Business Solutions 4 Small Business in Caboolture, Queensland | Consultation agency

Business Solutions 4 Small Business

Locality: Caboolture, Queensland

Phone: +61 467 648 077

Address: PO Box 1523 4510 Caboolture, QLD, Australia

Website: https://www.bs4sb.com.au/

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25.01.2022 Whats happened? The Australian Taxation Office (ATO) have reported an increase in the number of scammers contacting members of the public pretending to be from the ATO. The scammers are sending pre-recorded messages claiming that you have a debt with the ATO, and if you dont call to arrange payment, a warrant for your arrest will be issued.... The scammers are using technology to manipulate the caller identification so that your phone displays a legitimate ATO phone number (otherwise known as spoofing). Does it affect me? Calls are being received by hundreds of Australian taxpayers. How do I stay safe? Calls from the ATO do not show a number on caller ID (they always appear as a private number) and the ATO dont use pre-recorded messages. If you receive a pre-recorded message claiming to be from the ATO, do not return the call and do not provide any personal details, either hang up or simply delete the voicemail. Remember that a legitimate caller from the ATO will never: threaten you with immediate arrest demand immediate payment, particularly through unusual means such as bitcoin, pre-paid credit cards or gift cards refuse to allow you to speak with a trusted advisor or your regular tax agent keep you on the line until payments is made If you are in doubt about a call claiming to be from the ATO hang up and phone the ATOs official scam line on 1800 008 540 to check if the call was legitimate or to report a scam. More information can also be obtained from the following:- Facebook: www.facebook.com/staysmartonline Email: [email protected] Web: www.staysmartonline.gov.au

25.01.2022 Small-business employers urged to brace for public holiday rush With Good Friday falling on 19 April this year, there are only a few business days between Easter and the Anzac Day public holiday, meaning a potential 10-day break for employees with only a couple of days of annual leave having to be used. Turning minimal annual leave into substantial vacation time is a great way to rest, but employers are well within their rights to insist that employees apply for annual leave ...with plenty of notice as rosters may need rearrangement. Common employer mistakes: Many workers will be entitled to penalty rates over the Easter weekend, and this often causes confusion for small-business owners. Here are five common misconceptions businesses might make about public holidays and running their business: 1. Ill just tell my employees they need to work over Easter. 2. Its easier to offer employees a day off in lieu. 3. I pay employees above Award rates, so Im already covered for penalty rates. 4. If my employees dont work on the public holiday, I dont have to pay them. 5. My employee is on paid leave overlapping Easter, so I can deduct the public holiday days from their annual leave balance. When it comes to work place relations and employee entitlements it is best to ensure you check for the provisions of Awards or agreements which apply to your business and employees, along with contracts of employment for any terms relevant to a public holiday. For a more detailed response to the above 5, can be found at http://www.bs4sb.com.au

24.01.2022 DIGITAL MARKETING SKILLS AND FINANCIAL LITERACY TOP SME WISHLIST. A new study of small business owners in Australia reveals they need digital marketing skills and improved financial literacy to manage and grow their business in FY2020. The YouGov Galaxy research, commissioned by online small business lender Prospa, showed that 75 per cent of small business owners are personally struggling with one or more areas of business management. 1 in three (35 per cent) small business o...Continue reading

24.01.2022 FEELING THE STRESS RISING? Focus on these three things... Stress and burnout are on the rise and are starting to significantly affect what youre doing and how youre doing it....Continue reading

24.01.2022 IS IT INCOME? Do you know which income you need to report in your tax return and how to classify it? Its important to get this right, as you can only claim expenses that are related to earning that income. Income you need to report includes:... all payments received electronically, in cash, or through coupon and voucher payments all business investment income, including interest from all of your business bank accounts assessable government payments such as fuel tax credits Capital gains made by your business. CLASSIFYING YOUR INCOME Certain types of income are reported separately in your personal tax return. Money made through the sharing economy could be business or personal income. For example: ride-sourcing income is always business income a fee for performing gardening services through a peer-to-peer app is likely to be personal income. If your business mainly gets paid for your personal efforts, skills or expertise, you may be earning personal services income (PSI), which is reported in your personal tax return. Remember, registered tax agents can help you with your tax.

