Workers’ compensation is a compulsory statutory form of insurance for all employers in every state and territory in Australia and provides protection to workers if they suffer a work-related injury or disease.
The Australian Government and banking institutions have united to assist small businesses weather economic uncertainty.
Most businesses have one or more bank accounts. These may include a cheque account, high-interest bearing savings account or at call investment account.
Cash may be disbursed in a number of ways and for a number of reasons. For example, a business may pay wages or rent, repay borrowings owing to the bank or purchase non-current assets.
Because cash is the easiest asset to misappropriate, it is vitally important that the owner or owners of the business set up a good system of internal control over cash.
Most employees can choose which super fund their employer superannuation contributions are paid into.
When completing your activity statement we may discover a mistake has been made or a transaction was left out on a previous activity statement.
When starting a new business, you have the option to register for GST. Registering for GST is a separate registration process to creating your Company, Trust or Partnership.
Have you ever wondered what needs to be included in a Tax Invoice? The ATO provides some very clear guidelines on what needs to be included – especially if you are invoicing from an entity that is registered for GST.
The Insurance Council of Australia estimates that 70 percent of underinsured and uninsured small businesses affected by a major event such as a legal claim, earthquake, fire or storm never recover.
