Starting and developing a profitable distilling business in Australia presents a unique set of challenges and opportunities. The craft spirits market in Australia has seen significant growth, driven by consumer interest in premium and locally produced spirits. However, navigating...
The craft beer industry in Australia has been flourishing, with an increasing number of consumers showing a preference for locally brewed, unique, and high-quality beers. Developing a profitable brewing business in this vibrant market involves not only a passion for brewing but a...
Improving cash flow is crucial for the sustainability and growth of any alcohol production business. Given the unique challenges and opportunities within this industry, including regulatory compliance, market dynamics, and production cycles, strategic financial management becomes...
As an accountant specialising in the alcohol production industry, I understand the relentless pace and pressures of running a business. However, it's crucial for business owners, especially in high-demand sectors like alcohol production, to take breaks and prioritise well-being. ...
In the world of alcohol production, it's easy to get caught up in the allure of having a trendy and popular brand. However, as an accountant advising alcohol producers in Australia, my focus is often on guiding businesses to prioritise profitability over merely being a 'sexy' nam...
For alcohol producers in Australia, understanding and managing risk is an essential part of running a successful business. As an accountant specialising in the industry, I can provide insights into the types of risks you may face and strategies for managing them effectively. Here...
As an accountant with expertise in the alcohol production industry, I'm well-aware of the importance of effective distribution and sales strategies for the success of your business. Navigating the complexities of distributing and selling alcohol products requires a well-thought-o...
Pricing alcohol products in Australia requires a careful balance of covering costs, achieving desired profit margins, and remaining competitive in the market. As an accountant specialising in cost accounting, I can offer insights into how to approach the pricing of your alcohol p...
As an experienced accountant specialising in the alcohol industry in Australia, I'm often approached by business owners seeking advice on whether certain decisions are good or bad for their business. Decision-making in the alcohol business, like any other, involves weighing vario...
As an accountant with expertise in the alcohol production industry in Australia, I am reaching out to all marginal alcohol producers with a crucial call to action: It's time to start running your business with the rigor and strategic focus of a true business entity. In the compet...
Excise duties are a critical aspect of financial planning and compliance for alcohol producers. As an accountant, I'm here to provide a basic overview of excise duties specifically for alcohol producers, outlining what they are, how they are calculated, and why they are important...
As an accountant with expertise in the alcohol production industry, I recognise the importance of using advanced tools like Fathom for in-depth business analysis. Fathom is a powerful financial analysis and management reporting tool that can be critical for your business, especia...
As an accountant with expertise in the alcohol production industry, I'm reaching out to alcohol producers with a vital call to arms: it's time to take a closer, more analytical look at what is happening in your business. Understanding the inner workings of your business is not ju...
In the dynamic and competitive landscape of the alcohol production industry in Australia, rapid growth can sometimes lead to what are known as 'growing pains.' As an accountant, I’ve seen how expanding too quickly without adequate preparation can strain a business's resources, ...
As an accountant, I understand the importance of accountability in running a successful alcohol production business. Accountability is not just about ensuring financial integrity; it's about maintaining a commitment to your business goals, operational efficiency, regulatory compl...
As a business advisor, I can attest to the critical importance of a well-crafted business plan for alcohol producers. In the competitive and highly regulated alcohol industry, a business plan is not just a document, but a strategic tool that guides decision-making, operations, an...
For alcohol producers in Australia, understanding and managing cash flow is critical to the health and sustainability of their business. As an accountant, I can provide insights into why cash flow is important and how to effectively manage it. This article aims to guide alcohol p...
The adage "build it and they will come" might inspire confidence in business owners contemplating opening a new venue, especially in the context of expanding an existing business. However, in practice, this approach requires careful consideration and strategic planning. As an acc...
Creating a comprehensive business plan is a critical step for alcohol producers in Australia contemplating opening a venue. This document serves as a roadmap, outlining your business concept, strategy, and the financial realities of your venture. As an accountant, I can offer ins...
Gate sales, a common term in the alcohol production industry in Australia, refer to the direct sale of alcoholic products to customers at the premises where they are produced, such as a winery, brewery, or distillery. This sales model offers several benefits but also comes with s...
Setting up a winery is a complex and rewarding venture that involves more than just a passion for winemaking. As an accountant, my perspective on establishing a successful winery business focuses on the financial, regulatory, and strategic aspects that are crucial for long-term ...
Setting up a brewery is an exciting venture but comes with a unique set of challenges and considerations. As an accountant, my perspective focuses on the financial, regulatory, and strategic aspects essential for establishing a successful brewery. This article aims to guide busin...
Setting up a distilling business in Australia is a venture that involves careful planning and consideration. As an accountant, I can provide you with key insights into the financial, regulatory, and strategic aspects that are crucial for establishing a successful distilling busin...
When structuring an alcohol production business in Australia, understanding who owns and controls your business is crucial. This article, crafted from an accountant's perspective, aims to guide you through the various ownership structures commonly used in the alcohol production i...
The Personal Property Securities Register (PPSR) is a crucial tool for alcohol production businesses in Australia, and understanding its relevance can significantly impact the financial security and operational efficiency of such businesses. Here's an overview of what the PPSR is...
Understanding insolvency for distilling business owners in Australia, particularly from an accountant's perspective, involves several key areas. Here's a basic overview tailored for business owners:
1. Definition of Insolvency
- Insolvency occurs when a...
As an accountant advising clients in the distilling and brewing industry, one critical aspect I often discuss is the importance of having a well-thought-out exit strategy. Whether you’re just starting out or have been in the industry for years, understanding your “get out” ...
As an accountant advising profitable distillers who are contemplating growth, it's important to acknowledge that while expansion presents opportunities, it also carries inherent risks. Growth should be approached with caution and strategic planning to avoid potential pitfalls tha...
As an accountant in Australia with expertise in the alcohol production industry, I understand the critical importance of assessing and improving the profitability of your business. Determining if your business is profitable is not just about looking at your sales; it involves a c...
As an accountant in Australia specialising in the alcohol production industry, I understand that determining the cost of selling your product is a critical component of running a profitable business. Cost accounting in the context of alcohol production involves various elements, ...