23.01.2022 SIMPLE PRODUCTIVITY TIPS FOR BUSY BUSINESS OWNERS Improving your productivity is easy. Add just one of these strategies to your working day and see what a difference it makes to your sense of control (it will go up) and your stress levels (they will go down). Add a new strategy each week or each month, until they become habits. The habits will change how you work and play. Checklists:...Continue reading

21.01.2022 ATO TARGETING FALSE LAUNDRY CLAIMS The ATO will target false clothing and laundry work-related expense claims this Tax Time. In 2018, around six million people claimed work-related clothing and laundry expenses totalling nearly $1.5 billion.... Although many Australians can claim clothing and laundry expenses, its unlikely that half of all taxpayers are required to wear uniforms, protective clothing or occupation-specific clothing to earn their income, according to the ATO. Dont think the ATO wont scrutinize a claim because they dont require receipts. The ATO is also concerned about the number of people claiming deductions for conventional clothing. Their sophisticated data analytics is constantly improving and can identify unusual claims by comparing taxpayer claims to others in similar occupations. Tax payers who cant substantiate their claims should expect to have them refused, and maybe penalised for failing to take reasonable care when submitting their tax return Read more https://www.bs4sb.com.au/articles

21.01.2022 SIMPLE PRODUCTIVITY TIPS FOR BUSY BUSINESS OWNERS Improving your productivity is easy. Add just one of these strategies to your working day and see what a difference it makes to your sense of control (it will go up) and your stress levels (they will go down). Add a new strategy each week or each month, until they become habits. The habits will change how you work and play. Checklists:...Continue reading

21.01.2022 How to avoid fake invoice scams Businesses that manage their accounts payable processes manually are particularly susceptible to scams like these because it becomes almost impossible to physically check the veracity of each invoice as it comes through. Paying duplicate or fake invoices can cost companies significantly so its essential to put a process in place that protects the business against this type of mistake. A fake invoice works because it usually includes all the in...formation the finance team would expect to see, including purchase order numbers, legitimate-looking line items, and reasonable amounts. They are unlikely to raise a red flag on a cursory inspection. However, when those invoices are cross-checked against purchase orders or approved expenditure, it quickly becomes clear that they are fake. Read more https://www.bs4sb.com.au/articles

20.01.2022 WORKER FIRED FOR REFUSING TO USE FINGERPRINT SIGN-IN - WINS APPEAL. Businesses collecting biometric data from their employees are being advised to review their processes after the Fair Work Commission (FWC) ruled in favour of a worker fired for refusing to use a fingerprint scanner. Queensland-based sawmill fired a casual factory hand in February last year after he refused to register his fingerprints for use in a new biometric scanner.... The worker filed for unfair dismissal, claiming the sawmills attendance policy was unlawful because his fingerprints are sensitive information under privacy legislation and his employer could not compel him to provide them. He lost his initial case last November after commissioner found it was reasonably necessary for the business to introduce biometric scanning as it improved safety and payroll integrity. However, the full bench sided with the worker on appeal this week in a ruling expected to throw the viability of finger and retinal scanning technology within the workplace up in the air. To read the full article .. http://www.bs4sb.com.au/articles

19.01.2022 UBER AUSTRALIA FAIR WORK INVESTIGATION FINALISED The Fair Work Ombudsman Sandra Parker has completed the investigation relating to Uber Australia Pty Ltd and its engagement of drivers. The weight of evidence from our investigation establishes that the relationship between Uber Australia and the drivers is not an employment relationship, Ms Parker said. ... As a consequence, the Fair Work Ombudsman has stated that it will not take compliance action in relation to this matter. This investigation related solely to Uber Australia and was not an investigation of the gig economy more generally, Ms Parker added. The Fair Work Ombudsman has vowed to continue assessing allegations of non-compliance on a case-by-case basis against companies in the gig economy. Read more... https://www.bs4sb.com.au/articles

19.01.2022 Whats happened? The Australian Cyber Security Centre is aware of malicious emails that are falsely telling Australians that their account has violated PayPal rules. These phishing emails try to lure people into sharing their personal information which could then be used for identity theft and financial gain by cybercriminals.... The email says their PayPal account will be permanently disabled within 48 hours unless the user logs-in using the link provided within the email to update account details and activate your account. The link sends you to a fake PayPal login portal where your details will be captured by cybercriminals. How do I stay safe? If you receive the email: Do not click on the link Do not enter any information. You should forward the email to [email protected] and can find more information and advice on the Paypal website. As I have said previously, I will continue to post these Cyber Alerts as I become aware of them. Lets continue to look out for each other. Share these threats with friends and family. I believe awareness can reduce the risk of becoming a victim. More information can also be obtained from the following:- Facebook: www.facebook.com/staysmartonline Email: [email protected] Web: www.staysmartonline.gov.au

