PRM Integrated Accounting Group in Leederville, Western Australia, Australia | Tax preparation service

PRM Integrated Accounting Group

Locality: Leederville, Western Australia, Australia

Phone: +61 8 6363 7888

Address: 7/643 Newcastle Street 6007 Leederville, WA, Australia

Website: http://www.intacc.com.au

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25.01.2022 Data matching is something the ATO has down to a fine art these days, so it's not surprising they would apply it to any of the government supports that have been put in place.

24.01.2022 Future Proof Your Business - Tip #2 Optimise Your Cash Flow With reduced sales, your cash flow decreases accordingly. To breathe life back into your cash flow you can focus on collecting all outstanding debts, reducing standing stock, and replacing slow moving stock with stock that sells faster. You can also sell some of your assets to improve your cash flow and promote products with a high profit margin.

24.01.2022 The Government announced on 21 July 2020 that due to the ongoing COVID-19 crisis, the JobKeeper Payment scheme will be extended by six months until 28 March 2021, from the original end date of 27 September 2020. The existing JobKeeper Payment will remain in place until 27 September 2020. The rules for accessing the payment under existing eligibility requirements remain unchanged for periods up until 27 September 2020. To be eligible for JobKeeper Payments under the extension,... businesses and not-for-profits will still need to demonstrate that they have experienced a decline in turnover of: 50 per cent for those with an aggregated turnover of more than $1 billion; 30 per cent for those with an aggregated turnover of $1 billion or less; or 15 per cent for Australian Charities and Not for profits Commission-registered charities (excluding schools and universities). Summary of changes from 28 September 2020 1 a two-tier payment rate will apply based on eligible employees or business participants average weekly work hours in February 2020. 2 the current $1,500 per fortnight payment rate will be reduced on 28 September 2020 (phase 1) to a maximum of $1,200 and reduced further on 4 January 2021 (phase 2) to a maximum of $1000. 3 the decline in turnover will be retested on a quarterly basis. 4 the decline in turnover test will be based on "actual" GST turnover as disclosed on the business activity statements. 5 ATO will continue to pay in arrears. 6 The requirement for employers to pay employees before receiving JobKeeper payments will continue. 7 New recipients can apply for JobKeeper at any time, but existing eligibility rules apply (e.g. the business was in existence on 1 March 2020 and there was at least one eligible employee on this date).

23.01.2022 Congratulations to PRM Director Alan Pecotic on being re-elected last night as the President of the WA Divisional Advisory Committee of Institute of Public Accountants. Alans commitment to improving his industry and supporting his peers is just one of the reasons for his nomination as Member of the Year as well and we hope everyone will join us in congratulating him on this most recent achievement.

23.01.2022 Looking to hire new team members? Have you considered partnering with one of the amazing organisations we have here in Perth who help those with a disability to secure employment? People with disability build strong connections with customers. They boost staff morale and loyalty by helping to create a diverse workforce. Teamwork is enhanced. Real cost savings are realised through less turnover, recruitment and retraining costs. Hiring people with a disability adds to the orga...nisation’s overall diversity. It builds the company’s image among its staff, community and customers. Here are a few contacts for you if you'd like more information. APM, Chorus, Activ Foundation and VisAbility #inclusion #visability #diversity #equalopportunity

23.01.2022 Has your business changed in the last year? Have you gone from being a sole trader to employing staff? Maybe the impact of recent challenges has seen you downsize? There are so many changes that can happen in 12 months and these may mean you dont have the most tax effective business structure. PRM Integrated Accounting Group can ensure you have the best possible structure for your business and help educate you on what these changes mean for your tax and reporting obligatio...ns. m.me/PRMintacc 08 6363 788 [email protected] #accountant #business #smallbusiness #perthaccountants

23.01.2022 The ATO has clarified an important point in relation to the tax treatment of the JobKeeper payments. They confirmed that although the JobKeeper payments are ordinary income, the payments are not derived in the ordinary course of business, and therefore not included in aggregated annual turnover. This means that a number of businesses could now be eligible for a range of tax concessions where their aggregated turnover has dropped below $10m. Make sure you speak to your accountant about any concessions you may be entitled to.

22.01.2022 Ever wanted to experience a Croatian Christmas celebration? Western Knights Soccer Club is supporting this fantastic family event! Filled with music, food and culture, we know Alan and his growing family will be there with bells on!