As an accountant in Australia specialising in the small alcohol production industry, I understand the intricacies involved in marketing, promoting your brand, and the challenges of funding and financing distribution. Here’s an insightful guide for small alcohol producers on how...
As an accountant advising business owners in the alcohol production industry in Australia, I cannot overstate the importance of setting and understanding budgets. Budgets are not just numerical statements; they are essential tools for strategic planning, financial management, and...
As an accountant in Australia advising alcohol producers, I've seen the pivotal role that a well-developed marketing plan plays in the success of a business in this competitive industry. A marketing plan not only drives sales but also builds brand recognition and customer loyalty...
As an accountant working with business owners, I often notice a common challenge: many spend too much time working in their business (handling day-to-day tasks) and not enough time working on their business (focusing on strategic growth and long-term goals). This imbalance can hi...
As a business advisor working with owners in the alcohol production industry, I often discuss the concept of the "three freedoms" in business: financial freedom, time freedom, and mind freedom. These are crucial for not just achieving success in your business endeavors but also f...
As an accountant working closely with clients in the alcohol production industry, I’ve come to appreciate the diverse and often deeply personal reasons why entrepreneurs start their businesses. Understanding and regularly revisiting the ‘why’ behind your business can provid...
As a business advisor to alcohol producers, I can't stress enough the importance of accountability in ensuring the success and sustainability of your business. Accountability is crucial in making sure that you not only set goals but also actively work towards achieving them. Here...
As an accountant specialising in the alcohol production industry, I understand the critical importance of managing cash flow effectively. A robust understanding of cash flow is essential for the financial health of your business. Additionally, utilising advanced tools like Fathom...
As an accountant in Australia with expertise in the alcohol production industry, I recognise the increasing importance of online sales channels for alcohol producers. Selling alcohol online involves several key considerations, including pricing, licensing, and promotion. Here’s...
As an accountant specialising in the alcohol production industry in Australia, I recognise the importance of understanding your consumer, building brand awareness, and developing brand identification. These elements are crucial for any business owner in this sector to successfull...
As an accountant advising business owners in the alcohol production industry, I often emphasise the importance of defining your business clearly and understanding how it can be improved. In a competitive and rapidly evolving industry, a clear understanding of your business identi...
As an accountant specialising in the alcohol production industry, I've seen many businesses face challenges as they grow. Sometimes, the symptoms of "growing pains" can indicate that it might be time to scale back or restructure certain aspects of your business. Here’s an insig...
As an accountant in Australia specialising in the alcohol production industry, I understand that expanding your business comes with both opportunities and risks. Growth can be an exciting phase, but it's essential to approach it with careful planning and awareness of potenti...
As an accountant in Australia with expertise in the alcohol production industry, I understand the critical importance of cash flow planning and management for the success and sustainability of your business. Cash flow management is not merely about tracking how much money is comi...
As an accountant in Australia with expertise in the alcohol production industry, I can affirm that maintaining well-organised and accurate financial records – often referred to colloquially as "singing books" due to their ability to provide clear and harmonious financial insigh...
As an accountant advising new business owners in the distilling industry in Australia, it's crucial to emphasise the importance of running your venture as a structured business rather than as a casual hobby. This shift in mindset is key to achieving long-term success and sustaina...
As an accountant in Australia with a focus on small distillers, I’ve observed that effective brand promotion is essential for growth and success in this competitive industry. Here are some creative and practical ideas for small distillers to promote their brand:
...
As an accountant in Australia with experience in advising small alcohol producers, I understand the complexities surrounding excise duty. It's crucial for any alcohol producer, regardless of size, to comprehend the basics of excise duty, as it significantly impacts the cost of pr...
As a business advisor specialising in the alcohol production industry, I understand the importance of accountability for business owners. Accountability is not just about meeting legal and financial obligations; it's about setting standards, monitoring progress, and being answera...
As an accountant with experience in advising alcohol producers, I understand the critical importance of a well-crafted business plan. A business plan not only guides your business strategy but also is essential for attracting investors and securing financing. Here are some tips f...
As a business advisor specialising in the alcohol production industry in Australia, one of the most crucial steps for any alcohol producer is understanding and defining their market. This process involves identifying who your customers are, understanding their preferences and beh...
As an accountant with experience in the brewing industry in Australia, I understand that managing cash flow effectively is crucial for the viability and success of your brewing business. Breweries, with their unique business models and financial demands, require careful financial...
As an accountant specialising in the alcohol production industry in Australia, I often encounter clients who are unsure whether their venture qualifies as a business or remains a hobby. This distinction is crucial for tax, legal, and financial planning purposes. Here’s how you ...
As an accountant in Australia with expertise in advising small distillers, I understand that maintaining a sharp focus on profitability is essential for the sustainability and growth of your business. In the challenging yet potentially lucrative world of small-scale distilling, h...
As a business advisor specialising in the alcohol production industry in Australia, I understand the importance of budgeting for business success. A well-planned budget is a roadmap for your business, guiding financial decisions and helping maintain control over financial health....
As an accountant working with alcohol producers in Australia, I understand the importance of starting the new year with a strong focus on profitability. The alcohol industry, with its unique challenges and opportunities, requires a strategic approach to ensure sustained financial...
As an accountant with experience advising clients in the distilling industry in Australia, I can offer a comprehensive overview of what you need to know before starting a distilling business. This industry is both challenging and rewarding, with unique complexities. Here’s a de...
As an accountant working with alcohol producers in Australia, I can attest to the critical role that information platforms, such as Xero, play in efficient business management and record-keeping. In an industry that deals with intricate production processes, diverse sales channel...
As an accountant specialising in the alcohol production industry in Australia, I understand the complexities and unique challenges faced by businesses in this sector. Understanding and analysing your business is crucial for strategic decision-making, financial health, and sustai...
As an accountant working with alcohol producers in Australia, I understand the intricacies and challenges involved in undertaking large supply contracts. These contracts can represent significant opportunities for growth and revenue, but they also come with unique risks and compl...
