Seeton Consulting in South Perth, Western Australia | Business consultant

Seeton Consulting

Locality: South Perth, Western Australia

Phone: +61 8 9474 5155

Address: G3/9 Bowman Street 6151 South Perth, WA, Australia

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

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07.05.2022 Businesses are increasingly moving online to expand their reach and provide the best possible experience to their customers. Being online, however, means more competition, so business owners must come up with ways to amp up their game to gain a bigger market share. If you own an ecommerce business or are looking to start one, read on to learn about ways to delight your online customers.... https://seeton.com.au/3-ways-to-delight-your-online-custom/

19.04.2022 Sometimes you want to try something new when it comes to networking with other business owners. Here are some unconventional ways for you to grow your network and bring in new leads. 1. Collaborate with others in the industry You know your niche, so you know the questions to ask others when it comes to your industry. Collaborate with people who fit your ideal market.... https://seeton.com.au/6-unconventional-ways-to-market-your/

04.04.2022 If putting together your estate plan isn’t at the top of your priority list, you’re not alone. It’s something that people typically don’t want to dofor a variety of reasons. It’s not fun to think about what happens after we’re gone, and we often believe we have a lot of time to get our affairs in order. No matter how large or small your estate is, you need a plan to ensure your wishes are carried out and your loved ones are taken care of in the way you see fit.... https://seeton.com.au/important-things-to-know-about-an-es/

27.03.2022 With the potential for business life to return to something resembling normal, it’s a good idea to take a look at your budget and see where you may need to shift some of your priorities. Pay attention to how your spending over the past few years affected your business and either helped you achieve, or took you away from, your overall goals.... https://seeton.com.au/4-key-areas-to-evaluate-in-your-busi/

22.03.2022 Treasurer Josh Frydenberg has released the 2022 Federal Budget ahead of a Federal election in a few months. This article has a summary of the Winners and Losers of the Budget and we’ve compiled a recap of the key points below. Get in touch with us if you have any questions. A Quick Overview Due to soaring fuel prices, the fuel excise tax will be cut in half, saving motorists 22 cents per litre.... https://www.seeton.com.au/federal-budget-2022-what-it-mean/

14.03.2022 Steady, reliable cash flow is crucial for the survival of your construction business so taking steps to ensure your customers pay promptly is a key priority. Debtor days refers to the length of time it takes clients, on average, to pay you for the work you’ve done. A higher number of debtor days means clients are taking longer to pay you.... https://seeton.com.au/nine-tips-to-reduce-debtor-days-for-/

25.01.2022 A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the love category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to accounting mistakes that derail future growth. [ 403 more words ] https://seeton.com.au/avoid-these-5-costly-accounting-mist/

25.01.2022 100% Cotton Washable Face Mask Reduces exposure to COVID-19* Reduces exposure against ballistic saliva droplets* Reduces contagiousness and spreading ...the virus* Prevents you from touching your face Comfortable cotton masks Washable / Reusable masks HURRY, available while stock last Only $12.99 per mask To purchase visit https://looksmart-online-store.myshopify.com//face-mask-bl *The Centre for Disease Control (U.S) recommends Wearing cloth covering in public settings

25.01.2022 When you’re a small business owner, you get used to people giving you advice. Sometimes you seek out their insights while other times they share whether you want them to or not. While the advice is almost always well-intended, it’s not always good. In fact, sometimes it’s downright awful. Here are some tips that well-meaning people give to small business owners that definitely should not be followed. [ 522 more words ] https://seeton.com.au/the-worst-business-advice-to-follow/

24.01.2022 Good news! This week the government announced that the Instant Asset Write-off has been extended for six months, taking the initiative to 31 December 2020. Australian businesses with less than $500 million annual turnover will be able to take advantage of the write-off and invest in assets to support their business. This government initiative is designed to help the economy reopen and boost economic growth. [ 189 more words ] https://seeton.com.au/instant-asset-write-off-extended/

23.01.2022 The answer to one of the most frequent questions we get asked every year has been summarised by the Australian Taxation Office (ATO) into the 3 Golden Rules for deductible expenses. You must have spent the money yourself , ie, paid for the expense, and weren't reimbursed It must directly relate to earning your income You must have a record... https://seeton.com.au/what-tax-deductions-can-i-claim/

23.01.2022 Ideally, you and your accountant are more than just adviser and client. With your combined skills, expertise, and a shared mission to support a thriving business, youre more like strategic partners. The key to achieving success in any partnership is, of course, strong communication. At your next meeting, be sure to ask your accountant these four important questions. 1. Whats my best strategy for increasing revenue? [ 524 more words ] https://www.seeton.com.au/4-questions-you-should-ask-your-/

