Advivo Business Advisors and Accountants explain the importance of supporting the financial wellness of your employees. Financial wellness is an important part of overall employee wellbeing which consists of physical, mental, and financial wellness. Ensuring and strengthening the financial health of employees is a valuable, and often overlooked, opportunity to nurture employees’ overall wellbeing. With…
All you need to know about STP for your business is explained by Advivo Business Advisors and Accountants. Single Touch Payroll (STP) is a government initiative that allows employers to streamline payroll by sending tax and super information to the Australian Tax Office (ATO) from a third party, your payroll, or accounting software. This…
Advivo Business Advisors and Accountants explain how small businesses can keep their staffing and payroll on track. Managing Human Resources (HR) and payroll is no small task, and while many businesses continue to face an uncertain future, now is a great time to audit what’s working and what needs to be changed when considering…
Advivo Accountants and Advisors explain the benefits of adopting an automated payroll process. Payroll is an essential function of any business. As an employer, it’s your job to make sure your employees are remunerated correctly. Whether it’s a cloud-based solution or manual process, you need a system in place for tracking hours worked and…
The JobKeeper scheme which has been in place since 30 March 2020, ended on 28 March 2021. How does the end of JobKeeper impact my business? On and from 29 March 2021: JobKeeper employee wage subsidies will cease, and qualifying and legacy employers will generally be unable to change their employees’ work hours, usual duties…
Business 360 review thousands of employee entitlements each year, and reveal the most common pay mistakes they typically see. Most employers often don’t realise pay mistakes until it is too late. Underpayment breaches can lead to fines, penalties, large back-pay amounts (up to 6-years) and prosecution underneath the civil or criminal laws. Commonly, we…
Advivo Business Advisors and Accountants outline what you need to know about e-invoicing. Running a business always keeps you on your toes and being paid late is one of the biggest obstacles business owners face. This can make it hard with cash flow, paying your own bills and creates stress in the lives of…
Advivo Partner, Chris Morris, shares insight into managing and reducing your FBT Fringe Benefits Tax (FBT) and managing shareholder and director loans can be a source of pain and frustration for many business owners. Some of the more common situations which tend to trip business owners up are when their company: Pays for personal…
Advivo Business Advisors and Accountants explain when you need to complete a logbook for FBT. Keeping an FBT logbook helps you separate private and business kilometres so you can provide proof of your car expenses to the Australian Tax Office (ATO), so they know which expenses to reimburse. Learning how to keep accurate tax…
Advivo Business Advisors and Accountants share insights into valuing intellectual property to check if your business is on track. When a business is establishing its presence in the marketplace, protecting and managing its intellectual property is critical as it can mean the difference between success or failure. That is why it is important for…
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