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The entertainment rules can be rather confusing right?  Some things are deductible, some are 50% and some you cant claim at all.  Some you can but then FBT kicks in.  Goodness me! So I thought I would collate some info that might just help make things a little clearer.. Entertainment Expenses and their Income tax and GST Treatment General Rule If you provide entertainment for your team, clients or any other business…  Read more

The collection of paperwork for year end purposes is really important. If the correct paperwork isn’t provided to your accountant, then there is a whole lot of time spent going back and forth trying to get the information they need and in the end it just ends up costing you a whole lot more than it needs to to produce your financial statements and tax returns..  lets face it, it can…  Read more

There are a lot theories around about whether you should be GST registered or not.  My advice, if you don’t have to be, then don’t be.  And you do not need to be unless you have or are going to be turning over $60k in any 12 month period. (BTW It doesn’t necessarily make you more ‘professional’ to be registered.) Being GST registered means a whole lot more compliance for your small…  Read more

There is so much to think about when going into business.    Business plans, budgets, marketing, strategy planning, equipment purchases, patents, business structures, licences, permits, taxes and so much more..  Wow that can be overwhelming! My best advice..  talk to your accountant or trusted business adviser.  Friends and family all mean well and can certainly help, but make sure you get professional advice and understand the consequences of anything you…  Read more

A budget is the measurement of money coming in and going out.  Whether it is your personal funds or business ones, it pays to have a budget. One the biggest pain points when running your own business is managing the money. Where does it all go?  How do I make sure there is enough to cover my business expenses, and my personal ones? Do you know you need two budgets instead of just…  Read more

I came across a social media post today about assessing how far you come in your digital journey with your business.  Very interesting results… and a very useful tool.  Free….  Not much you get for free these days… So, if you want to see how your business stacks up, check out the website Digital Journey and take your free assessment.  You never know what you will learn. Take the Digital Journey Assessment…  Read more