18.01.2022 Unnecessary and complicated compliance draining small businesses The Council of Small Business Organisations Australia (COSBOA) has launched a campaign called Fair to Small Business, Good for Everyone, which is calling for Governments to employ sensible policies to help small-business people to get back to business. In Australia, more than 2 million small businesses employ over 4.7 million people. Small businesses create jobs, support local sports groups, donate to charities,... give to the diggers, bolster regional economies and take pride of place in our community and in our society. But, COSBOA says that overly complex policies and regulation compliance is still restricting small business, and a one-policy-fits-all model will not work. Peter Strong, CEO, COSBOA, passionately stresses the importance of small businesses to not only the economy, but to the community. Small businesses are actually individuals who are highly active in running their everyday operations and often employ other people. Too often small businesses are treated as though they are a small version of a big businessread more http://bs4sb.com.au/articles

18.01.2022 Five ways your customers can help you get ahead There are infinite factors that contribute to the inevitable success or failure of a business, but the secret to success may be right in front of you and thats your customers. My customer experience secret is a concept I call customer advocacy. This is when customers go beyond brand loyalty, they go out of their way to tell their friends and family about you and basically become your walking, unpaid advertisement. By adop...Continue reading

18.01.2022 WHAT ACCOUNTING METHOD DO I USE TO REPORT MY GST? If you have an aggregated turnover of less than $10 million, or use cash accounting for income tax, you can use one of two methods for accounting your GST. 1. Cash accounting:... GST is reported on the activity statement for the period in which you either: receive payment for your sales make payment on your purchases. It is an easy way of keeping track of your business cash flow and suited to smaller businesses that handle cash transactions for example, hairdressers. 2. Non-cash accounting (accruals): GST is reported on the activity statement for the period in which you either: issue a tax invoice received any payment (for a sale) receive an invoice from your supplier (for a purchase). This method is better suited to businesses that dont get paid straight away and is: a way to track your true financial position what is owed and what you owe helpful if youre dealing with multiple contracts and large amounts of money. Non-cash accounting (accruals) can be more complicated than cash accounting and you may need assistance from your registered tax or BAS agent. If you have questions and seek more information. Send your request via [email protected]

18.01.2022 Five things you need to know about small business STP Single Touch Payroll (STP) legislation has passed, meaning businesses of all sizes are required to submit payroll data every pay run as of July 1 this year. The change will see Australias 782,000 businesses with 19 employees or less required to report via STP-ready software. So what does this mean for small businesses with few employees and no existing software provider? Here are the five fundamentals you need to know to...Continue reading

17.01.2022 Procrastinationand getting past it Its March did that just strike fear into your heart? Yep, depending on what day you read this, its more than 1/6th of the way through the year. Remember those plans you had for new projects, growth, taking Fridays off just to show that you really are in charge of your time? How are you going with those? Smashing it? Really? Dont worry; youre not alone in not having gotten your head completely into your business game as yet. In fact,...Continue reading

16.01.2022 ADAM GOODES LAUNCHES INDIGENOUS INDUSTRIAL AND SAFETY SUPPLY BUSINESS Adam Goodes has added to his company portfolio with the launch of Nogard Australia, an importer of over 3500 industrial and safety products commonly used by Australian industry. With an annual turnover in excess of $12 million dollars, Nogard Australia has quickly become Australias largest Indigenous-owned industrial and safety supply business. It has also been cited as an example of the opportunity being... created by the Commonwealth Indigenous Procurement Policy. Jason Johnson, Director of Nogard Australia, is in awe of Goodess passion for creating opportunities for Indigenous Australians through business. Working closely with Adam to establish Nogard Australia, I was immediately impressed with Adams business intelligence and how he advocates for his convictions. From our very first meeting, Adam was resolute that the primary purpose of Nogard Australia would be to create opportunities for Indigenous Australians within the community, and I look forward to helping him achieve it said Johnson. Goodes plans to govern Nogard Australia with his Indigenous heritage in mind. My heritage has always been an important part of my life. Staying connected with and sharing our culture will not only be our market differentiation but will hopefully inspire and provide opportunities for other Indigenous Australians and their communities, Goodes explained. Products from Nogard Australia are currently available to purchase through ATOM, one of Australias largest industrial and safety product distributors, with additional resellers to join soon. As part of the partnership with ATOM, Nogard Australia have become a principal sponsor of the ATOM Community Engagement Fund (ACE Fund) with 1.5 per cent of Nogard Australias sales to ATOM to be directed into the ACE Fund. In addition to this, ATOM will contribute 1.5 per cent of sales of Nogard Australia products to the ACE Fund. One of the major beneficiaries of the ACE Fund is the GO Foundation, which focuses on Indigenous youth education and mentorship. Founded by Goodes and former teammate Michael OLoughlin, the GO Foundation provides support to Indigenous youth and assists them with their primary, secondary or tertiary studies. The GO Foundation is something that I am very proud of. Its humbling that I am now able to further the foundations reach and enrich more young Indigenous students lives through this new partnership between Nogard Australia and ATOM, Goodes said. Article published by Inside Small Business https://insidesmallbusiness.com.au//adam-goodes-launches-i

