5 things that will make or break your business’s Christmas

5 things that will make or break your business’s Christmas

The countdown to Christmas is now on and we’re in the midst of the headlong rush to get everything done and capitalise on any remaining opportunities before the Christmas lull. Busy period or not, Christmas causes a period of dislocation and volatility for most businesses. This dislocation and volatility mean that it is not ‘business […]

read more »
Why the Government does not want your business accepting cash payments of $10,000 or more

Why the Government does not want your business accepting cash payments of $10,000 or more

From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring the limit will become a criminal offence with penalties of up to 2 years in prison and/ or $25,200*.  Payments of $10,000 or more will need to be made electronically or by cheque.  We’ll, easy enough you say, just break it up into smaller amounts! But, the […]

read more »
How to Prepare for a Tax Office Visit

How to Prepare for a Tax Office Visit

The Tax Office is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy.   This financial year, the ATO has visited 22 regions with another four in progress. Next financial year they plan on visiting over 10,000 businesses.   The ATO is seeking to identify businesses that are hiding sales, paying cash in hand, or are […]

read more »
The new rules for gift cards – what you need to know

The new rules for gift cards – what you need to know

In Australia, around 34 million gift cards are sold each year with an estimated value of $2.5 billion. On average, an estimated $70 million is lost because of expiry dates.  Until recently, there was no national regulation for the minimum length of time a gift card should last. In late 2017, New South Wales introduced […]

read more »