When commercialising a new product or innovation, making assumptions can be one of the riskiest mistakes. Too often, we hear inventors say, “I know what the market wants,” without conducting proper product-market fit research. While they may be right in some cases, assuming rather than validating can lead to costly missteps. Why Validating Assumptions Matters …
Making Your Life Easier with STP Everyone should be aware of the changes regarding Single Touch Payroll (STP) and the reporting requirements that come with it. For those that need a refresher, we have put together a quick recap. STP Reporting Start Dates If you are an employer with 20 or more employees, you will…
New QBCC Reporting Laws and How Businesses Should Comply In an attempt to prevent insolvencies and corporate collapses in the Queensland building and construction industry, the Queensland Building Construction Commission (QBCC) have implemented new reporting laws. The new regulations for Minimum Financial Requirements (MFR) commenced on the 1st of January 2019 and will coincide with…
What is Fringe Benefits Tax or FBT? A fringe benefit is a benefit provided in respect of employment, essentially a benefit provided to an employee (or their associate) because they are an employee. An example of a fringe benefit being provided to an employee may be one of the following: Allowing your employees to use…
Easily Track Your Transactions and Business Records With ReceiptBank How often have you looked at your business records and struggled to work out what a transaction was for in order to correctly allocate it or answer the inevitable question from the accountant? You can’t remember what it was for, because it was a long time…
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