16.01.2022 THREE CRITICAL FINANCIAL MEASURES THAT REVEAL THE HEALTH OF YOUR BUSINESS The three critical financial measures business owners can monitor to determine the health of their business liquidity, profitability and operating ratios are often overlooked due to a lack of confidence. Your liquidity, profitability and operating ratios are key indicators of the health of your business now, where it has been, and where it is going....Continue reading

16.01.2022 Stay Smart Online Alert! Whats happened? WhatsApp users are urged to update their WhatsApp app with the latest software update.... The update was released this week to address a security vulnerability that could allow a cybercriminal to remotely install surveillance software on a users device. WhatsApp, owned by Facebook, is a popular messaging app for smartphones. It offers a secure messaging service for one-on-one or small group conversations. As a result, it is a target for scammers trying to hack into users confidential conversations and perform other malicious activities. How to make sure your WhatsApp app is up-to-date? On an iPhone or iOS device: Go to the App Store and search for WhatsApp. Tap UPDATE next to WhatsApp Messenger. On an Android device: Go to Play Store and search for WhatsApp. Tap UPDATE under WhatsApp Messenger. Why are software updates so important? Software and security updates fix vulnerabilities in your apps, devices and operating systems that cybercriminals may use to gain unauthorised access or to perform other malicious activity. Typically attackers exploit vulnerabilities in order to perform other malicious actions, such as stealing or corrupting information, installing malware or stopping the affected system from working correctly. How do I stay Safe? Stay Smart Online recommends, whenever possible, choosing to automatically apply security updates when they become available. Automatic updates minimise the risk of delaying or forgetting to apply an update, and limit the chance that cybercriminals will gain access to your devices and sensitive personal and financial data. More information Facebook: www.facebook.com/staysmartonline Email: [email protected] Web: www.staysmartonline.gov.au

16.01.2022 AUSTRALIAS FIRST CREDIT HEALTH TRACKING APP LAUNCHED An Australia-first app has been developed to give consumers more access than ever before to their personal credit score, enabling them to monitor their credit health in real time, for free, and make proactive decisions that will improve their appeal to lenders. The Credit Health app was created by online comparison site, Credit Card Compare, to help Australians take advantage of the changing way in which credit scores are...Continue reading

16.01.2022 8 TAX DEDUCTIONS THAT ARE OFTEN FORGOTTEN Tax deductions can be a lifesaver for small business owners looking to save money on their tax bill. Every single one can end up saving you serious dollars, and yet there are so many tax deductions that are often overlooked. While you may be aware of common deductions such as vehicle costs and home office expenses, there are so many more tax deductions that you might be eligible for. Here are eight tax deductions that are often forgotten by small business owners. Read more https://www.bs4sb.com.au/articles

15.01.2022 WHAT ACCOUNTING METHOD DO I USE TO REPORT MY GST? If you have an aggregated turnover of less than $10 million, or use cash accounting for income tax, you can use one of two methods for accounting your GST. 1. Cash accounting:... GST is reported on the activity statement for the period in which you either: receive payment for your sales make payment on your purchases. It is an easy way of keeping track of your business cash flow and suited to smaller businesses that handle cash transactions for example, hairdressers. 2. Non-cash accounting (accruals): GST is reported on the activity statement for the period in which you either: issue a tax invoice received any payment (for a sale) receive an invoice from your supplier (for a purchase). This method is better suited to businesses that don't get paid straight away and is: a way to track your true financial position what is owed and what you owe helpful if you're dealing with multiple contracts and large amounts of money. Non-cash accounting (accruals) can be more complicated than cash accounting and you may need assistance from your registered tax or BAS agent. If you have questions and seek more information. Send your request via [email protected]