As an accountant advising alcohol producers in Australia, I often emphasise the importance of understanding the role of a lawyer in the context of their business. Legal expertise is not just a safeguard against potential issues; it's a proactive tool for ensuring the smooth opera...
As an accountant working with alcohol producers in Australia, I've seen firsthand the challenges and nuances of managing accounts receivable, especially when it comes to chasing debtors. Efficiently handling this aspect can significantly impact your cash flow and overall financia...
As an accountant specialising in advising alcohol producers, I can't overstate the importance of maintaining accurate and comprehensive records for accounting, tax, and business planning purposes. Good record-keeping is not just a legal requirement; it's a crucial component of su...
As an accountant specialising in business planning for distilleries, I understand that creating a great product is just the beginning. Turning that product into profit requires strategic planning, financial savvy, and a deep understanding of the market. Here’s how you can tran...
As a business advisor specialising in the distillery industry, it's crucial to understand both the opportunities and pitfalls of this unique business. Here are some essential dos and don'ts to help ensure that your distilling business not only thrives but also remains profitable...
Starting a distilling business can be an exciting and rewarding venture, but it also involves significant planning and investment. As a business advisor and accountant, I'd recommend considering the following tips:
1. Understand the Industry
- Market ...
An Accountant’s Perspective on Refining Your Business Strategy
A comprehensive and regularly reviewed business plan is essential for the success of an alcohol production business. As an accountant with expertise in the alcohol production sector, I emphasise the importance...
For distillers operating as a company in Australia, comprehending and effectively managing company tax is crucial for legal compliance and financial health. As an accountant specialised in the distilling industry, I provide insights into how company tax works and its implica...
An Accountant’s Viewpoint on the Value of Professional Advisory Services
In the challenging and competitive landscape of alcohol production, partnering with a commercial advisor can be a strategic move for business growth and sustainability. As an accountant with experien...
Business planning is a critical step for anyone venturing into alcohol production in Australia. As an experienced accountant in this sector, I provide essential insights and guidance on developing a robust business plan that can pave the way for your success. Here’s a breakdown...
In the competitive and nuanced world of alcohol production, having access to sophisticated financial analysis tools like Fathom can be a game-changer. As an accountant advising clients in the alcohol production industry, I highly recommend Fathom reporting for its comprehens...
Employing staff in a new alcohol production business in Australia presents both opportunities and challenges. As an accountant specialising in this sector, I provide business owners with insights into managing staff effectively while ensuring compliance with Australian emplo...
For distillers, managing supply contracts and understanding rebates are crucial components of business operations. As an accountant with specialised knowledge in the distillery industry, I offer guidance on how supply contracts work and the role of rebates in these agreement...
For distillers in Australia, the Personal Property Securities Register (PPSR) is a crucial legal tool that can significantly impact various aspects of your business operations. As an accountant with a thorough understanding of the PPSR, I offer insights into its role and how...
In the complex and dynamic world of alcohol production, having robust and efficient accounting software is essential. Xero, a leading cloud-based accounting solution, offers numerous benefits tailored to the needs of an alcohol production business. As an accountant familiar with ...
For businesses in the alcohol production industry, understanding and capitalising on available tax deductions can significantly impact profitability and financial efficiency. As an accountant with expertise in this sector, I guide alcohol producers through the array of tax deduct...
For business owners in Australia, attending events to promote your brand can be an effective marketing strategy. However, understanding the tax implications of these activities is crucial for ensuring compliance and optimising tax benefits. As an accountant with experience in bus...
In the ever-evolving digital marketplace, selling alcohol online presents a lucrative opportunity for businesses in Australia. However, navigating the licensing requirements and understanding the financial implications are crucial for lawful and profitable operations. As an accou...
For alcohol producers in Australia, understanding and complying with excise duty requirements is a critical aspect of your business operations. As an accountant with expertise in the industry, I assist clients in navigating the complexities of excise duty payments. Here's a compr...
For alcohol producers in Australia, buying equipment from auction sales or liquidators can be an attractive option. These avenues often present opportunities to acquire assets at a reduced cost. However, it’s important to understand the financial and practical considerations in...
For alcohol producers in Australia, understanding the excise rebate system is essential for financial planning and reducing tax burdens. As an accountant specialising in the alcohol production industry, I provide guidance on how the excise rebate works and how you can maximi...
In the dynamic world of alcohol production, owning multiple brands can be a strategic approach to market diversification and business growth. As an accountant with experience in advising alcohol producers, I often guide clients on the financial and strategic implications of manag...
When establishing or restructuring an alcohol production business in Australia, one of the key considerations is how to structure the business for maximum tax efficiency. As an accountant specialising in the alcohol production industry, I advise clients on structuring their busin...
For alcohol producers considering leasing a premises, it’s crucial to understand the financial implications and organisational aspects of such a commitment. As an accountant experienced in the alcohol production industry, I provide guidance to clients on what they need to consi...
For businesses in the alcohol production industry, the decision to buy second-hand equipment can be a strategic move with multiple financial and operational benefits. As an accountant with expertise in advising alcohol producers, I understand the value that second-hand equipment ...
For entrepreneurs in the alcohol production industry, securing the right financing is crucial for starting up, sustaining, or expanding operations. As an accountant with expertise in the financial needs of this industry, I guide business owners through the various financing optio...
In the alcohol production industry, understanding and leveraging available tax deductions can significantly impact your business's financial health. As an accountant experienced in the nuances of tax planning for alcohol producers, I assist clients in identifying and maximis...
In the world of alcohol production, particularly for distillers, it's crucial to understand whether your activities are classified as a hobby or a business. This distinction is not just a matter of terminology; it has significant financial and tax implications. As an accountant s...
For alcohol producers, navigating wholesale sale agreements is a critical component of business operations. These agreements not only determine the distribution and sale of your products but also have significant financial and legal implications. As an accountant with experience ...
For entrepreneurs in the brewing industry, achieving financial viability is key to sustaining and growing their business. As an accountant with expertise in this sector, I support brewery owners in crafting strategies that enhance profitability and ensure long-term success. Here�...
