting on or after 1 July 2023.
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From 13 September 2023, the price of Xero Business plans in Australia is changing. Read more about detailed pricing changes.
With the popularity of this non-traditional currency on the rise, its important to understand that there are tax obligations associated with acquiring or disposing of cryptocurrency.
As a business owner, part of your job is to guide the course of the organisation and provide the roadmap for success. We've highlighted five important elements that you need to focus on in your forward planning.
Trust management can be complex. Whether you have a trust set up for investment or business purposes, there are some common elements to getting ready for the trust’s tax return.
The ATO has announced the commencement of a new data matching program for property investors which involves obtaining data from various financial institutions. Among other things, the information collected will include loan details and borrowing costs.
The 2023 Federal Budget announced a $20,000 instant asset write-off for small business allowing those with aggregated annual turnover of less than $10 million to immediately deduct eligible depreciating assets costing less than $20,000.
The 2023 Federal Budget announced a number of key changes relating to superannuation. Read more here.
Do you stress about your work/life balance - a little stress can actually be good for you as long as you keep it within bounds.
A business mentor can provide guidance and support to enable you to make the right decisions, and to help you stay focused on the end goal as a business owner. But have you ever thought of your accountant as a mentor?
As working from home is becoming more common, it's important to consider the deductible expenses that may be claimed in your tax return.
The super guarantee rate will rise in July this year to 11%. Have you calculated the extra cost to your business? This rate increase may also affect salary packages. Prepare for this extra cost now so you don’t get caught out.
In business, there are many taxes to understand and navigate. The different business structures will mean taxes are paid in different ways. We'll help you manage and plan for the relevant taxes your business will need to pay, and we’ll claim the right tax concessions.
Did you know that authenticated digital signatures can be more secure than handwritten ones? However, not all digital signatures have the same level of verification and cyber safety and it's important to understand the differences.
Keeping up-to-date records of your business transactions may not be the most glamorous part of being a business owner and entrepreneur. But here's why digital bookkeeping is the way forward for any serious business in 2023.
Remote work has become increasingly popular over recent years. Many companies now offer their employees the ability to work from home or other external locations. Maximising remote working strategies can lead to increased employee engagement.
Which is more important? Cashflow or profit? We’ll explain why getting in control of your cash is vital for the stability and continued success of your business.
Building genuine networks can bring so much value - sharing ideas and learning from each other. They can broaden your horizons and may lead to new and innovative business opportunities.
Newly Introduced accountability measures for ABN holders means your ABN may be cancelled if you have 2 or more outstanding income tax returns for income years.
As businesses becoming increasingly reliant on technology and digital systems, cyber security risks also increase. We outline a number of strategies to start you on the right path of mitigating your cyber risks.
The NSW Government is launching an initiative to make home ownership more achievable for single parents, older singles and key worker first home buyers.
Getting your pricing strategy right is a critical part of business. Finding your pricing sweet spot can take time. Keep reading for five signs that you might be undercharging.
An investment in employee development is an investment in the future of your business. It’s also a sign that you want to support the careers and progression of your people.
When your business needs new plant or equipment, what’s the best choice – buy or lease? There are some basic considerations that can help you weigh up the options.
Thanks to compound interest, a little can go a long way. The earlier in your working life you start paying attention to your superannuation, the better off you will be at retirement. Most importantly, it's never too late to take action to grow your super!
Having a healthy workplace that support mental health and builds resilience is a win-win for employers and employees. Keep reading to look at ways leaders and managers can take steps to care for wellbeing and mental health in the workplace, support employee wellbeing, and build an open and supportive company culture.
The Fair Work Ombudsman and the Australian Taxation Office are actively investigating agribusinesses payroll records. If you are currently managing your farms payroll on a spreadsheet or paper-based records it may be time to convert to digital records.
Each year the ATO publishes industry-based data to highlight specific ratios of financial and other types of performance. Comparing your business performance against these benchmarks can be a useful exercise to see how your business is performing.
The Australian Government has introduced paid family and domestic violence leave for all employees. Next year, employees will be able to access 10 days of paid family and domestic violence leave in a 12-month period. This includes casual and part-time employees.