15.01.2022 How MFDs could be putting SMEs at risk of a security breach: Multifunction devices (MFDs) are a boon for small and medium-sized enterprises (SMEs) who benefit from their small footprint and big capabilities. However, some SMEs could unwittingly be creating a security vulnerability in their business by failing to secure their devices. Businesses are increasingly connecting their MFDs to the internet. This means they have the same connectivity as PCs and laptops; and the same v...ulnerabilities. Yet many SME owners and managers arent aware of the potential threat that could be sitting right out in the open. The connected nature of MFDs means hackers can potentially access the business network by connecting to them. For example, employees may use their smartphone or tablet to connect to the MFD to print documents for a meeting. An attacker can create a malware app that infects the mobile device without the user knowing. That app can then attach itself to a cloud print job, meaning it gets downloaded to the networked MFD. From there, it can infect the entire enterprise network. Its also important to remember that MFDs have a built-in memory, which means they store copies of printed, scanned, and photocopied documents. If someone accesses that memory, they can potentially view all of those documents, some of which may be confidential or commercially sensitive. This is a risk not just because MFDs can be hacked through their internet connectivity but also because many businesses dont know where their MFDs end up when theyve finished with them. If the business donates or recycles its MFDs, or on-sells them, there could be a risk of unauthorised access to the documents in the hard drive. MFDs also present a security risk from unclaimed printouts. Employees often print documents then either forget to retrieve them from the printer (often printing them again, wasting paper) or dont retrieve them until later in the day. While those documents are sitting in the MFDs output tray, theyre vulnerable to being picked up and read or copied by anyone passing by. While this may not seem like a significant risk in some SMEs, in others, the nature of the information theyre working with could make it a real problem. For example, if a client list is printed out and a departing employee picks it up off the printer and takes it to a competitor, it could put the business at risk. There are three ways to combat these risks: To continue reading ... http://www.bs4sb.com.au/articles

15.01.2022 HOW SMALL BUSINESSES CAN STAY UP TO DATE WITH WORKPLACE COMPLIANCE If your small business has employees, then you likely already know how complex the task of complying with workplace laws can be. The employer/employee relationship is highly regulated, and those regulations come from a variety of sources and change frequently. Furthermore, employees are increasingly aware of their rights and are increasingly empowered to enforce them. Workplace compliance has never been more i...mportant. The good news is that getting workplace compliance right is possible. Particularly if the job is divided into three basic steps: training in workplace laws and regulations; developing policies and procedures to routinise compliance; and scheduling regular legal check-ups to ensure that your small business remains up to date with changes as they occur. Its a big challenge, but not impossible. By educating your team and getting the help that you need, you can avoid legal consequences. Read more www.bs4sb.com.au/articles

14.01.2022 ARE YOU A CRYPTO CURRENCY USER? The ATO is currently obtaining data relating to cryptocurrency transactions from cryptocurrency designated service providers (DSPs). The data obtained will be used to identify the buyers and sellers of crypto-assets and quantify the related transactions. The data provided by the DSPs will be matched against ATO records to identify individuals who may not be meeting their registration, reporting, lodgement and/or payment obligations. The ATO a...dvised that it is undertaking a data matching protocol for 2014-2015 to 2019-2020 for cryptocurrency owners and traders. The ATO recently lodged a gazette notice setting out the record keeping requirements for such entities. The Gazette can be viewed at https://www.bs4sb.com.au/articles CRYPTOCURRENCY AT A GLANCE: The term cryptocurrency is generally used to describe a digital asset in which encryption techniques are used to regulate the generation of additional units and verify transactions on a blockchain. Cryptocurrencies can be bought or sold on an exchange platform using conventional money. Some popular digital currencies, like Bitcoin can be bought or sold for cash through special ATMs. Cryptocurrencies operate independently of central banks, central authorities or government. Cryptocurrency exchange platforms are generally not regulated. The innovative and complex nature of cryptocurrencies can lead to a genuine lack of awareness of the tax obligations associated with these activities. Also, the pseudonymous nature of cryptocurrencies may make it attractive to those seeking to avoid their taxation obligations. As interest in cryptocurrency has increased, the ATO has been working with partners to understand the tax implications and to plan an appropriate regulatory response, ensuring its approach is consistent with government policy and aligned to that of its partner agencies. Currently the ATO has limited data on the level of investment, gains, losses, transactions made by Australian taxpayers and other information relating to cryptocurrency as there are limited obligations for taxpayers and third parties to provide this information. The ATO is seeking to obtain data relating to cryptocurrency transactions from cryptocurrency designated service providers (DSPs). The data obtained will be used to identify the buyers and sellers of crypto-assets and quantify the related transactions. The ATO will match the data provided by the DSPs against their ATO records to identify individuals who may not be meeting their registration, reporting, lodgement and/or payment obligations. The ATO protocol has been prepared to meet requirements of the Office of the Australian Information Commissioners Guidelines on Data Matching in Australian Government Administration (2014).