23.01.2022 The JobKeeper Payments Amendment Bill was introduced in the House of Representatives on Wednesday 26th August. We appreciate your patience as we process these changes This Bill introduces the extension of the JobKeeper scheme that was announced last month. The proposed rate changes will see the current $1500 per fortnight payment drop to $1200 for full time workers. and $750 for those working less than 20 hours per week from September 28, [ 396 more words ] https://seeton.com.au/jobkeeper-extension-bill/

21.01.2022 Keeping track of sales, earnings, expenses, and purchases is fundamental to the overall health and sustainability of your business. Effective bookkeeping produces the data you need to evaluate your current practices, anticipate challenges, and set attainable future goals. But despite their proven importance, many business owners dread and avoid accounting tasks. In fact, 40% of surveyed entrepreneurs claim that bookkeeping is one the worst parts of running a business! [ 381 more words ] https://seeton.com.au/why-bookkeeping-is-crucial-to-your-s/

21.01.2022 Employees working from home As the situation around COVID-19 continues to develop, you may be working from home and incur expenses that you can claim at tax time. To claim a deduction for working from home, all of the following must apply: -You must have spent the money. -The expense must be directly related to earning your income. -You must have a record to prove it. [ 522 more words ] https://seeton.com.au/tax-implications-of-working-from-home/

21.01.2022 The ATO has advised it will continue to focus on rental deduction claims in tax time 2020. It doubled its in-depth audits last year after findings that nine out of 10 claims contained an error. The ATO has recognised that COVID-19, bushfires and floods have placed residential rental property owners in unforeseen circumstances, resulting in reduced rent, deferred payment plans and mortgage repayment deferrals. [ 546 more words ] https://seeton.com.au/tax-time-2020-ato-continued-focus-on/

20.01.2022 Tax implications of Share Investing https://seeton.com.au/tax-implications-of-share-investing/

19.01.2022 Stage 1 of our Business Survival Plan. https://seeton.com.au/stage-1-of-our-business-survival-plan/

19.01.2022 If you have any doubt that word of mouth referrals are important, consider these recent stats: According to Neilson, 92% of shoppers trust recommendations from friends and family more than traditional advertising 20% to 50% of consumer purchases are made because of a word of mouth recommendation 81% of buyers are influenced by their friends social media posts. So how can you encourage positive word of mouth for your small business? [ 449 more words ] https://www.seeton.com.au/encouraging-word-of-mouth/

19.01.2022 They both work with financial data; theyre both essential for managing a successful business. Yet the roles and duties of a bookkeeper and accountant rarely overlap. If youre like many business owners, you may not be exactly sure of the differences between a bookkeeper and accountant - and whether you should hire one, or both. An established, growth-focused company will employee the services of both an accountant and bookkeeper. [ 521 more words ] https://www.seeton.com.au/similarities-and-differences-bet/

18.01.2022 COVID-19 Business Update 12 August 2020 https://seeton.com.au/covid-19-business-update-12-august-2/

18.01.2022 Legislation for Jobkeeper stimulus passed at 10:40pm last night. Waiting for Royal Assent before application process is released.

17.01.2022 Debt can be a crippling problem for small businesses wanting to grow or just break-even during difficult times. By reducing debt youll improve the value of your business, its financial situation, and its ability to continue operating into the future. Assess your debt situation Take a detailed look at all of your debts both current and long term. Evaluate which ones are more urgent and which can be parked until some progress is made. [ 481 more words ] https://www.seeton.com.au/paying-down-debt-2/

16.01.2022 These days your personal data is everywhere, and that information is valuable to marketers, hackers and everyone in between. If you want to prevent the unauthorized use of your personal information, you need to take a proactive approach to protecting yourself and your identity. You can no longer afford to be blasé about your data security - if you are not taking proactive measures to prevent the use of your personal information, you are opening yourself up to all kinds of problems. [ 460 more words ] https://www.seeton.com.au/protect-yourself-and-your-data-p/

15.01.2022 Now is the perfect time to evaluate your financial position and come up with innovative ways to add revenue streams and generate cash. Here are five ways you might consider to improve your cash inflow: 1. Evaluate your current company assets. Take a look at your assets, both fixed and human. Could you make slight pivots to create a new form of income? [ 347 more words ] https://seeton.com.au/five-ways-to-bring-in-more-cash-for-/

15.01.2022 During an economic downturn when business is slow, a cashflow boost in the form of debt might be necessary to maintain the smooth running of your business. While there are plenty of lending options to consider including government-backed funding schemes, you shouldnt borrow what you cant pay back. So the question is: How much debt is too much? This timely [ 53 more words ] https://seeton.com.au/how-much-debt-can-your-business-take/

15.01.2022 The ATO has now withdrawn its guidance on timing the lodgement of BAS to access the cash-flow boost #tax #accountants #ausbiz http://ow.ly/QdeH50zm0u6