In the world of winemaking, balancing the art of creating exceptional wines with the science of sound financial management is key to the longevity and success of your business. As an accountant specialising in the winemaking industry, I assist vineyard and winery owners in cultiv...
Purchasing a distillation still is a significant investment for anyone entering the distilling industry or looking to expand their operations. As an accountant with experience in advising businesses in this sector, I offer insights into the financial and practical considerations ...
For distillers operating in Australia, adhering to the Australian Taxation Office (ATO) reporting requirements is a crucial aspect of running a compliant and successful business. As an accountant specialising in the distilling industry, I assist distillers in understanding and fu...
For businesses dealing with excisable goods in Australia, understanding the current year's excise thresholds is crucial for compliance and financial planning. As an Australian accountant with expertise in tax and excise laws, I guide clients through the complexities of excise dut...
Effective budget management is a cornerstone of business success. As an accountant, I work closely with business owners to develop and maintain budgets that not only reflect their business goals but also provide a roadmap for financial health and growth. Here’s a guide to setti...
For entrepreneurs in the alcohol production industry in Australia, achieving financial viability is crucial for long-term success. As an accountant specialising in this sector, I offer guidance to business owners on how to navigate the complexities of the industry and establish a...
Entering the distilling industry in Australia presents an exciting opportunity to craft a unique brand identity that resonates with consumers and stands out in the market. As an accountant with a focus on the distilling industry, I provide new distillers with insights on creating...
For distillers in Australia, ensuring that your still is secure and compliant with Australian Taxation Office (ATO) requirements is crucial. This not only involves adhering to excise regulations but also implementing appropriate security measures to safeguard your operations. As ...
Strategic Insights from a Business Advisor on Bulk Procurement
For distilleries in Australia, purchasing alcohol in bulk can be a crucial part of the production process, whether for blending, fortifying, or creating liqueurs. As a business advisor with expertise in the distil...
Launching a new brand in the distilling industry is an exciting venture, but it also requires strategic marketing to stand out in a competitive market. As a business advisor with expertise in the distilling sector, I guide new distillers in creating effective marketing strateg...
Operating a distillation facility in Australia involves not just skill and precision in the art of distilling, but also a high level of security to ensure compliance with regulatory requirements and to protect your assets. As a business advisor specialising in the distillation in...
For businesses looking to operate a still on-premises, understanding and adhering to venue licensing requirements is crucial. Whether you’re running a distillery, a bar, or a restaurant with an in-house distillation setup, navigating these regulations is key to legal operation ...
Integrating a still into your business venue, whether it’s a distillery, a bar, or a restaurant, is more than a functional decision—it's a strategic move that can significantly impact your business's appeal and efficiency. As a business advisor specialising in the hospitality...
Recent reports are flagging that things are getting a lot harder and there is no doubt that there is a rapid rise of insolvencies in the space.
Is it a reality?
Yes, unfortunately the brewing industry is struggling through a perfect storm of higher input costs, higher le...
A Detailed Overview from an Accounting Perspective In Australia, the excise rebate is an important financial consideration for businesses involved in the production of certain goods. It allows eligible businesses to claim a rebate on the excise duty paid on certain products...
For those looking to enter the distilling industry in Australia, obtaining a distilling license is a crucial step. The process involves several stages, each governed by strict regulations to ensure safety and compliance. Here’s an essential guide to understanding and navig...
Search Engine Optimisation (SEO) is a powerful tool that can help increase the likelihood of more people finding out about the existence of your business. SEO can be described as the process of trying to optimise a website or online content such as; a social media account ...
Choosing the correct social media platform to promote your business can make a huge difference in ensuring that your business becomes more successful. There are so many options available and it is important to note that you don’t need to be present on every single platform, yo...
If you want to successfully manage your business you must wear as many hats as possible to make sure that your company is capable of growing and evolving into the business you hope it will become. This means that when you run a business you need to be a jack of all trades in som...
Working on a farm where you have to manage livestock and cattle is an unpredictable job, therefore your taxes are probably the last thing you want to think about at the end of a busy day’s work. Managing your taxes properly is a key ingredient to financial success. It is i...
The majority of businesses will experience times when their finances especially cash flow become a concern. Thankfully there are plenty of early warning signs that appear in plain sight that indicator that your business could be at risk of becoming insolvent in the future. I...
There are plenty of benefits associated with hiring a bookkeeper if you are a business owner who is wanting to ensure that their business becomes more successful and more organised. A bookkeeper is responsible for giving a business owner up to date and accurate financial informa...
Running a rural farming business is a difficult task that experiences a unique number of challenges that are not experienced by businesses located in big cities. According to Craig Dangar from Vault Accountants “Cash flow and debt are the biggest controllable challenges ...
Deciding whether or not you want to buy property or rent is a very difficult decision to make as there a number of different factors that need to be taken into consideration based on your long-term life plans, your working situation and relationship status. Here are a list o...
Despite its unpredictable nature millions of people around the world are continuing to invest in cryptocurrency. Its volatility is one of the elements that attract so many people to the currency as there is the potential to earn huge amounts of money. Cryptocurrencies which a...
Search Engine Optimisation (SEO) can be best described as the process of enhancing the quality and quantity of website traffic to a website or a web page via search engines. SEO aims to target unpaid traffic instead of targeting direct traffic or paid traffic. Here are some tips...
Creating a marketing strategy that captures the attention of and fulfils the desires of your intended target audience has huge potential to enable your business to become more profitable. As technology evolves and consumers habits change what was deemed an effective marketin...
Even some of the most popular and mature businesses who have accumulated success in their home country have the potential to struggle with international expansion. Understanding different cultures, government regulations and market needs are challenging at the best of times....
If you have your passport and your bags packed to go overseas you should always make sure that you are financially prepared to travel abroad. Deciding how to pay for your travel expenses is one the most important decisions you face in relation to an international trip. A l...
On Monday 26th September, The Reserve Bank of Australia (RBA) announced that it is expecting to complete its central bank digital currency (CBDC) pilot by the middle of 2023. According to media released published by the agency, the purpose of the pilot is to "explore innov...
A former US Internal Revenue Service special counsel has warned that owners of cryptocurrency should treat their digital assets like other investments and play by the rules when it comes to reporting income. Roger Brown, who currently works as the global head of tax strategy...
In today’s world would-be entrepreneurs have more opportunities than ever to fund their businesses, this is mainly due to the growth of digital tools that are available. This means that it is possible to start a business with no money, or at least with very little. If you ...
Australian crypto entrepreneur Fred Schebesta has described the Australian government's prioritization of token mapping as “wonderful,” however he also warns that rushing it could lead to damaging effects on the economy. Fred Schebesta's statements have been made in a res...
Launching a new business is an exciting and fun thing to do but at the same time it can be extremely stressful and confusing. It is important to be aware of the many legal and financial related requirement business owners must follow when operating a business. It is also importa...
Australia is set to become the first country in the world to review cryptocurrency related reforms and create a regulatory and licensing framework for the cryptocurrency industry. At the present time, crypto has been generally unregulated despite the Australian Tax Office (A...
It is highly likely that you have come across the term “negative gearing” in relation to the investing of a property. When it comes to investing, the term 'gearing' refers to borrowing to buy an asset. It is generally a way of describing borrowing to invest. This means that ...
In August 2022, the Reserve Bank of Australia (RBA) announced its plan to examine the potential economic benefits of introducing a central bank digital currency (CBDC). In a statement to the media on Tuesday 9th August 2022 the RBA outlined that would carry out a year-long...
Legal experts around the world believe that crypto traders who are hoping to regain their funds from failed cryptocurrency exchanges anytime soon are likely to end up disappointed. In August 2022, crypto trading and lending firms Celsius and Voyager Digital both filed for ba...
Research shows that 1 in 5 Australians currently own some form of cryptocurrency. Despite crypto becoming a more common investment most people still view it as a very risky investment mainly due to its high levels of volatility. Despite the risks here is a list of reasons ...
Cryptocurrencies also known as digital currencies are created and held electronically. Unlike traditional money, cryptocurrencies aren’t printed and no one controls them. Cryptocurrencies are produced by people and in more recent times by businesses who are running computers a...
The value of cryptocurrency is arguably similar to that of precious metals. Both are limited in quantity and have select use cases. Precious metals such as; gold is used in industrial applications, in comparison Bitcoin’s underlying technology, the blockchain has some applicat...
Cryptocurrency has been praised and criticised for a number of different reasons, thus making digital currency an extremely polarising topic of discussion. It has been heavily criticised for its volatility, its use in nefarious transactions and for the excessive use of elect...
It is super easy for most people to get distracted. Social media, Netflix and conversations in the hallway at work all contribute towards taking away our focus when we need to get work done. Here are some tips to reduce your chances of getting distracted and increase your chanc...
On the 31st March 2022, the Indian Government introduced a 30 percent tax on cryptocurrency. The Government proceeded to introduce the new law despite several warnings from stakeholders who were concerned the negative impacts the law would most likely have on India’s crypto ind...
An increasing percentage of Australians are becoming disappointed with the lack of progress by made businesses towards sustainability and social initiatives, and are encouraging Australian businesses to step up and become more proactive in making change. As people around t...
Introducing new forms of innovation into your business model is super important for any business that wishes to continue to evolve, keep up with it’s competitors and remain relevant to their target audience. All innovation ultimately begins as a simple idea, but bringing...
The Victorian Government has announced that seniors residing in the state will be given access to an extra 10,000 travel vouchers, in a bid to bolter the state’s tourism industry that has been badly affected by the covid-19 pandemic. Under the scheme, seniors who hold th...
In 2021, the cost of building a new home increased by 20 percent. A number of factors such as; material shortages, disrupted supply chains and a bigger demand for skilled tradespeople all contributed towards this increase. It is now set to be even more expensive to build a h...
The FBI has revealed that hackers who are associated with the North Korean Government Have stolen just over $810 million worth of cryptocurrency. The cyber-attack occurred in March 2022 and was undertaken by a Pyongyang based video game company. "Through our investigation we ...
One of the most difficult things to consider when planning the social media strategy for your business is to figure out how often you should be posting on each social media platform. As a social media manager, your ultimate goal is to achieve the best result from each social...
Moving out of home and renting a property for the first time is an exciting experience and huge personal milestone to accomplish, but at the time it is a daunting experience. There’s inspections and things like electricity and internet to think about. Here are some tips for p...
In recent months millions of Australians have been forced to adjust their spending habits as the prices of groceries continue to increase. A shopping survey conducted by consumer comparison company Canstar Blue found that, in the face of rising prices, shoppers had been fo...
From July 2022 onwards Australian customers will be able to use cryptocurrency as a form of payment in over 170 convenience stores and service stations located in South Australia. The announcement comes as a large number of private companies continue to cautiously embrace di...
The Commonwealth is still paddling through a sea of red tape which has been inflicted by financial regulators prior to launching its crypto products to all of its retail users. Financial regulators are standing in the way of expanded crypto services on Commonwealth Bank of A...
A large number of business leaders and crypto investors are calling for Australia’s tax rules to be updated to keep up to the pace of the rapid innovation that is occurring in the $52 trillion crypto market. Crypto entrepreneurs are begging for the regulatory and legal c...
The National Tax and Accountants Association (NTAA) is asking for the ATO to do more to clarify the application of tax deductions for Covid-19 tests because new legislation fails at “removing doubt”. Taxation manager Rebecca Morgan said s.25-125 of the ITAA 1997 in the n...
The $250 cost of living payment which was announced as part of the 2022 Federal Budget will provide millions of Australians with a much-needed financial boost. A $420 one-off tax break was also revealed for more than ten million Australians, while the six million concessio...
The covid-19 pandemic has changed a lot of people’s attitudes towards working a typical 9 to 5 job and undertaking university study. Most people are looking for freedom, passive income and a flexible lifestyle so that way they are ensured a healthy work-life balance. If yo...
In today’s world social media is one of the most impactful ways a business can promote their business to reach a large audience. A more common way to use social media is to utilise a social media content creator or an influencer to promote your brand. As great as it is t...