21.01.2022 The experienced professionals at PRM Integrated Accounting Group can help you, and your business, maximise profits and minimise tax liabilities, ensuring you pay no more than is absolutely essential. Our expertise can help you to achieve the following: - Pay less tax or obtain a larger refund.... - Create wealth by accumulating capital. - Create a plan that will allow you to retire with financial security. - Optimise your businesses performance. The accumulated experience and depth of industry understanding of our firm in business and personal wealth creation offers our clients peace of mind, knowing youll be working with a team of professionals whose number one priority is achieving the best possible financial outcome for you. m.me/PRMIntacc | 08 6363 7888

21.01.2022 At PRM Integrated Accounting Group we help people take control of their finances because we understand that knowing where you are at financially is incredibly empowering. We are able to provide expert advice on how to effectively manage your tax obligations, structure your business and/or personal finances and plan for healthier tax returns! When you work with us, youre benefiting from decades of real world experience from a business that understands the unique needs of ind...ividuals and small businesses. . . . #accounting #business #supportsmallbusiness #smallbusiness #tax See more

20.01.2022 Cockburn Cobras are looking for players 16-20 years old. If you're looking for a great footy club with a great community, look no further!

20.01.2022 Right now business owners are very focused on doing whatever they can to reduce costs whilst still delivering their goods/services and keeping their clients and customers happy and buying. Keep in mind any cost cuts need to be considered carefully for both their immediate and long term impacts, as well as whether they are saving the business money or harming things such as reliability, service delivery or reputation and awareness. CAPITAL STRUCTURE... Review working capital requirements to reduce stock holding and outstanding debtors. Focus on those areas that can create major benefits through strong enforcement of credit conditions, raw material purchases at the start of the month and more efficient production planning to reduce finished goods stock holding. Dont forget to review finances as financiers grow their margins. Look at early settlement discounts as they may be cheaper. STAFF (careful with this one!) Cost reviews will help identify areas of business that are either overstaffed, or where business processes can be streamlined. However, decisions to restructure staffing arrangements are never easy and business owners and managers need to carefully consider if restructures are short-term or long-term focussed, and whether other options exist. Look at what staff deliver and support those who are essential to the long term strategy and growth of the business. MARKETING Managers often take the soft target of cutting costs in sales and marketing. But such decisions have the potential to limit the organisations future growth prospects and market share growth. Sharp cuts in this area can limit the ability of the organisation to attract and retain new customers and raise its profile and brand awareness in the marketplace. Businesses should always ensure that all advertising and marketing spends are closely aligned with targeted marketing plans, linking back to the organisations overall business strategy. TRAINING & DEVELOPMENT This is another soft target for cost cutting. But any reduction in spend should not impact on efficiency. Alignment of training and business development programs with business strategy is imperative to grow the business in the future. SUPPLIERS As part of the cost review, all current supplier arrangements and service level agreements should be reviewed and compared to other options. Perhaps there are alternative lower cost providers available that have been overlooked in the past due to time constraints. One approach could be to put major supply contracts out to tender. As always, decisions should include a review of qualitative factors in addition to those of cost.

19.01.2022 One of the upsides of using an accounting firm who specialise in managing the unique tax needs of small businesses is that there are no "surprises". We think Sam here might have just got a "surprise" and it currently "surprising" his accountant with a unexpected phone call. Shouldve gone to PRM Sam.

19.01.2022 Have you heard of Trade Credit Insurance? At a time when many businesses are struggling and some are having to make the painful decision to close their doors, small businesses are being hit by debtors who are unable to pay. Trade Credit Insurance can assist in some cases.... "This type of insurance can work in a number of ways. Businesses can buy it to cover one specific debtor, especially if they have a large exposure to them. The policyholder may be able to make a claim if the debtor goes into liquidation and cant pay their debts. Other policies are more general in nature and not limited to specific debtors. Rather, they insure a book of debts and an amount owed. In this instance, policyholders are not typically required to name the specific debtors covered under the policy." Steadfast - Well Covered article - snip.ly/2ac11i As with all insurance products there are certain conditions that must be met in order for the business to claim. These include things like actively managing your debtors, when you need to notify the insurer if a debt remains unpaid and waiting for specific periods of time before placing a claim. Whilst this insurance can be of great help to small business owners, its not a substitute for managing your cash flow and staying on top of your debtors. It is also important to note that insurers will only cover debts over a certain amount (usually over the 3k mark) and will typically only cover around 90% of the debt.** Protect your business and your legacy with quality insurance products and expert advice. . . . **General advice warning. The information provided is of a general nature. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives, and requirements and seek advice before making any decisions.