15.01.2022 Around 900,000 businesses are now on JobKeeper, covering 3.3 million employees. Once this stimulus is turned off at the end of September 2020, a business has to rely solely on its own turnover to meet expenses and provide profits for its owners. Temporary insolvency relief and the resumption of deferred loan repayments will also start to kick in then. Creditors will also seek to recover debts, some of which could have been outstanding prior to March 2020, including the Australian Taxation Office (ATO). [ 345 more words ] https://seeton.com.au/will-your-business-be-viable-after-s/

14.01.2022 The omnibus tax bill passed in October 2020 contained the temporary loss carry-back provisions that will allow Corporate Tax Entities only to carry back tax losses from the 201920, 202021 or 202122 income years to offset against tax paid in a previous income year as far back as the 201819 income year. The tax refund will be limited by requiring that the amount carried back is not more than the earlier taxed profits and that the carry-back does not generate a franking account deficit.... https://seeton.com.au/loss-carry-back-provisions/

14.01.2022 For those after the latest information as at 27th April 2020, on the Job Keeper Scheme, we provide a summary from our reference source CCH : The basic turnover test Employers will be eligible for the subsidy if their turnover for the period has fallen below the thresholds and they meet the other eligibility requirements set out further below. Business type/size [ 3,094 more words ] https://seeton.com.au/job-keeper-faqs-all-in-one/

13.01.2022 Many small business people wonder whether its better for them to buy or lease capital equipment for their businesses. Your options regarding leasing or buying depend upon the nature of your particular business, but there are nevertheless a few guidelines you can follow to help you decide what you should do. If you have the money available, and the item is really necessary to your business, then it will usually benefit you to buy the item outright. [ 788 more words ] https://seeton.com.au/should-you-lease-or-buy-equipment-2/

13.01.2022 Some people have expressed their desire to return their one-time cash grant of $500 as they managed to retain their jobs, or have found new ones.

13.01.2022 Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but theres actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank that you are prepared. [ 429 more words ] https://www.seeton.com.au/how-cash-flow-forecasts-can-help/

12.01.2022 The government announced the JobKeeper payment on Monday 30/3/20 and below is a summary of information available so far: (Note this has NOT passed parliament yet and thus NOT legislated) Background Employers (including sole traders and self-employed) will be able to claim a fortnightly payment of $1,500 per eligible employee Starts from 30/3/20 and continue for a maximum period of 6 months... ATO will only release the first payment in the first week of May and payments will be made monthly in arrears General eligibility If the business has a turnover of less than $1billion and the turnover has fallen by more than 30% (of at least a month relative to the turnover a year earlier) and the business is not subject to Major Bank Levy Eligible employees Currently employed by the eligible employer (including those stood down or rehired) or were employed by the employer at 1/3/20 Include full time, part time, long-term casuals (must be employed on a regular basis for longer than 12 months as at 1/3/20) Are at least 16 years old Must be Australian citizen/permanent resident/protected special category visa holder/non-protected special category visa holder who has been residing continually in Australia for 10 years or more/Special category (subclass444) visa holder Not in receipt of a JobKeeper payment from another employer Obligation Eligible employers must make sure eligible employees will receive at a minimum $1,500 per fortnight, before tax Eligible employers must also notify eligible employees that they are receiving JobKeeper on their behalf (ie eligible employees can only claim JobKeeper from 1 employer) Payment process Employee receives $1500 or more in income per fortnight before tax Employee will continue to receive their regular income according to their prevailing workplace arrangements. JobKeeper payment will assist employer to continue operating by subsidising all or part of the income of their employees Employee ordinarily receives less than $1500 in income per fortnight before tax Employer must pay their employee at a minimum $1500 per fortnight before tax Employee was stood down Employer must pay their employee at a minimum $1500 per fortnight before tax Employee was employed on 1/3/20, subsequently ceased employment with their employer and re-engaged by the same eligible employer Employer must pay their employee at a minimum $1500 per fortnight before tax Call us on 08 94745155 or email us at [email protected] if you require any assistance.

11.01.2022 Cloud computing is quickly moving from an obscure concept to an everyday reality for small businesses all over the world. A 2015 survey of small business owners found that 52% had already adopted some form of cloud-based data storage; however, a general lack of awareness regarding the logistics and advantages of cloud computing has made others a bit more resistant. [ 438 more words ] https://www.seeton.com.au/why-keep-your-data-in-the-cloud/

10.01.2022 Check out our Covid-19 resources to help answer questions you may have on assistance available in this crisis. Use this link for quick access: https://www.seeton.com.au/covid-19-resources/

