Business Structures: The Key Differences When starting a business, one of the first decisions you’ll face is choosing the right structure. The most common business structures in Australia are sole trader, partnership, company, and trading trust. Each has its own tax implications, legal responsibilities, and benefits. Understanding the key differences will help you make…
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Outsourced Finance Department (OFD): How does it work? Many small business owners don’t realise their accountants can do much more than just tax returns and compliance work. While traditional accounting focuses on bookkeeping and tax filings, a fully integrated financial solution goes beyond these basics—helping businesses optimise cash flow, improve financial reporting, and…
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Solve Cash Flow Problems and Build a Financially Resilient Business For many small and medium-sized enterprises (SMEs), cash flow issues are the biggest obstacle to growth. Poor cash flow can hold a business back even when profits are strong, systems are streamlined, and internal operations are running smoothly. A common reaction from business…
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Outsourced Finance Department: Evolution of the Accounting Profession The accounting profession has undergone a remarkable transformation. No longer limited to “processing the past,” accountants are now stepping into the role of trusted advisors, helping small businesses navigate their financial futures. At the heart of this evolution is the emergence of the Outsourced Finance…
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Success Profile – Watertight Plumbing & Drainage Chase Bailey, the Director of Watertight Plumbing & Drainage is one business owner who not only understands the importance of hard work and dedication, but how putting the correct systems in place helps the whole operation run smoother and sets you up for both business and financial…
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Tax Planning: Checklist for small business owners As the financial year approaches its end, it’s the perfect time for small business owners to take control of their tax planning. Proper planning can help minimise tax liabilities and keep more of your hard-earned profits. Here are our top 10 tips to optimise your tax…
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Outsourcing Finance: The Best Move for Small Business Small businesses often face an uphill battle when it comes to managing finances. Many struggle to afford the expertise of a full-time, in-house finance team. This gap in financial management and strategy is a key reason why so many small businesses don’t survive beyond the first…
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Drs Laura Lum and Tom Hogan affectionately refer to themselves as the gas and the pedal of their successful healthcare business on Sydney’s beautiful Northern Beaches. They first opened the doors for Elanora Heights Medical Practice October 17th 2015. The husband and wife duo, passionate about open-minded whole-person healthcare wanted to ensure the practice offers…
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When the pandemic took hold earlier last year, the Government implemented a slew of support measures to ensure that individuals and businesses were given financial and obligatory relief to see them through the first recession Australia had seen for nearly 30 years. Businesses were assisted into hibernation through stimulus measures including the JobKeeper Program…
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Many business owners feel they need to be 100% involved with all aspects of their business for it to run successfully. This is particularly true of Tradie business owners who have normally spent many years being “hands on” and engaged in their craft from which they have built their venture. The truth is, delegation and…
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