14.01.2022 SMEs NEED TO SHIFT RELIANCE ON LENDING VIA BANK of ATO Last month, the Federal Government released its plan to crack down on small-business tax debts, giving the Australian Taxation Office power to tell credit reporting bureaus about outstanding debts.... Under the new legislation, taxation officers will be able to disclose to credit reporting bureaus when a business has a debt of $100,000 for 90 days or more. While this caused concern for many, some believe that it levels the playing field by creating greater transparency about the financial health of businesses. The ATO has long been seen as the fifth largest SME bank in Australia, with small businesses tax debt often used pragmatically as a form of affordable working capital. In mid-2018, the ATO had a collectable debt of $19 billion, seventy per cent of which belonged to small to medium enterprises. This equals about $13 billion in SME debt to the ATO. Many successful Aussie businesses have managed themselves effectively over the years with ongoing tax debts. A manageable debt arrangement with the ATO is not a negative reflection on the success or growth potential of Australian businesses. Nearly 40 per cent of companies with a Moula business loan are also on some form of payment arrangement with the ATO. Read more www.bs4sb.com.au/articles

14.01.2022 The truth about those 10,000 daily steps If you or your staff are one of the many participants in the 10,000 steps a day workplace pedometer challenge, theres something important you need to know. Taking 10,000 steps a day is an excellent baseline physical activity assisting in the reversal of the sedentary lifestyle health effects we all face but our bodies need more....Continue reading

13.01.2022 TAX TIME WORK OUT WHAT BUSINESS EXPENSES YOU CAN CLAIM You should apply these three golden rules when claiming business expenses to help get it right:- The expense must have been for your business not for private use.... If the expense is for a mix of business and private use, you can only claim the portion that is used for your business. You must have a record to prove it. Tips for claiming business expenses:- When claiming business expenses do not include private expenses such as private rent, fines, travel, food, or renovations of a private residence. For expenses that are a mix of business and private use, claim only the business portion. When upgrading accounting software, check business and private expense codes are correct. When claiming business expenses, ensure it is at the GST exclusive rate if you are registered for GST, not the GST inclusive rate. Make sure you have the right records to prove your business expenses. If you operate your small business as a company or trust, paying private expenses from these accounts may have other tax implications such as fringe benefits tax and shareholder loans. Remember, registered tax agents can help with your tax. Find out more, send enquiry to [email protected]

12.01.2022 ARE YOU USING AN OLDER VERSION OF MICROSOFT WINDOWS? Whats happened? Microsoft has released a software update to fix a security flaw in some older versions of Windows including Windows 7, Windows XP, Windows Server 2008 and 2008 R2. The update addresses a vulnerability that attackers may use to gain unauthorised access or to perform other malicious activity.... Does it affect me? If you are using an older version of Windows including Windows 7, Windows XP, Windows Server 2008 and 2008 R2 you could be affected. If you have Windows 8 or 10, Microsoft advises you are not affected by this vulnerability. To find out which Windows operating system youre using check the Microsoft website. How do I stay safe? To protect yourself you should install the software update to older versions of Windows as soon as possible. Microsoft has issued customer guidance on how to update older Microsoft operating systems. Why is using current software important? Microsoft will not provide official security updates or fixes to Windows 7 after 14 January 2020. To ensure you are using secure software that is supported by Microsoft you should consider upgrading to Windows 8 or 10 in the near future. More information Microsoft issued a blog post about the potential impact to customers using affected platforms including advice on mitigation strategies. Facebook: www.facebook.com/staysmartonline Email: [email protected] Web: www.staysmartonline.gov.au .