10.01.2022 For small business owners, the risk of data breaches and fraud is high, so taking all the necessary steps to protect your sensitive data is a must. Unfortunately for many entrepreneurs, the decision to increase their companys data protection comes too late after theyve been victimized by a malicious hacker. The good news is, simple and inexpensive steps can be taken to avoid being hacked. [ 470 more words ] https://www.seeton.com.au/you-should-be-using-two-factor-a/

10.01.2022 Want to avoid paying more than you should come tax time? Or a frantic last minute search for missing financial records? New business owners have a lot on their plate, and can easily lose track of an approaching tax deadline or financial data needed to submit their return. Organization is key when preparing for tax time. As is taking advantage of the many tools and resources out there to support new entrepreneurs. [ 468 more words ] https://www.seeton.com.au/tax-tips-for-new-business-owners/

09.01.2022 There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separatewho wants to manage all those bank accounts?your life will be greatly simplified once you separate your personal and your business finances, especially your expenses. [ 539 more words ] https://www.seeton.com.au/separating-personal-and-business/

09.01.2022 The Australian Government has announced cuts to payments under the JobKeeper and JobSeeker schemes but has extended their life spans. JobKeeper 1.0 will remain till 27 September 2020 and thereafter, JobKeeper 2.0 will continue for a further six months till 28 March 2021. The temporary JobSeeker coronavirus supplement will be extended to 31 December 2020. The changes to JobKeeper are: [ 497 more words ] https://seeton.com.au/job-keeper-v-2-a-brief-summary-of-ch/

08.01.2022 Last week, the ATO published a gazette notice informing that it would now acquire data from Services Australia, formerly the Department of Human Services, to verify individuals eligibility criteria for JobKeeper payments, temporary early access to superannuation and temporary cash-flow boost. Data for 3 million Australians are expected to be used for the data-matching program, running from 19 April to 24 September. [ 405 more words ] https://seeton.com.au/ato-puts-everyone-on-notice-on-covid/

07.01.2022 Everyone likes making money, especially small business owners. Invoicing, however, is typically one of the tasks that small business owners like the least. Chores like creating and sending invoices get set aside for other duties that are seen as more enjoyable or even more urgent. You tell yourself you'll get around to it tomorrow, but tomorrow becomes next week, next week becomes next month, and suddenly you realize your client hasn't paid you in a while and your bank account is lower than expected. [ 417 more words ] https://seeton.com.au/three-ways-to-speed-up-invoicing/

06.01.2022 The Australian Taxation Office (ATO) has released the areas they will be focusing on to ensure that JobKeeper applications are correct. JobKeeper eligibility and payment conditions have now changed. The ATO is continuing to maintain the integrity of the JobKeeper scheme through their compliance activities. Areas that will be monitored include businesses that: did not meet the decline in turnover test [ 135 more words ] https://seeton.com.au/keeping-jobkeeper-fair-extension-foc/

04.01.2022 Dont be left up in the air by traditional IT solutions. Check out the top 9 advantages for small businesses switching to cloud computing. Cloud computing is fast becoming the norm because storing information and using software hosted on the Internet has many advantages. 1. Save money Traditionally, a small business spends money licensing software or buying packages to install or download onto individual computers. [ 618 more words ] https://www.seeton.com.au/9-reasons-to-switch-to-cloud-com/

04.01.2022 SCAM ALERT The Australian Tax Office (ATO) is seeing a growing number of people making large payments for fake tax debts. Dont get caught! These phone calls will tell you that you owe money and need to pay it straight away or youll be arrested. The scammer will try to keep you on the line until you pay, often by unusual methods such as bitcoin, pre-paid credit cards or gift cards. [ 305 more words ] https://seeton.com.au/ato-scam-alerts/

03.01.2022 Weve heard this before: the COVID-19 pandemic is an unprecedented global health and financial crisis that has caught many off guard. While the threats to human life are very real, the damage to the health of businesses is really just starting to show. The seriousness of the disease and the lack of a vaccine (at the time of writing this) have prompted governments around the world to impose strict measures to contain the virus. [ 600 more words ] https://seeton.com.au/battling-through-covid-19-finance-ti/

02.01.2022 Since the government announced the $70-billion JobKeeper program to support businesses and their employees during the COVID-19 pandemic, many small- and medium-sized businesses and non-profit organisations heavily relied on this scheme to stay afloat. According to a recent survey by the Australian Institute of Company Directors on the impact of COVID-19, over 40% of the respondents reported reliance on JobKeeper payments. [ 622 more words ] https://seeton.com.au/will-jobkeeper-end-in-september-for-/

01.01.2022 Many small business owners tend to handle their own accounting and bookkeeping, especially when they’ve just started out. However, keeping track of the tax and finance-side of the business everything from income to expenses to tax compliance can be overwhelming. Mistakes can happen quite easily and can have costly consequences to your business. Below are five of the most common DIY accounting errors that you should avoid.... https://seeton.com.au/accounting-mistakes-that-could-make-/