19.01.2022 Have you heard of the term Lifestyle Creep? Lifestyle Creep basically occurs when an individuals standard of living improves as their discretionary income rises and former luxuries become new necessities. Now thats not to say that, as you financial position improves, you cant live a little better but think about what you really need. Why is this important though?... Well as your financial position improves, rather than spending more, you should be looking at ways to leverage your increased income to secure a more stable and comfortable financial future. That might sound a little boring but given what were going through in the world at the moment, we think there might be quite a few people wishing they had done things a little differently when it comes to their personal finances. So how can you prevent Lifestyle Creep? The easiest way is to budget, which no one really likes to do. But what a budget does is show you what your actual needs are vs what your wants/desires are. Many people find that by using a budget, they can actually enjoy more financial freedom because they have peace of mind that their essentials are covered. Alans Tip - Make sure you budget is not just flexible but also allows you to indulge occasionally and enjoy life. Budgets can be a bit like a diet. The more restrictive it is, the more likely you are to eventually fall off the wagon. #advice #finances #supportsmallbusiness #saving #money

18.01.2022 A Closer Look At Your Long Term Financial Success Whats one of the best things about partnering with PRM Integrated Accounting to help manage your finances? Well its a pretty long list but the absolute best thing is that youre dealing with a firm with generations of experience in business and in financial planning. ... We dont just help you get your tax return in on time, we also help you plan for a better one next year or even look at ways to utilise your current finances more efficiently. We are all about saving you money and helping you secure a better, more stable financial future. PRM | 08 6363 7888 | m.me/PRMintacc #accounting #tax #smallbusiness #supportsmallbusiness

18.01.2022 Did you know that, no matter where you are in Australia, PRM Integrated Accounting Group can help you manage your tax obligations, plan for business growth and tax effectively structure your business? So whether youre a local, enjoying our states South or North or even across the borders, Alan and his team are here to help! PRM | m.me/PRMintacc | 08 6363 7888... #Australia #accountant #supportsmallbusiness #familybusiness

15.01.2022 Whilst JobKeeper as it is now is not a sustainable model long term, could this program be the answer for small businesses who have said they may not survive after JobKeeper ends. The Government is reportedly looking at replacing JobKeeper with a HECS-style loan scheme, once JobKeeper ends on 28 March. According to The Australian, the program would see businesses who have been affected by the pandemic able to borrow money under a HECS-style loan program. This would be paid ba...ck once turnover returned to a predetermined level. Do you think this is a good solution?

14.01.2022 The governments Superannuation Guarantee Amnesty has been a lifeline for a number of businesses who, due to financial challenges, have been unable to meet their obligations. Whilst this support from the government is much needed, those wishing to take part must, by law, apply before 7th September. The ATO will work with you to establish a payment plan that is flexible to help you to continue making payments. These arrangements include:... - flexible payment terms and amounts which we will adjust if your circumstances change - the ability to extend the payment plan to beyond 7 September 2020, the end of the amnesty period. However, only payments made by 7 September 2020 will be deductible.** If, after working with the ATO, you are unable to maintain payments, the law requires them to disqualify you from the amnesty and remove the amnesty benefits. However: - the disqualification will only apply to any unpaid quarters - the ATO will advise you which quarters are unpaid for these quarters they will re-apply the administration component of $20 per employee included in the disqualified quarter - they will also take your circumstances into account when deciding whether a Part 7 penalty should be applied to your disclosure a review of your circumstances may result in the Part 7 penalty being reduced to nil.** The reality is that some aspects of the amnesty may be a bit hard for small business owners to get their head around and thats where PRM Integrated Accounting Group can help. We can not only assist you in applying for the amnesty but also negotiate the payment arrangements and help you set up a system to ensure all payments are made on time. Dont leave this to the last minute. Contact Alan and the team today! [email protected] (08) 6363 7888 #tax #accounting #smallbusiness #ATO #supportsmallbusiness **Source Australian Taxation Office