11.01.2022 THREE KEY WORKPLACE RELATIONS CHANGES FROM, 1 JULY. SMEs with one of the most complex workplace relations systems in the world It is essential that business owners stay updated and compliant with the changes that came into effect on, 1 July. 1. Minimum wage and award rates increase... Each year, the Fair Work Commission (FWC) reviews the National Minimum Wage and base pay rates under Awards with changes to be implemented on the first full pay period on or after 1 July. While there are different base rates for different job types under Awards, each of these stems from one core minimum wage which all businesses in Australia must abide by. Casual workers are covered by this National Minimum Wage, but they may also receive a 25 per cent casual loading. This year, the minimum wage will increase by 3 per cent, to an hourly rate of $19.49 (or $740.80 per week). In practical terms, this means that employees on the minimum wage will have to receive the increase from the first full pay period starting on or after Monday 1 July 2019. 2. Penalty rates A reduction to public holiday and Sunday penalty rates under some Awards will have taken effect on 1 July. The reduction of public holiday penalty rates applies to the following Awards: Hospitality Industry (General) Award 2010 Restaurant Industry Award 2010 General Retail Industry Award 2010 Fast Food Industry Award 2010 Pharmacy Industry Award 2010. It is so important for small business to be across these changes. Workplace compliance can feel like a minefield and it is essential to get the right advice to avoid paying too little or too much. 3. Cash in hand payments The Australian Taxation Office has declared cash in hand payments will not be tax deductible from 1 July. In addition, the following things will also lose their tax deductibility status: Other employee payments that do not comply with pay as you go (PAYG) withholding obligations. Payments to contractors who have not supplied a valid ABN. Payments to contractors where the business does not withhold any tax. Cash payments arent illegal if declared and reported, however, cash in hand payments are considered illegal where theyre used to hide income. Your accountant or financial adviser will be able to provide more information about these changes. Preparation is the key to successfully handling change. There are several things you can keep in mind to prepare your business for a successful transition:- read more ... http://www.bs4sb.com.au/articles

10.01.2022 Why are some Tradies still losing out on money? Old Habits and Routines mindset, can be one of the most damaging thought processes you can have in your business, this is the way we do things around here, and we have always done it this way. I have worked alongside and spoken to many self-employed tradies and contractors, but they still surprise me with some of the processes they cling too....Continue reading

08.01.2022 People who want to invest in stuff they give a stuff about What is your Ethical Mindset? Personally, Sustainability has always been a silent passion of mine. Whether it has been educating and promoting sustainable business practices, or the utilization of sustainable resources, or re-investment back into our local communities.... Therefore, I am happy to share a recent article I came across. Aussie FinTech launches worlds first sustainable share matching app Goodments, is an investment app known for matching people to shares and funds based on their environmental, social and ethical values. It shows an investments true performance and impact, by giving both financial and sustainability data. We are living in an era of social consciousness and a rapidly growing ethical mindset. It is being driven by a new generation of empowered and engaged young investors. People who are passionate about investing for good. Yes, people who want to invest in stuff we give a stuff about. For the full article. https://www.bs4sb.com.au/articles

07.01.2022 THREE CRITICAL FINANCIAL MEASURES THAT REVEAL THE HEALTH OF YOUR BUSINESS The three critical financial measures business owners can monitor to determine the health of their business liquidity, profitability and operating ratios are often overlooked due to a lack of confidence. Your liquidity, profitability and operating ratios are key indicators of the health of your business now, where it has been, and where it is going....Continue reading

05.01.2022 SMEs NEED TO SHIFT RELIANCE ON LENDING VIA BANK of ATO Last month, the Federal Government released its plan to crack down on small-business tax debts, giving the Australian Taxation Office power to tell credit reporting bureaus about outstanding debts.... Under the new legislation, taxation officers will be able to disclose to credit reporting bureaus when a business has a debt of $100,000 for 90 days or more. While this caused concern for many, some believe that it levels the playing field by creating greater transparency about the financial health of businesses. The ATO has long been seen as the fifth largest SME bank in Australia, with small businesses tax debt often used pragmatically as a form of affordable working capital. In mid-2018, the ATO had a collectable debt of $19 billion, seventy per cent of which belonged to small to medium enterprises. This equals about $13 billion in SME debt to the ATO. Many successful Aussie businesses have managed themselves effectively over the years with ongoing tax debts. A manageable debt arrangement with the ATO is not a negative reflection on the success or growth potential of Australian businesses. Nearly 40 per cent of companies with a Moula business loan are also on some form of payment arrangement with the ATO. Read more www.bs4sb.com.au/articles

05.01.2022 ATTENTION: All Start-up and Small Businesses A SPECIAL ANNIVERSARY CELEBRATION OFFER !!! Join in the Business celebrations. ... Take advantage of our once in a year opportunity. For the next three (3) weeks, We are offering 30 to 50% OFF All subscription services. < Contact Us > at www.bs4sb.com.au or by Facebook : Include the Code word CELEBRATE, and you will be contacted. This offer will expire on Monday 6th May.

03.01.2022 THE SIX MOST DANGEROUS PHRASES USED IN BUSINESS: Sometimes the most simple and mundane phrases reveal more about your company than you think. While the following list might not appear to be overly controversial on first glance, these six phrases may reveal underlying issues within your companys culture if they are used too frequently. But thats the way weve always done it.... Doing something because thats the way its always been done, is not always a good reason to continue to do it that way. Companies that grow and innovate are known for questioning preconceived assumptions and challenging the status quo. Getting stuck with whats comfortable can be highly detrimental, and leaves you in a vulnerable position for competitors to challenge. Thats not my problem, Thats not my job. Companies that thrive encourage a team first approach, where people feel compelled to go outside the traditional scope of their role to achieve an outcome. The its not my problem attitude is often a reflection of a competitive or toxic culture. This might be a bad idea, but For some reason many of us have a tendency to self-deprecate. By making a statement like this before putting your idea forward, you have already diminished your credibility. People will be more likely to think its a bad idea if you have framed it that way. If you have an idea, and you believe in it, act assertively and take ownership for it. That wont work in our industry. Great businesses are able to learn from worlds best practice and translate that into something unique to their company. Your marketing team look to Nike for inspiration whereas customer experience might look to Apple. Yes, you might be operating in an entirely different industry, but there are always principles and learnings that could be applied. The customer is always right. This one can be slightly controversial. While it is important to take on board and listen to feedback from your customers, at the end of the day you cannot implement every bit of feedback and there are sometimes customer service situations where the customer is in fact, wrong. In business you will never be able to please absolutely everyone, and by trying to do so, you may please no one. Everyone else is doing it. The fact that everyone else is doing it should never be a reason to dive head first into something new in business. When Instagram influencers took off every business started investing in an Instagram strategy. While for a lot of businesses this is a wise business decision, Instagram influencers certainly do not work for every kind of company. While it is definitely worthwhile staying abreast of and exploring new trends, dont just jump on the bandwagon. Run every decision through the lens of: Why are we doing this? How will it benefit our business? Article by John Colbert, Director, Corporate Edge. Published in Inside Small Business.

03.01.2022 Alert Priority HIGH: Fake CIA emails requesting Bitcoin payment or arrest. The Australian Cyber Security Centre (ACSC) is aware of malicious emails claiming to be from the Central Intelligence Agency (CIA) being received by Australians.... The emails state that the recipients personal details, addresses, contact information and information relating to their relatives are contained in a case file about the distribution and storage of pornographic electronic materials involving underage children. The emails advise that arrests are scheduled and that a payment of $10,000 USD in bitcoin will prevent further action or contact. How do I stay safe? If you receive one of these scam emails: Do not respond or try to contact the sender. Do not make any payments to the sender. Delete the email. My Business was the recipient of this particular e-mail Scam, not 2 days ago. So, I will continue to post these Cyber Alerts as I become aware of them. Lets look out for each other. Share these threats with others. I believe awareness can reduce the risk of becoming a victim. More information can also be obtained from the following:- Facebook: www.facebook.com/staysmartonline Email: [email protected] Web: www.staysmartonline.gov.au

03.01.2022 SMALL BUSINESS BUDGET WRAP The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell was reported to have said the most significant benefits for small business from this years budget are tax cuts, an increase to the instant asset write-off, increased infrastructure spending and investment in apprenticeships. The Infrastructure spending got the thumbs up from Denita Wawn, CEO of Master Builders Australia, saying Builders will strongly back the additiona...Continue reading

02.01.2022 How to keep your data secure while travelling A timely Reminder over the Easter break. When it comes to work and business travel, its likely that scheduling meetings and getting to the airport on time are at the top of your priority list. But its just as important to secure both your business and your personal data as it is to secure your home while youre away....Continue reading