Build your financial security with OBT Financial Group – Lockyer Valley’s Business of the Year 2015 and specialist financial advisers to individuals, business owners and farming families on accounting, tax, business advice and wealth planning for over 30 years.
As we kick-off the new year, the right technology can help you get new customers, upsell to existing ones, expand your offering and improve efficiency so you have time to focus on what matters. Here are some tips on the technology that will have an immediate effect on your business.
Fringe benefits tax and Christmas parties
Reminder about potential FBT implications for celebrating with employees this festive season. FBT obligations depend on the amount spent, when and where a party takes place, who attends and the value and type of gifts given.
Does your business hire contractors?
When hiring workers, do you understand the difference between contractors and employees for tax and super purposes?
How to increase your existing customer base
Growing your business means more cash for you now plus a higher sale price in the future when you decide to eventually sell your business. This article covers how you can increase your customer base by focusing on your existing customers.
Meet your PAYG Withholding Obligations or lose your tax deduction
Are you meeting your Pay As You Go (PAYG) Withholding obligations? If you are running a business, you can no longer claim deductions for payments to employees or workers if you have not met your PAYG obligations. This applies to tax returns lodged for the 2020 year onwards
No tax deductions for unmet tax obligations
Don’t lose your tax deduction for your employee or contractor payments. Do lodge your BAS on time and lodge your STP events every time you pay wages and withhold the correct amounts from your payments to employees and subcontractors. Read why.
What’s important to your team
Managing people is one of the toughest parts of running a business. Team development issues can have a real impact on your business reputation, customer retention and profit. Here’s how you put a system in place to listen to your team and use their feedback to make real changes to your business.
Home office expenses
Expenses you can claim If you’re an employee who regularly works from home, you may be able to claim a deduction for expenses relating to that work. These are generally home office running expenses, and phone and internet expenses. In limited circumstances you may also… Read More >>
Single Touch Payroll
Single touch payroll will change the way businesses report salary/wages, PAYG and superannuation information to the tax office. So what is single touch payroll and how big is the change? We explain the main points.
Your business processes
Business Processes: Sometimes You Develop Them… Sometimes You Destroy Them There is a lot of talk in business about developing and implementing business processes. Once we understand the series of actions which result in a desirable outcome, we should teach people how to follow that… Read More >>