14.01.2022 Have you received any strange calls recently? Maybe youve been left a voicemail with what sounds like a computer threatening to send you to jail for not paying your taxes or something equally as ridiculous? Whilst you may be able to tell this is a scam, many unsuspecting Australians are taken in by far more sophisticated and elaborate scams every year.... Scammers will often try to impersonate government agencies (like the ATO) in order to gain access to your personal information or to coerce you into paying bogus fines and penalties. With your personal info scammers can set up fake companies, access your bank account, gain access to your email systems and scam your clients and much much more. One of the easiest ways scammers have found to catch people out is by sending SMS messages to them with hyperlinks. These will often be "warnings" from agencies or banks instructing you to click on a link to resolve some issue or error. Do not, under any circumstances, access a link sent to you via text. No bank or government agency would handle a serious issue in this way. Instead contact them and if they did not contact you, report the contact as a scam.

13.01.2022 PRM Integrated Accounting Group pride ourselves on our client focused approach to Tax and Management Accounting. We offer advice and guidance based on what will have the best outcome for you, the client. So rather than using a cookie cutter tax agency or shopping centre kiosk accountant, let us look after your tax and accounting needs and see what a MASSIVE difference having a firm who cares can make. m.me/PRMintacc | 08 6363 7888... #accountant #perthaccountant #supportsmallbusiness #customerservice

12.01.2022 Do you review your expenses on a regular basis? As businesses grow and more money is being spent on the day-to-day running of the business, there may be opportunities for you to save on these expenses. One of the best things to do is to look at your list of suppliers and review what you have spent with each of them and what you expect to spend with them in the next 12months. You can then use this information to approach them and find out if you're getting the best pricing pos...sible. Don't be afraid to ask these questions. If you've been working with a supplier for a while, chances are they will want to keep you and will do whatever they can maintain the relationship.

12.01.2022 Did you know, income earned from providing ride-sourcing services, like UBER and other platforms, is actually assessable and must be included in your tax return? To make sure you are recording and reporting your activities correctly, here are few tips: Report your income including fares, tips or bonuses as business income when doing your tax return.... Only claim deductions for expenses that directly relate to the provision of ride-sourcing services. Keep records of all your expenses and income. Ride-sourcing is also subject to GST, so you must have an ABN and be registered for GST.

09.01.2022 Future Proof Your Business - Tip #1 Review Your Marketing Strategies Have your marketing strategies produced the results you anticipated before things went a little pear shaped this year? How can you update these strategies to move your business forward today? Should you explore social media marketing or sponsored ads? What strategies are your competition using that could leveraged for your company? ... Developing a range of marketing strategies for both good and bad times can help your business weather downturns and hard times with confidence and peace of mind. #businesstips #accounting #supportsmallbusiness #future #innovation

09.01.2022 A warning from the Australian Taxation Office about one of the latest tax scams doing the rounds at the moment. - yhoo.it/2C4jAZ3

09.01.2022 Key Tax Dates - September 21 September Lodge and pay August 2020 monthly business activity statement.... 30 September Lodge PAYG withholding payment summary annual report if prepared by a BAS agent or tax agent. If a payer has only closely held payees and their tax agent helps prepare their report, they may be eligible for a concession to lodge this report by the due date of their tax return. Lodge Annual TFN withholding report 2020 if a trustee of a closely held trust has been required to withhold amounts from payments to beneficiaries.

08.01.2022 Leases are often one of your largest expenses and can quickly become a serious liability if your revenue slumps. So it pays to reassess your leases and opt for short term rather than long term commitments. This way you can move to smaller premises and reduce your fixed costs or even consider co-working spaces if you have a small staff and don’t need retail space.

08.01.2022 If you have any concerns regarding accounting for stimulus payments you have received in your business in the last financial year or this financial year, we can help. With an anticipated increased focus on the recording and reporting of these, its important to get it right the first time. "Martin Olde of Nexia Australia & New Zealand lays out some of the finer details of accounting for the range of stimulus measures impelemented amid the COVID-19 pandemic. http://ow.ly/8A2H50AJFFS" - Institute of Public Accountants

07.01.2022 What's your record keeping like? If it's anything like this chances are that, if you were audited, you'd struggle to find the necessary records in a timely manner, which is one of the requirements when information is requested by the ATO. Records you may need to keep include: BPAY or PayPal records... tax invoices for purchases over $82.50 stocktake records a list of creditors and debtors wages records (including directors' fees) Super guarantee contributions paid to each employee and how they were calculated. Keeping and maintaining these records is easy if you have the right systems in place. Remember that even if you're doing business internationally all your records must be in English, or easily converted into English and they must be stored in a way that prevents them from being altered or damaged.

