Albanese Government Warns of Malicious myGov Scammers Targeting Businesses
In recent years, scammers have become increasingly sophisticated in their tactics, particularly when it comes to impersonating government entities like myGov and the Australian Taxation Office (ATO). These malicious actors are constantly finding new ways to exploit unsuspecting victims, and businesses are not immune to their schemes. The Australian government
The Dreaded ATO Tax Audit – Latest Stats, and How to Be Ready
For any business owner, one area that often causes concern is the potential for audits and reviews by the Australian Taxation Office (ATO) or other government revenue authorities. While these audits may not necessarily reflect any faults in your book-keepers or accountant’s work, they can still disrupt your business operations. Staying informed about th
Australian Company Failures Surge to 11-Year High, ASIC Data Reveals
In a stark wake-up call for Australian businesses, the latest insolvency data from the Australian Securities and Investments Commission (ASIC) paints a grim picture of the corporate landscape. With a staggering 36.2% increase to 7,742 companies entering external administration from 1 July 2023 to 31 March 2024, it’s clear that the aftershocks of the pan
Is It Really Possible to 10x My Profit? 4WD Garage Case Study.
Every business owner strives to maximise their profit margins. But is it really possible to 10x your profit? The answer might surprise you. Recently, I had a conversation with a business coach who shared an incredible success story about one of his clients. This client, a 4WD mechanical shop and customisation business, managed to achieve […]
Boosting Profitability in Your FMCG (or Nearly Any) Business: A Case Study
As a fast-moving consumer goods (FMCG) business owner, you’re always looking for ways to increase your profitability. While there’s no magic formula for instant success, the strategic incremental changes shown in the case study below, can seem like magic! In this blog post, we’ll walk you through a case study that demonstrates the power of [&h
Only One Month Until EOFY – Top Five Things Every Business Should Do
As the end of the financial year (EOFY) rapidly approaches, business owners must take a step back and ensure they’re well-prepared for the upcoming tax season. With only one month left until the 30th of June, now is the perfect time to review your financial situation and make any necessary adjustments to optimise your tax […]
How the 2024 Federal Government Budget Affects Businesses Across Australia
In the latest Federal Budget, the Albanese Government has introduced several measures aimed at supporting small and medium-sized businesses, encouraging foreign investment, and improving compliance. As a business owner, it’s important that you understand how these changes may affect your operations and financial planning. Let’s discuss the key announc
His Wife Ate a FishHook at a Michelin-Guide Rated Restaurant!
What Happened Next is a Great Lesson For Businesses! (Photo Credit: Tawk.to) Recently, Robert D’Assisi, a founder and CEO of a major online customer service platform, were enjoying a meal at a Michelin guide rated restaurant in Latvia. Mid-way through his meal, his wife found a fish hook in her mouth, after chewing on a […]
Are Micro-Office Spaces the Future for the Modern Small to Medium Sized Business?
(Photo Credit: Architonic) In today’s digital age, the traditional large office space with industrial equipment and high-capacity meeting rooms is no longer the only way to do business. With technologies like cloud computing, video conferencing, and AI simplifying work, companies really just need a flat surface and WiFi to operate. This has made it easier
Bitcoin Halving 19/20th April. What Might Happen? What About Tax Implications?
Key Takeaways Bitcoin’s upcoming halving event is expected to occur on Friday or Saturday, potentially leading to significant shifts in the cryptocurrency market. In Australia, you generally only pay tax on realised capital gains from your crypto investments, not unrealised gains Summary – What is Bitcoin Halving? – Bitcoin’s next halvin