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Passion Business Advisors

Phone: +61 2 6080 8100

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22.01.2022 The ATO have released an alert about a new JobKeeper scam. The ATO have received reports of fake emails saying that they are investigating JobKeeper claims. The emails are asking for copies of Medicare card and driver's licence in order to check JobKeeper claims. Please check before disclosing personal information. Further details on the scam are available on the ATO website.... http://ow.ly/y5Ma50BPHLN See more

22.01.2022 If home is your new office, this is a good summary of the essential tech items you need to work efficiently. http://ow.ly/WcEC50BHe1V #workfromanywhere #homeoffice #virtualcfo

21.01.2022 If you are thinking of hiring a new employee, or have hired a new employee since 7 October 2020, you may be eligible for JobMaker payment. This is a new scheme to encourage businesses to employ young job seekers between 16 to 35 years of age. The new scheme is open for registrations from 6 December 2020. Key features of the scheme are as follows:... The scheme runs for 12 months from 7 October 2020. Registrations are through ATO Online Services or through your Registered Tax Agent Eligible employers receive $200 per week for each additional eligible employee aged 16 to 29 years and $100 per week for each additional eligible employee aged 30 to 35 years. To be eligible, the employee must have worked at least 20 hours per week on average over the JobMaker period. The employee must have received JobSeeker Payment, Youth Allowance or Parenting Payment for at least 28 consecutive days out of the 84 days prior to starting employment. The employer must not be receiving JobKeeper payment. The employer must meet eligibility conditions such as being registered for PAYG Withholding, hold a current ABN, be registered for STP (Single Touch Payroll) and be up to date with lodgement obligations. Payment will be made three months in arears and the first payment will be open on 1 February 2021. Your business must be registered to receive the credit. If you are considering hiring a new employee and want to find out if you are eligible, please get in touch. Further information is available on the ATO website. http://ow.ly/SDoK50CRut1 #jobmaker #businesssupport #smallbusiness

17.01.2022 A day without coffee is like....just kidding I have no idea. Happy International Coffee day to all who enjoy your morning cup as much as I do!

17.01.2022 If the word budget scares you, you are not alone. And you might think, why should I work on a budget for the next 12 months when I don’t know what’s going to happen next week?. However, preparing a budget is so much more valuable to you than just numbers in a spreadsheet. Here are 5 reasons why it is so important. http://ow.ly/Q59H50BF142 #cashflow #businessbudget #businessplan #cashflowmanagement

15.01.2022 Having Standard Operating Procedures (SOPs) is more than just creating more documents, its about helping grow your business. It's about getting best practices for your business out of your head and on paper. Here are a few of the benefits: Your team know exactly what's expected of them SOPs help your whole team get on the same page so they know what to do, how to do it and and also why they are doing it Customer service standards are maintained... Gives you the chance to start working ON the business rather than working IN the business Enable you to scale your business and your training Getting things on paper helps you see if your process can be improved or automated This article has some great tips on how to start writing SOPs to improve your business. http://ow.ly/DJql50C8DKX #smallbusiness #efficiency #timemanagement

08.01.2022 You have probably heard the term break-even point at some stage. But what does this actually mean and why is it so important? The lower your breakeven, the lower the risk and the lower the number of sales you need to make to start generating a profit. If you would like to learn more about how to calculate your breakeven, please read below.... http://ow.ly/gmEZ50ClbFj #smallbusiness #virtualcfo #virtualbookkeeper

05.01.2022 Spring is here and the weather is finally warming up. This is a great time to declutter and set your business up for growth. Create some positive changes in your business and get organised for a fresh start. Here are some tips to spring clean your finances. http://ow.ly/9T7650BSQvA... #virtualcfo #efficiency #springcleaning #outsourcedcfo #businessadvisory #businesssupport

03.01.2022 You may have heard the term virtual CFO and wondered if you need one. Have you ever thought to yourself: I think my business is going well but how do I know where I can improve How can I increase sales? How can I improve cash flow... I’d like to hire more staff to expand my business but don’t know if I have enough cash flow to do it How does my business compare to my competitors? If this sounds familiar to you, your business would benefit from an outsourced CFO. If finance is not your core business, why not free up your time so you can focus on what you love to do? The benefit of an outsourced CFO is that you have access to an experienced finance guru and only have to pay for the hours you need them, saving you the expensive overhead of a full time employee. To learn more about what an outsourced CFO can do for your business, read our latest blog post. http://ow.ly/5TKH50CvbYZ #outsourcedcfo #virtualcfo #financialmanagement #businessstrategy #cashflowmanagement

02.01.2022 Could you use some government incentives to grow and train your team? If you need some assistance to help train your employees, you may be eligible for the wage subsidy announced as part of the federal budget. It was easy to miss because it was titled "Boosting Apprenticeship Commencements". Further information is available from the Department of Education, Skills & Employment website http://ow.ly/L5Mo50C3ksD

01.01.2022 Interested in moving Xero? If you are a business in Victoria, there is a new government subsidy of $1,200 that can help with subscription costs. The subsidy is part of the Small Business Digital Adaptation Program designed to help small business with their online journey. If you have been thinking of moving to Xero, now is a great time Key Points of the program:... Available to small businesses located in Victoria that have held an ABN since 13 September 2019 and registered for GST since 13 September 2020 Sales of at least $75,000 Must purchase a digital product available under the program Businesses can receive one purchase rebate of $1,200 to cover 12 months access to a digital product under the program Product must not be currently used by the business or must be an upgrade to an existing product Applications open 1 December 2020 and run to 31 March 2021 or until funds run out. If you would like help moving your business to Xero, please get in touch. Further information on the program is available here: http://ow.ly/skeH50CrIe0 #xero #smallbusiness #virtualcfo