06.01.2022 WHAT IS RISK MANAGEMENT? Risk management is the identification, evaluation, and prioritisation of risks followed by coordinated and economical application of resources to minimise, monitor, and control the probability or impact of unfortunate events or to maximise the realisation of opportunities. Wow that was a mouthful!... Risk management is important because it allows business owners to plan for or eliminate certain risks in their business or business practices. It also means youre able to insure your business with a lot more confidence as youre able to articulate the risks and liabilities you may need to be insured for. So what kind of risks are we talking about? Here are some examples: STRATEGIC decisions concerning your business objectives. COMPLIANCE the need to comply with laws, regulations, standards and codes of practice. FINANCIAL financial transactions, systems and structure of your business. OPERATIONAL your operational and administrative procedures. ENVIRONMENTAL external events that the business has little control over such unfavourable weather or economic conditions. REPUTATION the character or goodwill of the business. Understanding your risks helps you become a more confident business owner and allows you to better train and educate your team to prevent these risks from becoming very real problems in your business.

06.01.2022 In business, its quite often not what you know but who you know that can make a difference. We work with business owners from a wide range of industries and have insights into them you may not find anywhere else. It also means we are connected with people who can help support our clients in many aspects of business, that compliment what we do for them. When youre working with us, youre part of our network and we want you to succeed and that means connecting you with the r...ight people that you can trust! Effective, Practical, Expert Advice | m.me/PRMIntacc

06.01.2022 Many people are using the recent shake up weve had to go out on their own and start their own business, but its important to realise that not everyone is cut out to be a business owner and not every business idea is going to work. So heres some tips on what you should be considering before you make the leap. These are especially important if you are currently in a secure job and are the sole earner in your household. ASK THE TOUGH QUESTIONS... Would you buy your product/service? Will you make a profit at the price? Are you solving a problem? What makes you different from competition? JOT DOWN THE GAME PLAN Do you have enough funds for first year living expenses? Grants/ Loans/Financing? Do you have a clever Business Name? Register the domain name/email address. Figure out type of business: incorporation or sole proprietorship? What permits/licenses are required? MARKETING & PROMOTION Register all social media profiles (ASAP) Determine location (if needed) Networking is key so order those Business cards ADMINISTRATIVE Open a business bank account Set up an accounting system or hire a bookkeeper Delegate work with co-founders. Put everything in WRITING, at all times.

06.01.2022 Still not started on your tax returns? Our focus is on you and your specific and unique circumstances. Our solutions and advice will always be what works best for you and helps you achieve your financial goals. So if youre looking for an accountant thats going to being thinking about more than just your tax return, then PRM is the right firm for you!... PRM Integrated Accounting Group | Effective, Practical, Expert Advice | 08 6363 7888

05.01.2022 Do you know a local business that could use some help? At PRM we value supporting small businesses because, well, we are one! We also work with some amazing small business owners as well and we love being able to connect people with the right person for the right solution. So if you know a local business, have a favourite restaurant/cafe or maybe youre a business owner yourself, lets all support each other and let our networks know youre out there!... . . . #supportsmallbusiness #allinthistogether #tax #accounting #business See more

05.01.2022 Promoters of tax avoidance schemes try to take advantage of people when times are tough. They might promise you a big refund on your income tax return, or tell you about a trick to access tax offsets or concessions. There are tell-tale signs to look out for to ensure you dont get caught up in an illegal scheme. Be wary of promoters who: - offer zero-risk guarantees for their product... refer you to a particular adviser or expert (they may claim the adviser has specific knowledge about the arrangement and the promised tax benefits) claim to be an industry or topic expert ask you to maintain secrecy to protect the arrangement from rival firms charge a fee or commission based on tax saved discourage you from obtaining independent advice dont have a Product Disclosure Statement or prospectus for their product offer advice about illegal phoenixing or liquidation of key companies. - If you become involved in a tax scheme you may end up having to pay extra tax and penalties. If youre unsure about the tax advice youve received from your advisor or intermediary firm then get a second opinion. Talk to a trusted professional like PRM Integrated Accounting Group! Source - ATO Small Business Newsroom

