Insights

In today’s digital landscape, small and medium enterprises (SMEs) are becoming prime targets for cybercriminals. As businesses embrace new technologies to streamline operations and enhance customer engagement, they also expose themselves to a greater risk of cyberattacks. Unfortunately, for many SMEs, even a small cybersecurity incident can have devastating effects.

In news announced recently, the current Queensland Labor Government has announced it will match the Liberals commitment to scrap the proposed legislation that was due to commence 1 July 2025, after the current amnesty ends.

Are you aware of the ATO Reporting Requirement due 28 August each year?

The Federal and State based laws can often be complicated especially for independent and small construction companies. It’s important to be aware of your obligations so you can avoid any mistakes that might lead to serious compliance issues. Some of the issues include managing subcontractor payments, payroll tax, and handling GST.

As Tax Time approaches, the ATO has announced it will be focusing on three commons errors made by taxpayers, and cracking down on Division 7A mistakes.

The end of the financial year is fast approaching, and with it comes a number of important deadlines and changes business owners and tax payers need to be aware of. From deadlines for deductible contributions to adjustments in tax rates and super guarantee contributions. As tax and business advisers we want to ensure you have a smooth transition into the new financial year, stay on top of your financial obligations and take advantage of any available benefits.

The traditional hourly billing model, long favoured by professional services firms, is facing scrutiny and disruption in the face of technological advancements and evolving client expectations. As technology enables greater efficiency and transparency, it is often wondered if the billable hour is necessarily a true measure of value. Many firms are re-evaluating their approach to pricing, turning towards value-based models that prioritise outcomes over billable hours.

Starting your own practice can be a rewarding but complex endeavour that involves careful planning and execution. It allows you to have greater control over your career and patients, however, it can become overwhelming when trying to understand all the legal and financial considerations. Below we set out some key steps when starting your own medical practice.

As business owners, significant time is dedicated to the operations of your business, however, sometimes when you are clouded in the day to day, it is difficult to step back and analyse the financial health of your business and potential growth opportunities. It also becomes increasingly difficult for one person to oversee all finances, therefore it is critical that SME businesses receive timely and incisive advice.

In approaching the end of the Financial Year, we provide key analysis into potential tax changes to take effect from 1 July 2023, with potential insights covering Instant Asset Write-Off, Fringe Benefit Tax, and Superannuation.