The Latest from Bayside Business Accountants
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How to Make this Festive Season FBT Friendly
The Christmas season is here! Festive celebrations, gifts and entertainment become common occurrences at the workplace during this time of year. However, most employers get a shock during the annual audit toward the end of the financial year, as they realise the overall cost of gifts and partying doubled up due to the Fringe Benefit Tax or FBT.Read More
Expanding Your Business to Asia? Here Are a Few Key Considerations
With a staggering population of over 4.4 billion spread across over 50 countries, Asia has a distinctly diverse business landscape. Naturally, they are one of the most favoured consumer markets for international businesses.Read More
Tick these Crucial Checkboxes For a Profitable Business Expansion
Did you know small and medium sized enterprises (SMEs) have the lion’s share in Australia’s GDP? According to a report, small businesses form the backbone of the Australian economy with a colossal contribution of 57% to its annual GDP and 7 million job generation.Read More
Take Charge of Cash Flow In Your Business with These Tips
It is no secret that insufficient and poorly managed cash flow can cripple even the most profitable businesses. According to a new study from Wakefield Research, commissioned by Intuit Australia, small businesses in Australia have lost opportunities worth $5.8 billion due to inadequate cash flow. It is essential to take control of your cash flow to keep your business going even during a turbulent phase.Read More
Keep your Business on Track by Staying on Top of your Bookkeeping
Financial management is no child’s play, especially when your business is still taking baby steps in the volatile market. Inadequate cash flow and haphazard finances can cost you dearly, taking your business back to square one. That’s the reason why you need to iron out your finances early on to survive, thrive and flourish in a fiercely competitive business world.Read More
New Financial Year 2019-20: Get Your Finances In Order
The start of a new financial year is the right time to start preparing your business for the fiscal year 2019 - 2020.Read More
‘Cash in hand’ payments to workers no longer tax deductible
The ATO has reminded employers that any ‘cash in hand’ payments made to workers from 1 July 2019 will not be tax deductible.
‘Cash in hand’ refers to cash payments to employees that do not comply with pay as you go ('PAYG') withholding obligations.
Four Amazing Tips for Cryptocurrency Tax in Australia
The transaction and use of cryptocurrency in Australia are evolving rapidly. If you’ve bought, sold or even traded using cryptocurrency, you have a tax obligation to retain records. Here are a few essential tax tips that you need to consider if you have made a profit by trading in cryptocurrency:Read More
3 COMMON CAUSES OF CASH FLOW GAPS AND THEIR SOLUTIONS
Most businesses – be it small or big – struggles with cash flow gap at some stage. However, it can be really detrimental for a small business.
Here we have listed down a few common causes that widen that cash flow gap: