Author Archives: Collins and Co
How to make your marketing emails stand out
Email marketing is becoming an increasingly popular way for businesses to reach their customers. However, this means it’s likely that customers are also getting marketing emails from a range of other companies – it’s therefore crucial that your emails are designed to stand out. Promise value in the subject line The subject line of your […]
What are the different types of cashless payment methods?
In an effort to minimise physical contact during the global pandemic, most businesses are making the switch to cashless payments. While contactless credit cards and mobile wallet applications remain the most common type of cashless payments, many other methods have emerged in recent times. In the event that your business is also looking to make […]
COVID-19 factors to remember when filing your tax return
The end of the financial year has rolled around again, but this time, COVID-19 may affect the way you fill out your tax return. The ATO has released a range of methods to make tax time easier for businesses and individuals experiencing unprecedented circumstances. How JobKeeper will affect tax returns Sole traders receiving JobKeeper payments […]
Do you need to lodge a transfer balance account report?
Self-managed super funds (SMSF) may be required to lodge a transfer balance account (TBA) report by 28 July 2020 in the case of a TBA event. A TBA report will need to be lodged with the ATO in the event that both of the following apply: A TBA event occurred in a member’s SMSF between […]
How to keep employees safe as they return to the workplace
Enforcing health precautions is an essential step to creating a safe workplace and giving your employees peace of mind, especially during the current pandemic. Businesses looking to invite their employees back into the office after the easing of lockdown restrictions should implement safeguards to ensure their workplace is a safe one. Conduct a COVID-19 risk […]
How to recruit the right employee for your business
As unemployment rates rise and more individuals compete for the same job, businesses with open positions may find themselves flooded with job applications and potential candidates. With so many individuals applying for every open position, how can you find the right employee for you? Here are a few tips to help you with your recruitment […]
What to consider before opening another business location
Expanding your business to open in multiple locations can offer more opportunities and profitability. However, managing one location can be challenging enough, so it is crucial to examine and prepare for the implications of opening up a second store. Here are some considerations that business owners need to keep in mind before deciding to open […]
Modified provisions for virtual business meetings you need to be aware of
Businesses moving towards online operations (temporarily or permanently) need to be aware of the Government’s modified provisions concerning virtual meetings and the electronic signing of company documents. These modified provisions in the Corporations Act 2001 (Cth) became active on 5 May 2020 and will automatically be repealed on 5 September 2020. Company meetings The new […]
Carrying on a business in an SMSF
Self-managed super funds can carry on a business providing the business is allowed under the trust deed and operated for the sole purpose of providing retirement benefits for fund members. Carrying on a business through an SMSF does have restrictions that other businesses do not have, such as entering into credit arrangements or having overdrafts. […]
Cars and taxes for 2020-21 financial year
New car threshold amounts will be implemented from 1 July 2020. Understanding the new thresholds and how they may affect your small business operations and vehicle usage will be important in preparing you for the financial year ahead. Income tax: There is an upper limit on the cost you use to work out the depreciation […]