05.01.2022 Strengthen Your Cash-flow! Right now, every business owner is conscious of cash-flow. With so many things changing on an almost daily basis, we wanted to give you some tips on how to improve cash-flow in your business. Create a cash flow forecast... This is an estimate of the amount of money you expect to flow in and out of your business typically over a financial year period. This will provide a better understanding of where surpluses and shortages might arise and assists with making decisions such as planning new purchases or the timing of new borrowing facilities. Invoice properly and action follow-up The sooner the invoice goes out the sooner you can be paid. Review your payment terms, ensure that you can identify in a timely manner when clients are overdue, and have processes in place to follow up with customers promptly. Various accounting software packages and add-on programs have these capabilities to reduce the burden on business owners and administrative staff. Other suggestions to consider are to invoice progress payments, ensure you have electronic payment options such as BPAY, and offer early payment discounts. Review payment terms with suppliers/creditors There are often opportunities to negotiate better terms with suppliers. Take some time to review current contracts and take advantage of any discounts for prompt payment or extended payment opportunities. It may also be worthwhile to seek competitive suppliers and obtain comparative rates. Maintain a good relationship with your bank Meet with your business banker regularly to discuss your current facilities and position to enable a better understanding of the terms of these facilities as well as other available options. For example, there may be better interest rates available, reduced fees, more convenient ways to pay or the availability of credit. There is also the opportunity to put your cash to work and transfer excess funds into high interest savings accounts which can be of benefit for short periods of time and doesnt lock away access to your cash. Keep up-to-date with your tax obligations and liabilities It is important to forecast your tax and superannuation liabilities and ensure all lodgements and payments are made on time. Directors of companies are personally liable for unpaid PAYG Withholding and superannuation payments. Banks are hesitant to lend for any ATO liabilities and will request ATO running account balance accounts when lending. The ATO may negotiate payment plans providing all lodgements are up-to-date, however a general interest charge is imposed. This interest is tax deductible. . . . #accounting #business #supportsmallbusiness #smallbusiness #cashflow #businesstips

04.01.2022 Christmas parties constitute "entertainment benefits" and the expenses may be subject to fringe benefits tax (FBT) unless an exemption (e.g. the "minor benefits" exemption) applies. A minor benefit is one that is provided to an employee or their associate (e.g. spouse) on an infrequent or irregular basis, which is not a reward for services, and at a cost less than $300 (inclusive of GST) per benefit. Entertainment expenses are not tax deductible unless they are subject to FBT. This means that expenses incurred in providing a Christmas party are not generally deductible where the minor benefit FBT exemption applies.

04.01.2022 Probably one of the biggest factors in the success of your business is planning and your tax and accounting shouldnt be any different. At PRM we work with you to put in place a plan that maximises your deductions and minimises the tax you need to pay. We can also help with strategic and succession plans as well as advise on other business related matters. When youre working with us, youre benefiting from decades of real world experience and team that "gets" what it means t...o be a small business owner. So get in touch with us today and get started on a better business future! PRM Integrated Accounting Group "Partners in your financial well being." m.me/PRMIntacc | 08 6363 7888

04.01.2022 Thank you to everyone who has endorsed Alans nomination so far. His hard work and tireless commitment to PRM clients is just one of the reasons we are hoping he takes home this incredible award! Good luck Alan!

04.01.2022 When you engage us as your tax experts, you get access to the decades of knowledge we have in our firm but also to assistance for many aspects of business and planning for your financial success. Our view of it is like this. We want you to be planning for success, not just a healthy tax return, so we work with to plan your activities over the whole financial year to maximise your deductions, minimise your tax and have healthy cash-flow throughout the year. We can help you wit...h budgets, projections, understanding your financial statments and much much more. Our advice will always be based on your unique circumstances and we will only ever steer you in a direction that aligns with your goals. PRM | 08 6363 7888 | m.me/PRMintacc

