Entries by Mark Douglas

COVID support grant is available

Hands up who’s heard of the Small Business Hardship Grant program? No one? Well, that’s not surprising as the State Government doesn’t seem to be making a heap of noise about it. But it’s a really big deal. Here’s why. The WA Government is providing grants of between $3,750 and $50,000 for businesses impacted by […]

Get attached to your super

The super guarantee system, where employers now contribute 10% of wages to super for their employees has been largely successful in providing better retirement incomes for working Australians since its 1992 introduction. It’s also had its fair share of problems, one of those being that employees end up with multiple super accounts (there’s currently around […]

ATO reminder about deductibility of donations

“We make a living by what we get. We make a life by what we give.” Wise and inspirational words from Winston Churchill. Around four million taxpayers each year make almost $4 billion of tax-deductible donations to various charities around the country. West Australians top the list for the average amount of donation per person. […]

The importance of online

The recent lockdown was another timely reminder for WA businesses that we live in a very uncertain business environment. With the full lockdown only lasting three days it seems that we once again dodged a bullet. But our luck might run out, and if it’s not because of COVID, it will because of the next […]

GST turns twenty

GST recently reached the ripe old age of twenty. Hip-hip hooray. I remember its birth well. First of July 2000. Actually, the recent COVID-19 stimulus measures reminded me of the introduction of GST, albeit that GST was implemented in a more controlled and measured fashion. As accountants we had no experience to draw on, and […]

Think before you access your super

As part of the stimulus package to deal with the economic impacts of COVID-19, the Federal Government created a scheme to access your super early. The scheme allowed people who have suffered financially to access their super in two hits – one of up to $10,000 by 30 June 2020, and another of up to […]

Ready for COVID recovery

A recently released index saw business confidence in April rebound from its record low base in March. Although confidence is still down, the uptick is a sure reflection of the effectiveness of the JobKeeper and other stimulus announcements in giving businesses the best chance of their COVID recovery and ultimate survival. With our current health […]

JobKeeper stimulus is the best yet

During the week the Government announced the JobKeeper stimulus targeted at keeping employers and their employees connected through this current crisis. The intention is that businesses impacted by the Coronavirus will have wage costs subsidised so they can continue to pay their employees, whether they’re currently working or not. Businesses can register their interest with […]

You need a business roadmap

Being in small business is tough. Sometimes it feels like every force is opposing you. High rents, on-line competition, staffing issues, government or council policy, foot traffic, economic conditions and the list goes on. Some of these factors are within your control and some aren’t, and understanding this is critical to your success. You can’t […]

Cash is king

I’ve seen plenty of businesses with cash flow problems. It usually starts with deferred payment of creditors, followed by missed employee super obligations, then late payment of the quarterly BAS. And by the time it gets to this point, it’s difficult to break the cycle. Cash is king. We all know the saying, and it’s […]