Keeping your data safe can be a big worry for Australia's digital businesses. Recent high profile data breaches have put the spotlight back on cyber security. Now's the time to get your cyber security reviewed, updated and tightened.
The building and construction industry is complex and has been hit hard recently. Getting the right administrative tools and software can ease the pressure that many are facing.
The Federal Treasurer, Dr Jim Chalmers, handed down the Labor government's first Federal Budget on 25 October 2022. Here are the highlights of some of the tax and accounting measures announced.
Is your business ready to scale up? Have you prepared with a viable scale-up plan with costings and budgets and achievable targets to meet?
The income test to qualify for the Commonwealth Seniors Health Card will increase to $90,000 a year for singles (up from $57,761) and to $144,000 a year for couples (up from $92,416).
It's never been more important to have a good grasp on your business finances to track, monitor and drive your financial performance. What are the key reports to focus on in your business?
If you're just starting in the workforce, it pays to learn about superannuation and how to make the most of it. Keep reading for some useful tips to get going on the right foot.
Getting paid late is bad for business. It constricts cashflow and sometimes even has the flow on effect of you missing your own bill deadlines. Fortunately, there are ways to minimise the pain of debtor follow-up. Here are 6 tips to help you get paid faster.
Knowing what your customers want helps you meet your growth targets. We’ve outlined 5 ways to improve your understanding of your customers, through better data, analysis and feedback.
A crystal ball would be handy in business. Good-quality forecasting can be just as useful, giving you an informed view of the future of your business and finances.
None of us truly know what lies around the corner. Sudden unexpected threats can catch you on the hop. A business continuity plan will help you to deal with situations that can otherwise derail your usual operations.
The foundational goal of any business is to make a profit. What is the difference between profit and cashflow and why is "cash king"?
We’ve all been doing a lot more remote working in recent times. Have you thought about the security implications of using your device on a public network?
From 1 July 2022, there are several changes to superannuation laws that you may be able to take advantage of. Keep reading to find out more.
Do you have new employees? Do you know about the new 'choice of super' rules? If you have any new employees that don’t nominate a specific superannuation fund, you may need to request their ‘stapled super fund’ details from the ATO.
The NSW Government has announced changes to stamp duty for first home buyers. The aim is to lower the up-front costs that are a barrier for many first home buyers entering the property market.
Make sure you are getting the most out of your investment property. If you have income from investment properties, now is the time to start gathering your records and reviewing your expenses for the 2022 financial year.
Need help with maximising your business deductions? There are many expenses common to most small businesses, and there are other expenses that are specific to the nature of the goods or services the business provides.
Keeping on top of payments coming and going to your bank account can take a lot of time. Keep reading to better understand the bank reconciliation process and how software tools can alleviate this task.
Do you know which business metrics and key performance indicators (KPIs) to track to manage the future path of your business?
Do you check your supplier ABNs? Many business owners don’t routinely check the ABN of suppliers, resulting in incorrect GST claims – either claiming too much or not enough. Now is a good time to review supplier ABNs and GST status.
When an employee leaves your business, it's essential to get the payroll and tax correct so you don't disadvantage employees or make costly errors.
Invoice fraud is on the rise. E-invoicing is the secure way to send and receive invoices and to protect you and your customers.
The 2022-2023 Federal Budget provides cost of living relief and measures for business to seek to promote innovation. Read more on the key points from the budget here.
Online shopping is hitting new records, growing dramatically and gaining new users. Is your business getting its slice of the online pie or do you need to invest more in your online presence?
Is a self-managed super fund something you're thinking about? Learn about some of the responsibilities that come with a self-managed fund.
Has an employee ever requested to cash out their annual leave entitlement? As an employer, there are some important rules to remember before paying out annual leave, to ensure your employees are not disadvantaged.
Are your ABN details up to date? The ATO may automatically cancel your ABN if they think the business has stopped trading. Talk to us to make sure the ATO has current information.
As a business owner, it is critical that you give yourself the best chance to get paid as soon as possible whilst maintaining client relationships. Some simple strategies can help this process.
Understanding tax on super can be complicated. We can help you get your ducks in a row! Minimise your tax and make the most of super with simple strategies.
