What is “Single Touch Payroll”? Single touch payroll (STP) is a reporting change that will soon become compulsory for all with 20 or more employees (regardless of whether they are full time, part-time, or casual). It’s part of an ATO initiative for digital “real-time” reporting in payroll. This initiative will also extend to Superannuation reporting,…
We are excited to present Advivo ICP Pty Ltd, Innovation and Commercialisation Partners Our Innovation and Commercialisation services were developed to firstly, help clients assess the viability of new products and services and secondly to accelerate and guide the commercialisation process of truly innovative and profitable endeavours. The Need for Advivo ICP Pty Ltd No…
The Cash flow implications of jumping on opportunities. Entrepreneurs and small business owners often need to act quickly to jump on an opportunity before they miss it. The danger is that even if the margin and potential profit all make good business sense, without fully understanding the cash impact of taking on the opportunity, you…
Increasing Not For Profits (NFPs) Revenues People often think that Not for Profit Organisations are less concerned with making profits than other organisations because that’s not their primary aim. This isn’t necessarily correct! Why do NFPs need to increase income? A key requirement for NFPs is that any profits are essentially put back into the…
Proposed Changes to The Tax and Superannuation Legislation In 2017, the Government flagged and publicised plenty of changes to the tax and superannuation system, but how many of them have actually been passed by Parliament and made into law? Parliament ended its final sitting week in December 2017 with plenty of outstanding matters for the Government…
Case Study on How Tax is Treated For Insurance Proceeds For Destroyed Assets When an asset is unexpectedly destroyed, business owners usually focus on maximising insurance entitlements under their policy – and the tax treatment of the proceeds are an afterthought. Often, insurance proceeds will result in a damaged item being replaced. Compensation may also…
What’s the Danger of Cyber Threats on Small Business? Cyber-threats can exist under a number of guises. Denial of service attacks overload systems – for example, by flooding a website with more requests than it can handle. This kind of attack was reportedly behind the failure of the Australian Bureau of Statistics’ site during Census…
Cyber Security – Is your business ready for the changes? The Australian parliament has recently passed the Privacy Amendment (Notifiable Data Breaches) Act 2017 (NDB scheme) on 13 Feb 2017. From 22 February 2018, all entities covered by the Australian Privacy Principles (APPs) will have clear obligations to report eligible data breaches. All entities will…
SME’s and The Global Market We have all heard the phrase “Globalisation” which can trigger all sorts of social debate, however, if your business is one that has been established with unique products or services, then consideration of new geographic markets is something that should be seriously considered. Today, like no other, access to other…
Why Should Businesses ‘Socialise’? With only a third of Australian businesses currently adopting a social media presence, many are missing out on business opportunities – including unparalleled market reach – and financial incentives. We may not be marketing specialists, but when it comes to the advantages of social media for business, the numbers speak for…
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