The ATO have made options available to assist businesses impacted by COVID-19. These include: Deferring by up to four months the payment date of amounts due through the business activity statement (including PAYG instalments), income tax assessments, fringe benefits tax assessments and excise Allow businesses on a quarterly reporting cycle to opt into monthly GST…
Month: March 2020
6 things to do when you don’t have cash reserves and find business not to be as usual
Would be nice if we all had built cash reserves to deal with the kind of uncertain economic time we are living in at the moment. Truth is most of us haven’t built up the necessary cash reserves. Here are a few things small businesses can do today to help themselves: Ask debtors to pay…
What is your “Z”?
It is very easy for us at end of a day, week, month, year or even our life to wonder – What did I do? Did I make the most of it? Was I suppose to be here at the end of it? An honest answer to the questions can be very unpleasant. So what…
You cant keep the markets down
It’s very easy to get into panic mode with your finances when you hear what is going on around you and the world generally but remember your long term goals and try not to get caught up in the daily headlines. The markets have always overcome whatever challenges that have been thrown at it.
How open is your business?
Everything about a job interview is hush hush in most small businesses. When candidates come in they are rushed away to a room and after the chat (Aka interview) they are rushed out of the door so no one knows anything more than they should. The only thing the candidate knows about the work and…
Misinformation in plenty
Was reading a finance article and came across a piece of article that claimed that a certain company is suffering X millions of dollar loss per month because of a certain virus. Massive number I thought, let me look around and see if this is true. Checked around and came across articles that said: X…
Putting your money where your home is
There is always need to support your local businesses but if a disaster strikes or the economy is not going well the need to buy local and support local small businesses multiplies. Outsourcing services to overseas providers, sourcing cheaper ingredients or importing products might save you a few dollars but at times as business leaders…
Same Difference
Looking for flights for future travel I was comparing flights on a couple of sites. To my surprise the same flights were 3.7 times higher on one of the sites compared to the others. Flights have become a commodity and surely there was no difference as both were exactly the same classes and same times…