You ABN and Trading Online Whether you plan to run a conventional business or expect to trade in a strict online capacity, you require anABN if you use any operational identity outside of your own name. Primarily, it is vitally important that your shop-front is professional in every conceivable way and an ABN shows your […]

Do I need an ABN to Open an Online Store? If you plan to sell your latest must-have products on an online store, you will need an ABN (Australian Business Number) to get the most of your new venture. Prior to the advent of the Internet, most businesses built their start-ups on professional experience such […]

5 tips to manage your debtors (Accounts Receivable) We all know how important cash flow is for the survival of our business, but do we take care of the basics to ensure cash is in our hands as quickly as possible after making a sale? When we start to think about how cash flows through […]

ASIC ASIC has warned the real estate industry that agents recommending investors use a Self Managed Superannuation Fund to invest in property may inadvertently be providing financial product advice and as such need to ensure they are appropriately licensed (under Australian Financial Services) to provide the advice.   Interested in joining our team? Why not […]

Exchange Rates October 2013 Foreign exchange rates have been released. Rates for selected countries include –       Europe                         0.7283 –       Hong Kong                   7.5967 –       Japan                           96.7009 –       New Zealand                 1.1700 –       United Kingdom            0.6116 –       USA                             0.9816   Interested in joining our team? Why not apply today?  About Our  Traineeships:- Join […]

Centrelink Clients Some Centrelink Clients must lodge by 30 June 2014 if –       You intend to lodge a lump sum family tax benefit, child care benefit or Single income Family supplement claim for 2012-2013 financial year –       If you received or expect to receive family tax benefit, child care benefit and or Single Income Family […]

Top five perks of being an entrepreneur –          Mates rates. Entrepreneurs usually have mates in business that are willing to offer discounts –          Invitations. Everyone wants you to attend networking drinks, black-tie events and business dinners. –          Free advice. Most entrepreneurs can pick up the phone and call someone for some game-changing business advice. –          […]

How to stay awake in meetings Here are some tips to keep your employees drowsiness at bay during staff meetings: –          Work your crowd –           Switch coffee urns for water jugs –          Stimulate your nostrils –          Bend and stretch regularly –          No death by slide shows –          Ensure that the temperature of the room is […]

Rental properties Rental Property Income –          Rent received –          Other income produced by the rental property. Eg Water usage reimbursements   Deductions –          Advertising for tenants –          Bank charges –          Council Rates –          Body corporate fees and charges –          Cleaning –          Council rates –          Electricity and gas –          Gardening and lawn mowing –          Insurance o    […]

Tax paid on difference of assessable income and allowable deductions We pay tax on the difference of our assessable income and allowable deductions, but what is included in these?   Assessable income includes wages, allowances, some government allowances and pensions, superannuation income, interest, dividends, rent, managed fund distributions, capital gains and business income.    Allowable […]

Allowable deductions for a rental property Here is a list of expenses that are allowable deductions for a rental property.   These include: Advertising for tenants, bank charges, council rates, gardening and lawn mowing, insurances, interest on loans, pest control, property agents fee and commissions, repairs and maintenance and water rates.   Some not so […]

Can you trust online financial product information? As more and more consumers turn to the internet for this information they may not be aware of the limitations of these websites, said Katherine Lane, principal solicitor at the Consumer Credit Legal Centre NSW. Late last year, the Australian Securities and Investments Commission issued a warning about […]

Xero’s growth in Share Price Have you ever heard of a man named Craig Winkler? Be prepared to hear a lot more about him dubbed the next Steve Jobs, Craig Winkler owns a 16.4% share in “Xero” a cloud based accounting software program (which admittedly we use here at Bottrell Business Consultants) which on the […]

Uniform Claims If you are required to wear a labelled uniform, you are able to claim the cost of washing that uniform over the period of the financial year.   If the uniform isn’t compulsory but is a business norm, you are unable to claim the cost of the washing your clothes.   Interested in […]