Across Australia the risk of businesses and individuals becoming victims of a ransomware attack is becoming a more common occurrence. Unfortunately, ransomware attacks have become a genuine threat to everyone from large enterprises, small businesses and even home users who have ...
If you are the type of person who has large amounts of knowledge in a specific field you might be able to leverage your knowledge and successfully build a profitable consulting business. Regardless of whether you are in between jobs or looking to make a change, learn...
It has been revealed that 35.3 percent of the money allocated in the 2022 Federal Budget will be spent on social security and welfare payments after an increase was introduced earlier this month. This will bring the total amount spent to $221.68 billion. A decrease from $227.8 b...
Philip Lowe the Governor of the Reserve Bank of Australia, hopes that inflation spike is just a one-off caused by supply chain disruption and soaring oil prices due to Ukraine invasion. Mr Lowe has also warned that Australians are set to take a real pay cut of 1.5 percent th...
Knowing how to give your employees constructive feedback is an incredibly valuable skill to have. If you have the knowledge of knowing how to give feedback properly you have the potential to your employee the ability to grow and develop the people of your organization, improve t...
Managing a team of employees for the first time can be very intimidating and full of challenges. In most cases, there’s no set approach to leadership, which means that many new managers don’t know where to start. While becoming a manager for the first time can be a ver...
It has been reported that 24 percent of young Australians are planning to work in the healthcare industry. The findings were discovered in the results of a recent survey that included the responses of 5000 young Australians. “During the pandemic, we’ve seen some of the...
The Australian Government is planning to distribute one-off cash payments of $250 to pensioners to help them with the cost-of-living pressures. Government pensions and allowances are the number one source of income for millions of retirees across Australia. However, it is ...
As the Great Resignation causes havoc to businesses across Australia it is super important to make sure that your business has a strategic interview process to make sure that you hire the right candidates and replace your old employees with new employees who have the required sk...
Without having any serious discipline or well-organised financial strategy it is super easy to waste money by buying unnecessary things. Many people often talk about how much regret they have after going a long period of time without any strict financial plan in place. By ...
Millions of Australian workers are preparing to quit their jobs in the upcoming months. However, before handing in your resignation letter it would be a good idea to think deeply and critically about whether or not you are making the right decision and also better assess how you...
Having a strong branding strategy tied to your business can go along way at making it easier for your business to attract the attention of a large number of new customers. Creating the right brand image is vital to the growth of your business. To make an image of your bran...
Influencer marketing can be best described as a collaboration that involves a brand working with an online influencer to promote the businesses services or products. Some influencer marketing collaborations are less tangible than that as some brands simply work with influence...
Recently published research from National Australia Bank (NAB) has shown that one in five Australian workers quit their job in 2021. The research also outlined that one quarter of Australian workers are also considering changing their place of employment. Julie Rynski the NA...
Covid-19 has significantly changed the landscape and structure of Australia’s workforce. A combination of historically low unemployment rates and The Great Resignation is going to create many challenges for Australian businesses in 2022. Since the balance of power has shift...
As a business owner knowing how to network effectively is one of the most valuable skills you can acquire. Networking skills can be best described as the skills you need to have to maintain professional or social contacts. Networking is a crucial skill in sales environment, busin...
TikTok has quickly become one of the most popular social media platforms on the planet. Its usage has skyrocketed over the course of the covid-19 pandemic and as a result has become a valuable marketing tool for businesses who are wanting to expand their customer base. Here a...
There have been a number of sophisticated and well-organised scammers who have been exploiting the popularity of cryptocurrency by creating fake apps with the intention to steal hundreds of thousands of dollars from wannabe Australian crypto investors. Recent data published b...
Confronting data has shown that mental health challenges caused by the impact of covid-19 has affected over half of Queensland business owners and their staff. The Chamber of Commerce and Industry Queensland (CCIQ) revealed that close to 63% of businesses surveyed by CCIQ sta...
Being an owner of a small business means that your daily life is full of plenty of responsibilities that impact both your own financial situation and livelihood. If you are wanting to become more productive and consequently create a more successful future for both yourself and yo...
For many Australian business owners having a high-quality accountant is essential to ensuring that your business continues to remain successful for the foreseeable future. If you find yourself in a situation where you feel like your accountant is doing the bare minimum, it might...
Over the past 12 months, cryptocurrency has significantly increased in popularity across the world. 55 percent of Bitcoin investors say that they only started investing in 2021. At the start of this year The Commonwealth Bank announced that it was becoming the first of Australia...
As a result of the covid-19 pandemic, Australia is currently experiencing a skills shortage. This means that businesses are experiencing tough competition and must compete hard to attract high quality workers. The easiest way to attract high quality workers is to offer the...
A recently published survey showed that almost 1 in 10 Australians are currently investing in cryptocurrency. Despite crypto becoming a more common investment most people still view it as a very risky investment and its riskiness is one of the reasons why they are willing to inv...
The unemployment rate in Australia has surprisingly dropped to 4.2 percent in December 2021 from the figures of 4.6 percent recorded in the previous month. The drop means that Australia is currently experiencing it’s lowest recorded levels of unemployment since 2008. The A...
Living Paycheck to Paycheck without having any money in a savings account can be a risky way to live and even more dangerous in the age of the covid-19 pandemic. High inflation means that the cost of consumer products has risen exponentially. Nowadays, people are paying more ...
It has been reported that over one quarter of Queensland’s workforce have unpaid super, with the average worker set to lose $60,000 by the time they reach retirement. The newly published analysis complied by Industry Super Australia (ISA) discovered that cumulative losse...
The high levels of panic buying witnessed in Western Australia in the early stages of the covid-19 pandemic is set to return as the states border is planning to be re-opened to the rest of the country on Monday 5th February. Supermarket shelves are being left empty due to a...
Some restaurants across Australia have resorted in poaching workers from rival hospitality venues by offering them a higher pay rise to keep their business operating. Furthermore, a number of hospitality establishments across Australia have been forced to close temporarily for t...