Regular cashflow forecasts help you make informed decisions and are important regardless of whether your farm is in growth mode, expansion or just trying to stay afloat.
The NSW Government has announced a new Small Business Support Program as well as additions to previously introduced support program to help those small business hardest hit by the Omicron wave.
In the digital world, your company website is your main ‘shop window’ and will be the focus of much of your sales, marketing, and social media promotional activity. Do you know how your website is performing, and where online visitors come from?
Effective goal setting will help you get the very best out of the year. Whether you want to grow your business or take more time for yourself, our five goal setting tips can help you achieve your long-term plans.
According to recent research small and medium-sized businesses are spending on average 120 hours a year on admin tasks. Technology and software automation can go a long way towards automating the low-level admin tasks.
There are a significant number of major projects happening in our region. These projects provide great opportunities for our local businesses across many industries. Do you feel like you don’t know about opportunities, or you don’t know how to apply to be involved?
Earlier this year ASIC and the ATO announced that all company Directors will be required to hold a Director Identification Number (Director ID). Read more about how and when to apply.
They say competition is fierce, but we think it provides an opportunity for a business to learn and obtain insights. Find out what invaluable information you can gain from your competitors.
From team-building exercises to managing personalities and resolving issues, building a winning team is invaluable for your business, where you’re only as good as the team around you.
As a small business, do you ever feel that competing against larger retailers is a daunting prospect? Maybe a shift in thinking is needed. There are advantages to being small that may surprise you.
Make sure you set your small business budget! It's a great way to eliminate wasteful spending and get to profitability faster. Setting a budget isn't complicated but it can still help to involve an expert.
Small business is all about relationships. But when these go wrong, it is devastating. Ensure you have the systems in place to routinely look at where your money’s going in order to safeguard your business and your relationships.
Reminder to Employers: the Casual Employment Information Statement (CEIS) available from the Fair Work Ombudsman is now to be provided to existing casual workers as soon as possible after 27 September 2021.
Regular cashflow forecasts will help you make informed decisions. Whether your sales are boom or bust, you want to make sure that your costs aren't holding you back.
How well do you understand your revenue drivers? The better you can understand the nature of your revenue and its drivers, the more you can flex, manage and control your ability to generate this income.
Data is only powerful with context. It needs to be accurate and organised and you need to be clear on the necessities versus the niceties.
You don’t go fishing without checking the forecast, nor should you run your business without an annual forecast. The forecast tells us what's in store based on the direction we're heading.
Over the past eighteen months, businesses have had to update, change and pivot just to survive. Do you know where you're going and how it's impacted on your underlying business purpose?
Lockdowns, closed borders and uncertainty mean small to medium sized businesses are still struggling with the effects of COVID-19. Some recent research uncovered some common strategies for success in a crisis.
With lockdown now affecting all of NSW, it is timely to provide an update of the Government assistance that is available for NSW residents.
If you operate a building, cleaning, courier, road freight, IT or security business, you may need to submit a Taxable Payments Annual Report to the ATO.
With an estimated 130 trillion webpages identified by Google, how do you get a look in? Search engine optimisation (SEO) is all about providing internet users with the best experience and maximising your ability to be seen.
Businesses can get payroll wrong without being aware of it. Pay and payroll errors are a major risk for any business, so you need to know where you could be going wrong and ways to stay compliant.
The Federal and NSW Governments have announced further support aimed at helping businesses and people right across the state fight through the current COVID-19 lockdown.
Employers, there are some important changes to employing casuals. You must provide a Casual Employment Information Statement and offer permanent employment in some situations.
Today the Premier announced a new support package for small businesses across Sydney and regional areas impacted by the current Covid-19 Restrictions.
By Gillian Hayward
Have you been effected by the mouse plague? If so, there are a range of funding measures available to assist.
Software technology has evolved massively in the past decade. To ensure you’re getting the best from the available tech, it's important to choose the right apps and to create the ideal 'app stack' for your business.
By Christina Cotter
The Fair Work Commission has announced a 2.5% increase to the national minimum wage to apply from 1 July 2021.
The Federal Budget 2021-22 is all about economic recovery, including tax cuts, business incentives and investment in training. Many changes in the budget can benefit individuals and business owners.
