SMALL BUSINESS TIPS Retailers and tourism businesses are in their busiest time of year, but if you have a service business, you might find things are starting to slow. You might also be bracing yourself for a quiet January. Trouble is, it’s also around this time that spending and splurging is unavoidable with Christmas parties,...
The Australian Taxation Office has put out a media release with more details on its visits to businesses in the Bega Valley and South Coast during November. Read full story. The ATO is particularly likely to visit cafés and restaurants, hair and beauty salons, carpenters and hotels and motels. Assistant Commissioner Peter Holt said the...
The instant asset write-off threshold has increased to $30,000, and has been extended to 30 June 2020. The instant asset write-off now also includes businesses with a turnover from $10 million to less than $50 million. These businesses can claim a deduction of up to $30,000 for the business portion of each asset (new or...
Australian lawmakers have passed legislation that requires even the smallest of employers to electronically file each pay run with the tax office using Single Touch Payroll, starting July 1. It’s a big ask for the nation’s 2.3 million small businesses, which employ 40 percent of all workers. It’s also a big opportunity. Good time to...
Our February edition of Kothes Advantage covers a broad range of topics but the biggest one that needs attention is changes to the Single Touch Payroll that start on July 1. We’ve included an article published by Xero, who we are Gold Partners with, as it gives a good overview of opportunities for small businesses...
By Kevin Philistin, Kothes Director & Merimbula Tourism Inc President Businesses in towns such as those on the Sapphire Coast including Merimbula, Bermagui, Tathra and Eden have just experienced another hectic summer season, with another record year of visitors coming to enjoy this beautiful part of the world. But what happens when the crowds go...
The Government has established a Small Business Digital Taskforce, to be headed by entrepreneur Mark Bouris AM, to ensure more Australian small businesses can thrive in an increasingly digital economy. Mark Bouris said: “When a business begins to digitise and use digital tools, it opens up new opportunities to grow, diversify revenue streams, find talent,...
Cloud accounting may be a bit of a buzz word, but it’s actually one of the best things to happen to business owners. At Kothes Accounting Group, more and more of our small business, medium-sized business and individual clients are changing their accounting systems to cloud-based. The major accounting programs for businesses such as MYOB...
At Kothes Accounting Group we realise running a small business can be overwhelming, particularly when it comes to tax planning and keeping up with tax changes. We’ve put together a few simple small business tax tips for you, and if you would like further information, please don’t hesitate to contact your Kothes chartered accountant. Be...
Procrastination is often described as the art of putting off until tomorrow what you should be doing today. Unfortunately it can be a big obstacle to business success. Here’s how to beat it. 10 top tips 1. Prune your ‘to do’ list ‘To do’ lists aren’t always useful. Sometimes they make the situation worse. Many people...