For many Tasmanian businesses, the re-opening of the state’s border to the rest of Australia is causing plenty of logistical nightmares. Bernadette Wood who owns a venue in southern Tasmanian has revealed that despite a huge increase in interstate bookings, late cancella...
There are a huge number of tax deductions available for freelance workers regardless of whether your video skills are in popular demand or your Airtasker gigs are bringing in more money. Here is a list of important information you should aware of if you are currently working or ...
Rob Lucas the Treasurer of South Australia has revealed that all shops will be allowed to trade on Australia Day between the hours of 11am to 5pm regardless of its size or its businesses location. The special exemption will give permission to shoppers in the suburbs of Adelaide ...
It is unfortunately possible that a sudden and unexpected incident of critical illness or serious injury can make it difficult to continue to work. Trauma insurance can help support you and your family at this time and pay for medical and rehabilitation costs. What Trauma...
Australians are being urged to do one thing that has the potential to boost their super by tens or even hundreds of thousands of dollars. Australians are being encouraged to check if their super accounts are performing this year, after a comparison tool launched five months...
If you want to develop a successful marketing strategy for your business in 2022 you have been open-minded and embracive of new trends and technologies that are available to help your business succeed. In previous generations, marketing was about getting your name out ther...
When you retire, you might be eligible to receive government benefits such as the Age Pension or a concession card. This type of pension and benefits you are entitled to generally will depend on your age, assets and your income. Age Pension In most cases, to be eligib...
Unless you tell your money what to do it will simply go walkabout. As a pilot working as a very busy professional you will at times struggle to designate spare time to draw up a budget. Despite, being often time poor it is highly important to make creating a budget a top priorit...
Money is very much about psychology as what it is about numbers. A person’s attitudes and beliefs towards money can have a huge impact on your financial decisions and consequently the financial results of the decisions we make. Here are some important mindset shifts that...
Saving more money is one of the most common New Year’s resolutions that people have every year but most of the time a lot of people fail to fulfil this goal and unfortunately fall back into their old ways of struggling to get on top of this money related goals. It is sup...
Launching your own business is a difficult task and is not for everyone. Here is a list of traits that every aspiring entrepreneur should have if they wish to succeed in running their own business and also overcome the many obstacles that they’ll face during the early days of ...
A person’s everyday expenses can quickly add up to be huge amounts and often you will receive unexpected bills which will only add even more stress to your financial situation. This has become a bigger problem over the past 18 months with more Australians stuck at home du...
In early November, the Commonwealth Bank announced that it plans to allow users of it’s CommBank app to trade cryptocurrencies. This announcement is a game changer for cryptocurrency in Australia, as the Commonwealth Bank is consequently the first of the four major banks to al...
If you as a business owner are afraid about some of your best staff resigning in the upcoming months, here are tips to help enhance the quality of your workplace environment and consequently find new ways to entice your staff members to continue to work with your organisation. ...
In recent years cyber security has continued to be a major problem with businesses of all shapes and sizes. It is becoming more evident that former employees who leave an organisation disgruntled pose of the biggest cyber security risks for businesses. Cyber-security...
Many small business owners find that time is elusive and as a result of this marketing tends to fall to the back burner and is not given as much thought as what is required to help your organisation succeed. Owners are so busy running their business, honouring family commi...
A recent survey has discovered that half of Australian businesses find it more challenging to hire skilled professionals at the present time in compared to before the covid-19 pandemic. This mainly due to a huge competition for talent brought about by the restrictions on migrati...
A recent survey has discovered that 1 in 5 Australian SME’s have been targeted with fraudulent invoices. Overall, the findings reveal that during the past 12 months eighteen percent of small businesses and sole traders have been victims of invoice fraud. With the average loss ...
Struggling businesses within the tourism industry have revealed that they have unfortunately had to turn away visitors who have been vaccinated overseas because there is no easy way to prove that they have been immunised. The Victorian Tourism Industry Council and Restaura...
The volatility of cryptocurrency is one of the major reasons why many people refuse to invest in the digital currency. The key reason for cryptocurrencies volatility is their newness. Throughout history, there have been many new phenomena’s that have taken time to settle down ...
Every business is unique and so is every customer, this means that the marketing strategies applied to entice customers will need to be diversified and readjusted to enhance the likelihood of enticing people from different types of social demographics and target audiences. ...
Planning for your retirement is a lifelong project and many mistakes that are often made can be avoided whilst you are young thus making it for more possible for you to live a more comfortable retirement. Saving for retirement can be full of challenges, here is a lis...
As a result of international border closures, there is a huge opportunity for young Australians to rethink how they invest their money and time to help them create a desirable future. Here are some tips for young Australians who are hungry to achieve their financial ...
Current Australian directors will now be given 12 months to apply to receive their unique director identification number before fines of over $1.1 million kick in for non-compliance. Existing company directors will now be required to apply for a director identification numbe...
Recently published research has shown that the occurrence of older workers in Australia being subjected to age related discrimination in the workplace has almost doubled in the past five years. According to the Australian Seniors Series: Ageing in the Workforce 2021 report, ...
Creating a well-structured budget is an essential part of managing your money intelligently and getting the most value out of your savings. Sadly, not all budgets are created equally and sometimes a poorly organised budget can do more harm than good, thus preventing a person ...
The revenue threshold for small, medium and large charities is set to be increased. This will save over 5,000 charities the need to produce reviewed or audited financial statements. The Treasury is in the process of currently consulting on exposure draft legislation which th...
Businesses across covid-19 ravaged parts of New South Wales and Victoria are looking forward to being able to open to more customers when the states that reach their double vaccination targets. Despite the impending exciting there is also fears of confrontations that will oc...
As a result of covid-19 enforced lockdowns, payroll jobs across Australia dropped during the early weeks of August. The Australian Bureau of Statistics (ABS) announced that payroll jobs fell by a further 0.7 percent in the fortnight to Saturday 14th August when compared to a...
Running a successful business takes huge amounts of time, effort and devotion. The majority of business eventually fail, here are some tips to help your business avoid becoming another statistic and ultimately go onto to achieve long term success as a business. Hire The Rig...
