Depending on how COVID-19 has impacted you or your business, it might be more important than ever to know your credit score. The reason why your credit score is important is because it could influence how financiers and other credit providers (such as suppliers of goods or services) assess you as part of their credit […]
The instant asset write-off scheme allows eligible businesses to immediately write off, as an expense for tax purposes, new or second-hand asset purchases. For the period 12 March until 31st December 2020, the instant asset write-off has increased as follows: Threshold amount for each asset increased to $150,000 excluding GST (up from $30,000) Eligibility expanded […]
The Australian Government has announced an increase in the instant asset write-off from $30,000 to $150,000 in response to the economic impact of the coronavirus. The increased limit is in effect until 30 June 2020. Amid novel coronavirus (COVID-2019), this is likely to be welcome news for many Australian SMEs. In 2017-18, there were more […]
Cash flow is a constant challenge for many small to medium businesses. There are many reasons why businesses run into a cash flow crunch – it could be slow debt collection, bad debt, seasonal sales fluctuations, overinvestment in production capacity, or too much stock. Whatever the cause, a cash flow crunch can be a threat […]
With the new financial year in full swing, now is the time to start getting organised for the year ahead. We have put together 5 tips to help you get things on track. Stay organised It sounds obvious, doesn’t it? Having a plan that stipulates your deadlines & looming payments can help reduce stress and […]