Work-related stress and mental health conditions can significantly impact a business. As a business owner you need to look out for your employees, and you also need to look after yourself. Keep reading for some tips to start you on the right path to ensuring mental health matters to you and your organisation.
By Charles Talbot
Are you paying your employees superannuation on time, every time? If not this will cost you money. Significant fines and penalties can be
imposed and they can stack up quickly.
The NSW State Government is supporting small businesses to recover from the impact of the Covid-19 pandemic by providing a rebate to help with the cost of government fees and charges.
By Charles Talbot
Are you paying the correct amount of superannuation to your employees on time? The Superannuation Guarantee can be complex. It is critical
to understand and ensure you are meeting your obligations.
Should your staff be contractors or employees? There are many factors to assess and it’s the business owner’s responsibility to get it right.
By D'Lene Browning
There are a range of tax measures that are available to primary producers to help minimise tax obligations. Now is the time to review your
financial estimate for the 2021 financial year.
By Lauren Taylor
Getting paid for the work you do is important, that is why it is crucial to have an effective accounts receivable process in place.
By Sarah Cochrane
As a Self-Manager Superannuation Fund (SMSF) trustee, record keeping is one of your key responsibilities.
By Lucy Suthern
Bookkeeping is an essential task for business owners. Well-kept books are a must when it comes to completing accurate tax returns and
working with lenders.
By Gillian Hayward
Does your business deal in trading stock? Do you know your requirements when preparing your annual stocktake?
By Kimberley Butler
ATO audits and risk reviews are on the rise, with JobKeeper and COVID-19 payments now on the ATO’s radar. Getting help to professionally
manage the audit will save you time, money, and can make the process easier.
By Christina Cotter
Leveraging your technology will provide you with accurate real-time data to make more informed decisions in your business.
Have you maximised your concessional super contributions for 2019? Act now to take advantage of the new rules allowing you to make a top-up payment. Get in touch today before your super fund contribution deadline for 2020.
Dismissing an employee is never easy. But if you understand and fulfill your obligations, it will make the process easier for everyone and help you stay on the right side of employment law.
By Katy Isherwood
To support the dining, arts and tourism industry the NSW Government has launched Dine & Discover NSW in an effort to encourage the
community to support these industries.
One of the most challenging aspects for a small business is seasonal dips in income. But there are proactive ways to predict, plan for and overcome these dips in revenue.
By Gillian Hayward
Are you looking to undertake succession planning or recently undertaken succession planning? Are you looking to purchase or establish your
first farming business? There is new government assistance available to support new and intergenerational farmers.
By Christina Cotter
The Fair Work Commission determined that the minimum wage rates provided for under Modern Awards would increase by 1.75%. The timing of
increases will be staggered across awards.
By Steven Castelletto
It is that time of year again where we step away from the numbers and tax legislations to discuss cybersecurity.
Since 1 July 2010 concessional stamp duty rates have been available to SMSF’s on the transfer of NSW business real property from a member to the SMSF. A duty of $50 applies to eligible transfers where there is no borrowing and $500 where there is borrowing.
By Charles Talbot
At some stage in the business lifecycle, most business owners will struggle with setting the price of a product or service. A range of
factors can impact pricing. Keep reading as some of the factors around setting price and understanding your business costs are explained in
more detail.
By Gillian Hayward
Is your business growing and expanding and looking to take on more staff? You may be eligible for the JobMaker Hiring Credit.
By Gillian Hayward
Round 3 of the drought transport subsidy is due to end on the 31 December 2020.
By Christina Cotter
Small Business Month: Tips for Claiming the Instant Asset Write-Off
By Tui Silvester
Do you have a payroll tax liability for the 2019/2020 year or for the months of July to September 2020?
By Brooke Guiton
A detailed overview of invoicing requirements.
By Gillian Hayward
Top measures released in the Government’s 2020 Budget that may affect you and your business.
By Andrea Bradley
With October being Small Business Month, we reflect and feel fortunate to have the opportunity to work with many small businesses.
By Vicky Richards
Check the rules before you act.
By Katy Isherwood
When a new business commences, a common question that is asked is "Should I include GST on my invoices"?
By Gillian Hayward
Are you aware of changes made to the Farm Household Allowance?