The Australian Government has announced that age pension, JobSeeker and a range of other social security payments will soon be increased. The Government has revealed that on Monday 20th September, the maximum single age pension rate will increase by $14.80 to $967.50 each fortni...
An excess of 175,000 business across Victoria will benefit from a four-week $2.34 billion booster package. The package is due to run until the 30th September as the state’s businesses continue to struggle with the ongoing lockdown. On Saturday 4th September, Victorian Prem...
According to recently published research from NAB, it has been revealed that business conditions managed to reach record highs in the weeks leading up to the new lockdowns which have been enforced across Australia. Improved trading, profitability and employment conditions acros...
Tourism and Events Queensland have released a new campaign to promote domestic travel within Queensland during the course of the covid-19 pandemic. The campaign was launching in the week coinciding with Brisbane being named the host of the 2032 Summer Olympics. The campa...
The recently published Consumer Sentiment Survey published by NAB illustrates that current economic uncertainty has caused many Australians to become more cautious with their spending. Generally, the majority of Australian consumers report choosing to buy less expensive products...
If you ask a number of entrepreneurs why they decided to start a business you are assured to receive a variety of different and sometimes surprising answers. Some entrepreneurs begin their business to find a solution to a problem, some might be fed up with working for someone el...
It is very common for small business owners to talk about how they would love to have some time to work “on their business” and not “in their business”. Although lockdowns can be frustrating and result in a large number of financial challenges, small business owners ...
As the End of Financial Year draws closer here are some important tips to help small businesses minimise their tax position before 30th June. Superannuation If you are wanting to save some real tax money, contributing to your super fund should be one of your strategies, ...
Small Businesses in Australia are coming out on top as an unintended consequence of the covid-19 pandemic. Recently published research complied by the Australian Made Campaign has revealed that consumer sentiment across Australia has skyrocketed to support local products to ...
If you are wanting to pay less tax, following a number of very important but very simple record keeping habits could make tax time easier each year and a number of different areas in your life a lot less stress free. Recently the Australian Tax Office (ATO) has begun to crac...
To save more money, you don’t need to always make huge changes to your lifestyle. You don’t have to suddenly find a new job that pays for five times more than your currently salary. What you need to do is set a few realistic, do-able lifestyle tweaks and decide to commit to ...
The Australian Tax Office (ATO) wants taxpayers to be aware that there are four key ineligible work-from-home claims they will be monitoring closely as Australians look to make the most of their flexible working arrangements. The ATO has remained taxpayers that while the tem...
The Australian Tax Office (ATO) has announced a new recruitment program that gives recent high school graduates living in four regional towns an opportunity to land a 12-month job with the ATO. The program known as the “Career Kickstart Program” will be available for recent...
Whenever there is an opportunity to apply for a grant which could benefit you or your business it is super important to make sure you are organised and fully prepared before you apply. Successful grant applicants must meet the grants eligibility criteria. It should also have...
The Curtin University Not-for-profit Initiative has teamed up with NDS to develop a practical learning program which aims to increase costing and pricing skills for disability service providers across Australia. The purpose of the program is to build knowledge and skills aro...
The federal government has announced that as part of the May 2021 Budget, Independent distillers and craft brewers across Australia will receive tax cuts to encourage them to invest more money into their businesses. The additional money saved as a result of the tax cuts will ...
Often when you donate money to a charity, your donation can be tax deductable. Tax deductible donations are a fantastic way to give your tax refund a boost while contributing to a worthy cause that is close to your heart. This is the definition of a win-win situation. It is ...
Millions of businesses across Australia have been financially impacted by the covid-19 pandemic. Sudden long downs and restrictions on the number of people allowed in venues has made it difficult for many businesses to remain financially viable. This means that starting a busine...
Planning and executing a successful exit strategy to either sell your family business or introduce a succession plan within your family has many challenges.
Particularly in the age of covid-19 when banks have stricter borrowing conditions. Businesses at the present time are als...
Every year millions of Australians miss out on taking advantage of a large number of legitimate tax deductions. It is highly valuable for employees and employers alike to determine if they are getting the full tax refund that they are entitled. Here are some tips...
The Australian Government has published two pieces of draft legislation which were originally announced in the most recent federal budget from October 2020. The first piece of legislation which has been released include measures to exempt employers from the 47 percent fringe ben...
Working for yourself can be very rewarding for individuals working in the beauty services industry. Here are some tips to help practitioners who are wanting to start their own laser hair removal clinic. Make Sure You Are Legally Certified and Obtain A “Cosmetic Possession Lic...
If you are an Australian resident who aspires to distil their own alcohol, it is essential to be aware of the fact that you are required to pay tax on the alcohol you produce. Australians are required to obtain a licence to distil alcohol which is available to obtain for free fr...
The Australian Bureau of Statistics (ABS) has announced that almost 71,000 new jobs were added to the Australian workforce between February and March 2021. The total hours worked has also returned to the same levels that were recorded prior to the covid-19 pandemic. These figur...
It super important for owners of sleep clinics to take their marketing strategy for their business seriously if they are wanting to stay engaged with their existing clients and attract a larger number of patients. Focus on creating a brand that your customers will trust and are...
The hospitality industry has been one of the hardest hit sectors during the covid-19 pandemic. To make your financial situation less difficult it is important for hospitality workers to be aware of the many tax deductions that they are entitled to thus allowing them to put a huge...
If you are thinking about starting or have recently established a business that specialises in distilling alcoholic spirits here are some tips to help your business become more successful.
Focus on Building Your Unique Brand
Creating an alcoholic beverage that tastes great i...
Pubs across Australia are requesting for the federal government to reduce the tax on draught beer to lessen the burden on inner-city venues that have been financially disrupted by the covid-19 lockdowns and restrictions since the beginning of the pandemic. There are calls being...
Restaurants and bottle shops can soon expect to be contacted by the Australian Tax Office (ATO) in relation to potential audit action as the tax agency aims to tighten its grip on the sale and distribution of illicit alcohol. The ATO has recently issued Taxpayer Alert TA 2020/1...
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