News

This week was another busy week in business with plenty of Australian and international news. Read on for the latest updates about new travel bubbles, Google’s latest investment and Director Identification Numbers. Australia Hits 90% Single-Dose Mark Australia has hit a new milestone, with 90% of those who are 16 years old and above having received at least one dose of a COVID-19 vaccine. This makes every state and territory…  Read more

Buying a property is a big investment. It’s often one of the most important investments people make in their lives. When it comes to getting a mortgage, many buyers focus solely on the immediate steps they have to take and fail to consider the right protections. This week’s article breaks down some key types of mortgage insurance and answers the question, do you really need insurance for your mortgage? What…  Read more

Spending Increases as Lockdowns are Lifted As COVID-19 restrictions ease across the country, spending tracked 20% higher than the corresponding week of 2019, according to the weekly credit and debit card spending data from the Commonwealth Bank. National spending is on track to hit the growth levels seen earlier in 2021, which averaged at 22% above pre-pandemic figures in late April and early May 2019. Job ads increase 6.2% in…  Read more

This quarter’s NFP newsletter is another jam-packed edition covering off all the news in the NFP space. Read now about Australian Director Identification Numbers, Red-tape Reductions, Deductible Gift Recipients and all the latest ACNC activities. Click here to read NFP Advisor Issue 30 – October 2021  Get in contact with us to discuss NFP or any of your other business advisory queries.  Read more

In its 2020 Budget Digital Business Plan, the Australian government announced the full implementation of the Modernising Business Registers (MBR) program. The program is designed to both establish the new Australian Business Registry Services (ABRS), and enhance how businesses register and manage their information with the government. Although the ABRS rolls out progressively between 2021 and 2024, one of the immediate changes is that business directors must obtain a director…  Read more

Busting the top 5 myths about sorting your finances Wondering where all your money goes is common: no matter how much you earn, it seems like there’s never enough and it just seems to vanish. Research shows that 86% of Australian’s do not know where their money goes each month[1]. So, if this sounds familiar, you’re not alone. It can be an overwhelming feeling, often not knowing where to start.…  Read more

In this month’s edition of Tax & Super, we take a look at a few different topics in the space of Tax and Super. This month’s newsletter is a busy one! Including, compensation payments, the home as a place of business, inheriting rental properties jointly, SuperStream deadline fast approaching, Christmas & the Taxman. Don’t miss out on this jam-packed newsletter. Read more by clicking this link  Read more

If you’re looking to grow your business, you might consider expanding your service offerings. Adding additional services is a good way to increase your profitability, diversify your income and expand your market. But there are important things to consider before adding to your income streams. Here are 4 important things to keep in mind when you consider adding to your services. 1. Does the expansion complement your business? The best…  Read more

You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time. Too many business owners think they must keep working harder—taking on more responsibilities and working longer hours—to be successful. It makes sense, because you’re responsible for your business, but that route leads to work overload and…  Read more

The September edition of Super Matters is available for you to read on our website. This issue has the following topics covered. Using your Super for an Investment Property – Is it worth it? Case study – How to avoid paying additional Tax on Super SMSFs breaking the rules – Penalties and Punishments New rules in place for SMSF Auditors The Super Matters newsletter is available here to read. If…  Read more

Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. There is no single factor that determines how much cash every business needs to have on hand. Somewhere between 3-6 months of operating expenses is…  Read more

If you want your business to grow, at some point you’ll have to think about scaling it. Scaling it isn’t exactly the same as growing it, though they are often used interchangeably. Growth refers to adding resources and increasing your revenue in a linear fashion. You double your number of offices to double your number of customers, for example. Scaling means increasing your revenue without a substantial increase in the…  Read more

This season’s edition of the Collins and Co wealth management newsletter is packed full of news and interesting wealth management topics that we’re sure you’ll love. We cover the latest news in the wealth creation space, aged care payment options, superannuation insurance and flourishing vs languishing mentality. Read more: Flourishing vs Languising, Superannuation insurance and Aged Care Payments  Read more

Working away from home, the ins and outs of being between homes and more SMSF news. This month’s tax and superannuation newsletter is brimming with information about emerging risks in SMSFs, changes to travel costs for those working on the road and buying a new home before selling the old one. Read more in this link. On the road again, being between homes and emerging risks in SMSFs.  Read more

“Good things don’t last forever” The unfortunate reality is most business owners don’t take proper holidays. Usually, this is because their business relies on them and they don’t have the support to keep the business running without them. As a business owner, have you ever considered what would happen to the business if you had to take a six months break because of a serious illness or injury? Would the…  Read more

Starting your own business requires enough capital to ensure you can pay your bills until your company turns a profit. Depending on the type and size of your business, you may need thousands of dollars monthly to cover overhead. If you’re wondering where to find business start-up funding, there are a variety of options available to you. Each of these options has its advantages and disadvantages, and it’s important to…  Read more

The winter edition of Tax Matters is now available for you to read. Cryptocurrency is a hot topic at the moment. The ATO treats any profit made from cryptocurrency as either capital gains or income. Please read for further information. In this edition, we discuss the following topics. Tax Consequences of Cryptocurrency Record keeping tips for your next tax return What to avoid doing when making a car-related tax deduction…  Read more

Starting a business means you’ll be in competition with other companies that already exist. It’s actually a good thing if you have competition to go up against. Competition pushes you to be innovative. It also means there’s an established market for your goods or services. The key to benefitting from competition is knowing how to effectively take on competitors so your company earns a profit. Here are some ways to…  Read more

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Australia Closes One-Way Travel Bubble from NZ Australia has paused “green zone”…  Read more

You started your business with plans of earning a living and being successful, but an unfortunate fact of business life is that companies suffer financial hardships. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are negatively affected and it’s up to you to lead the recovery. Here are 5 steps you can take to help your business recover after…  Read more