Why accurate leave management is so important
Your business could be at a serious risk of making costly errors if you aren’t managing your leave correctly. Read More…
The Reserve Bank of Australia recently cut interest rates to 4.1%, down from 4.35%. This marks a significant shift after thirteen consecutive rate hikes between May 2022 and November 2023 – so it’s big news that the interest rates are finally coming down.
The final impact of this drop can have both positive and negative on your business, so it’s worth understanding the effect that interest rate changes can have.
Let’s take a look at how a drop in interest rates may affect your finances
Reduced cost of borrowing
Improved cashflow
Better opportunities for investment
Economic growth
Stimulate the economy: Lower interest rates encourage borrowing, investment and consumer spending, which boosts economic growth. This creates a more favourable environment for your businesses to thrive in. A stronger economy = a more stable future.
How can you take advantage of lower interest rates, let’s talk tax
With tax planning season around the corner, now is the perfect time to review your finances, investment strategies, and borrowing needs. Lower interest rates create new opportunities, and with a well-planned approach, we can help you maximise tax benefits and long-term business growth.
Want to explore how these changes impact your business and what tax strategies you should consider? Talk to our team—we’re here to help you plan and grow.
Cadet Accountant
Why accurate leave management is so important
Your business could be at a serious risk of making costly errors if you aren’t managing your leave correctly. Read More…
Deductions denied for ATO interest charges
The ATO can apply a general interest charge (GIC) if an amount of tax or some other liability remains unpaid after the due date. Read More…
Reducing the uncertainty: Financial Forecasting and Planning
Analysing your cashflow statements, profit and loss reports and quarterly management accounts gives you an indication of where you’ve been as a business by using forecasting and scenario-planning, you make it easier to manage your finances and reduce some of the financial uncertainty. Read More…