04.01.2022 Increasing employee engagement can be difficult, but if done correctly it can have immeasurable benefits to employers, employees and the workplace in general. Especially during uncertain or stressful times like we have experienced over the last few months. Workers who are not motivated can convey a bad impression to customers and are consequently more likely to make mistakes. As an employer, it is necessary to ensure that your employees are passionate about their jobs and tha...t they come to work enthusiastic and eager. Employees who are committed generally outperform those who are not. One way to increase employee engagement is by encouraging flexibility for your workers. Employees are no longer spending their careers working at the same company until their retirement, but are instead often having many jobs in their working life. Employees also have greater flexibility in where, when and how they are working. When given flexible working hours or locations rather than rigid structures, people can become more productive, happier and engaged in the workplace. There are many other factors that can impact an employees engagement in the workplace including - Having a good relationship with immediate supervisors - Pride in working for the company - Career development opportunities - Employee recognition - Transparency and honesty - Pay fairness Employee engagement should be a top priority in business and a goal that managers and employers work towards every day. There are five key areas that employers can focus on daily to better morale among workers: - Treat all employees with respect - Give credit when it is due - Communicate clearly, consistently and often - Encourage collaboration - Provide an optimal workplace environment Employees should feel comfortable to express their ideas and feedback regardless of their position or role within the organisation. Managers also need to recognise the important contributions that their employees make and reward those accordingly. Top performers in the business are an invaluable asset to progress so it is important that they are given the appropriate opportunities to excel. Employee engagement is all about knowing what you have and valuing your employees. Businesses have the opportunity to create fulfilling and motivating experiences, allowing workers to bring their best to work each day.

03.01.2022 With personal and business debts on the rise and a number of businesses, both big and small, closing their doors, it is important to understand a few things about bankruptcy. Its not a pleasant topic and its one most people avoid but at PRM we believe in educating, informing and arming people with the knowledge they need to make good decisions. So here it goes - Any tax refunds you are entitled to during bankruptcy can be retained by the ATO to pay off any tax debts yo...u may have and any other government administered debts such as child support or family assistance. You still have to lodge a tax return. Any outstanding personal returns and BAS have to be filed. If assets are sold in order to clear debts, you will need to take into account any capital gains or loss as a result of these sales. These must also be included in your annual tax return. If you receive a tax refund after lodging for bankruptcy, it is most likely this will be used to make creditor payments. Dont let things get this bad though. With the right advice and strategy, many circumstances can be recovered from without resorting to bankruptcy. The professionals at PRM Integrated Accounting Group have all the knowledge and more to help rescue you! PRM Integrated Accounting Group | 08 6363 7888 . . . #accounting #business #supportsmallbusiness #smallbusiness #tax

03.01.2022 Your Accountant should be a key team member in the overall strategic plan for your business. And we dont just say that because we are accountants. There are many advantages to utilising the skills, knowledge and experience of expert accountant but the biggest one would have to be support. A number of small business owners dont really have anyone else to turn to when it comes to planning for the success of their business. So they either keep their own council and do what the...y can or they make the smart move and ask their accountant for advice. PRM Integrated Accounting Group are able to draw on decades of real world, practical experience to assist small business owners in planning for success. As partners in your financial well being, we not only look for ways to reduce your tax obligations but also ways to action strategic plans geared towards growing your business sustainably. If youre looking for a firm who measures their success by yours, PRM is the firm for you! Call today and grab a coffee with Alan! - (08) 6363 7888

01.01.2022 We are so proud to have Alan from PRM Integrated Accounting Group nominated for member of the year! Alan leads the team at PRM in providing exceptional customer service and expert advice. His commitment to achieving the best possible outcomes for clients and his "we will find a way" attitude makes all the difference and truly is a priceless asset. So congratulations Alan and best of luck!

01.01.2022 Important update from Institute of Public Accountants "Government extends energy relief measures for small businesses The federal government has outlined new measures as well as extended existing measures alongside the Australian Energy Regulator that require energy companies to extend relief to small businesses struggling through the COVID-19 pandemic. #smallbusiness http://ow.ly/690E50AKPBk"

01.01.2022 When your business is facing challenging times, it may be tempting to delay payments which dont impact the day to day operations, such as PAYG, GST or superannuation obligations. However, even if revenue doesnt improve, the payments still need to be made. Failure to remit PAYG and super to employees may also result in personal liability being imposed on company directors. Make sure youre keeping an eye on cash flow and making allowances for these payments in your budget so... that the money is always there when it comes time to pay. If youre having trouble meeting your obligations, or just want a better picture of where your finances are, you should speak to an accountant who is experienced in helping businesses manage, improve and maintain their finances. #accounting #tax #smallbusiness #supportsmallbusiness #businesstips