How to Rescue Business from the Brink of Bankruptcy
There’s a certain thrill that pulses through your veins when you see your business revenue climbing. It’s like watching a garden you’ve nurtured bloom, each new sale a petal unfurling towards the sun. But as any seasoned gardener knows, a thriving garden demands more than just growth—it requires careful management, pruning, and sometimes, the hard […]
Modern Methods Used by Criminals to Avoid Taxes
Picture this: You’ve just wrapped up a purchase, and as the cashier hands you the receipt, everything seems in order. But what if I told you that behind the scenes, some shrewd operators are playing a high-stakes game of hide and seek with the taxman? It’s a narrative that’s becoming all too familiar in a […]
Business Travel Hacks: Save Big on Your Next Trip with These Deduction Techniques!
Greetings from the vibrant heart of Bangkok! As I pen this, the city’s skyline stretches out before me, a testament to the bustling activity and endless possibilities that travel brings into our professional lives. I’m currently settled into the comfort of the Conrad Hotel, a temporary home base for an exciting four-day online business conference […]
Why you should reset your financial goals and targets regularly
In the ever-changing landscape of business, it is crucial to adapt and stay ahead. If you’ve experienced a significant shift, whether internally or externally, taking a moment to review your financial goals is a smart practice. Merely revisiting your goals on an annual basis leaves you financially vulnerable. By being proactive and agile, you can […]
3 Critical Issues Specific to Healthcare Businesses
Are you a healthcare professional who feels anxious at the mere mention of financial management and tax obligations? If the thought of juggling the numbers and regulations while providing top-notch patient care makes your heart race, you’re not alone. But fear not—this post is all about turning that anxiety into mastery. Over the years, we’ve […]
How a Tiny Tokyo Restaurant Turned 7 seats into $800K – An Accountant’s Insight
Imagine a bustling Tokyo neighbourhood where the glow of neon signs and the aroma of exquisite cuisine fill the air. Nestled in the heart of this vibrant cityscape is a culinary gem redefining success on its terms. It’s my pleasure to take you behind the scenes of a remarkable little restaurant making a big impact. […]
Shocking $40M GST Fraud Exposed: How One Business Scammed the System
Introduction GST fraud has become a heated topic of discussion within the accounting community. Recently, I stumbled upon an intriguing story that shed light on a rather simple yet cunning scheme. This particular business was involved in the purchase of gold bullion, which they would then scrap and sell. However, a twist to their operation […]
What Christmas party expenses can you claim with the ATO?
Introduction: Christmas is here, and what better way to celebrate than with a festive Christmas party? It’s a time to gather with your staff, associates, and clients, reflecting on another successful year in your business. However, while you’re busy reveling in the holiday spirit, there’s someone else who’s equally excited about this time of year—the […]
How to issue equity in your business to partners or key staff
As a business owner, the thought of issuing equity to key staff members or a new business partner as part of your growth or succession strategy has likely crossed your mind. It’s a significant step that can ensure the longevity of your company while also rewarding those who have contributed to its success. Just this […]
Understanding the Difference Between GST Errors and GST Fraud: A Comprehensive Guide
Introduction The world of Goods and Services Tax (GST) can be confusing, can’t it? You might feel a bit nervous whenever you have to file your Business Activity Statements (BAS). Trust us; you’re not alone in this. There are countless small and medium-sized business owners like you who are unsure about the differences between GST […]