Hiring an independent contractor may seem like a simpler method than hiring a full-time or part-time employee for a business. Or is it? This is because there is a general assumption that, if hiring an independent contractor, they will not be responsible for PAYG withholding, superannuation guarantee payments, payroll tax and workers' compensation obligations. [...]
While some people enjoy the thrill of the start-up business or creating their own from scratch, others may decide that buying a business is the right avenue for them. Choosing the right business to buy however is one of the most important decisions you might make in your life. Is it in the industry [...]
While businesses continue to be at the mercy of unstable supply chains to fulfil orders and remain operating at level of liquidity, managing cash flow has never been so important. A financial statements health check Preparing financial statements will give you an objective insight into the health of your business. Identifying if you have [...]
Innovation is one of the pinnacles of good business practice. However, sometimes innovation isn’t a process that can be achieved by one person alone. In business, some of the best ideas and practices that your business might achieve could occur through collaboration. Most businesses will have understood the impact and importance of internal collaboration [...]
New R&D tax incentive changes are likely to boost confidence among businesses to make greater commitments to their innovation activities. The changes include new thresholds and a new way to apply. There are three key areas of change from 1 July: Previously, claimable R&D costs were effectively capped at $100 million. From July 1, [...]