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Blog

News, Advice & Information.

Single Touch Payroll is coming for SME businesses

Federal Parliament has approved Single Touch Payroll (STP) for SME businesses and will apply from 1 July 2019. In the world of STP, a SME is any employer with 19 or fewer employees. If you are the owner or manager of an SME, here’s what you need to know. What is STP? Each time you run your payroll and pay your employees, you will send at the same time data to the Australian Taxation Office (ATO) information about each employee’s salary and wages, pay as you go (PAYG) withholding and superannuation liabilities. Shortly after you transmit the data, the information...
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Morrison’s Drought Breaker

The Federal Government has turned the spending tap back on, signalling the end of the revenue drought since the GFC and the end of the mining investment boom. As widely anticipated, Treasurer Scott Morrison’s third Budget has cut income taxes, boosted support for senior Australians, delivered $24.5 billion of new infrastructure spending and promised a return to surplus by 2020. That’s a year earlier than previously thought possible and would be the first surplus since 2007-08. In a call to arms, in what is likely to be the last Budget before the next federal election, the Treasurer urged Australians to...
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How Blockchain is already changing your world

Although we are only at the tip of the iceberg of blockchain’s immense potential, industry leaders like Bob Greifeld, CEO of Nasdaq, have already pegged the emerging technology as “the biggest opportunity set we can think of over the next decade”.i From the humble origins of Bitcoin, blockchain has since captured the imagination of everyone from Richard Branson to Bill Gates and virtually every large financial institution on the planet. Its purpose? To maintain the truest representation of data and transactions throughout the world, by minimising fraud, human error and even system failure. And that’s without mentioning the financial benefits –...
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Turn your passion into your profession

There’s a famous quote, usually attributed to Mark Twain – “Find a job you enjoy doing, and you’ll never have to work a day in your life”. It’s definitely a romantic way to think about one’s profession. There’s no doubt that people who genuinely look forward to going to work and embracing the day’s challenges are happier, more fulfilled, and more successful in terms of their career paths. Unfortunately the reality is that very few people are fortunate enough to derive income from doing something they’re passionate about. Even those that say they love their jobs don’t love them every day. If...
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Good Protection From Bad Debt: 10 Fast Facts About Credit Risk and Trade Credit Insurance

Arrium Mining and Dick Smith Electronics were two of the largest collapses in 2016. Both ASX listed and well established businesses. There is no certainty in size or reputation. Other well known brands that went into insolvency recently include: Payless shoes, Herringbone, Marcs, Huxley Homes, Howards Storage, BLK, Pie Face, Keystone and many more. Both the Retail Industry and Construction Industry are flagged by trade credit insurers as growing risks in the next 2 years. Mining continues to be volatile in some sectors. Facing Retail is the impending arrival of Amazon and other online competitors that are challenging traditional bricks...
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