Our Financial Blog
Explore our posts on everything about accounting in Cairns
Real Time Reporting and Real Time Accounting – What is it and what does it mean for small business?
You might have heard these terms used before and thought what do they mean? If you are a small business owner you might be thinking, what do they mean for my business, is it something that I can access, and can it help my business? Real time accounting can be defined...
Small Business Skills and Training Boost: Empowering Growth
The Australian Taxation Office’s Small Business Skills and Training Boost, launched on March 29, 2022, provides eligible small enterprises with a valuable opportunity for skills enhancement and sustainable growth until June 30, 2024. Businesses with an aggregated turnover of less than $50 million can claim a 20% bonus deduction on top of existing training expenses, encouraging investments in various training programs. The initiative covers a range of training-related expenditures, fostering a culture of continuous improvement. To be eligible, businesses must adhere to specific criteria, and the ATO website provides comprehensive guidance to navigate the claiming process. The Small Business Skills and Training Boost is a transformative initiative empowering small enterprises to invest in their workforce and gain a competitive edge until its conclusion in 2024.
Australian Federal Budget Summary 2022 – 2023
Here’s a quick skim of the 2022-2023 Federal Budget. Released on 29th March 2022, you’ll notice the obvious political spin on the content, given the election is fast approaching. This information is based on Commonwealth of Australia data, further details on the...
Qld Business Basics Grant
Qld Business Basics Grant - Closing Soon Great news for Qld small businesses, The Department of Employment, Small Business and Training (DESBT) has launched round 3 of the Qld Business Basics Grant Program. If you don't already know, here are the key...
Is my Cairns Business in the Right Structure
Is my business in the right structure? What are my options? These are some of the questions I get asked a lot as a business advisor and a Cairns tax accountant. In deciding whether it's best to operate as a sole trader, partnership, trust or company or a combination...
New Requirements for Directors in 2022
With nearly 14,000 businesses operating in the Cairns region, it’s no wonder that accountants have been inundated with calls about the new requirement for directors in 2022. The word has been out for a short while now about the new requirements for all Australian...