Blog | Summers & Summers Miranda

What to do about Bitcoin

There is a lot of talk about Bitcoin going around, so here is an article by Noel Whittaker, that we recently came across that you might find interesting.

ID Numbers for Directors

Each Australian company director will be assigned a unique identification number under tough new laws designed to prevent them deliberately scuttling their companies.

Get Your Deductions Right

Why keep records of deductions? The Australian income tax system is based upon a self-assessment system whereby individuals claim deductions for work related expenses they incur and these expenses are accepted on the face of it as being true and correct by the ATO.  Keeping records is a requirement by law.  Having proof of purchases […]

Fringe Benefits Tax – What you need to know

What is Fringe Benefits Tax (FBT)? Fringe Benefits Tax (FBT) is a tax paid by the employer in respect of non-cash benefits provided to their employees. This tax is paid annually and is deductible to the employer. Common Benefits subject to FBT Motor Vehicles A typical example of a fringe benefit is where a motor […]

How to cope with difficult people in the workplace (or anywhere else)

Several years ago, I had a customer who would glower at me as soon as I entered his department. He would say, ‘Fix it right this time, or get it out of here,’ no matter what the problem was. If I was even one minute later than my ETA, he would be on the phone with my boss, complaining about the horrible service he was getting. Because he...

How to grow your family business

Working with family members presents unique advantages, and unique challenges. If you've built up your own business, now might be the time to bring in other family members. Here’s how to avoid some of the pitfalls.

How to prepare a small business for mobile job management software

Job sheets, whiteboards, clipboards, filing cabinets … these are the communication and information storage tools of old-fashioned, inefficient small businesses. For owners and managers of trades and services companies who are only familiar with these traditional ways of working, and systems that may have been used for decades, it can seem like a...

Employee or contractor? We help bust the myths!

As an employer, it's important that you understand the difference between employees and contractors. Employing someone under the wrong arrangement could put your business at risk of penalties. Things like your tax and super obligations are also affected by your workers’ arrangement.

Five tips on how to put your business in pole position

‘I love deadlines…. especially the whooshing noise they make as they go by!’ That’s one of my favourite “Dilbert” quotes about business but it flies in the face of what motorsport stands for. Motorsport is a business of hitting deadlines because it doesn’t matter what reasons or excuses there are, the race will always start on...

Manage a cash gap in your business

One of the tougher challenges for many trade businesses today in terms of finance is what’s commonly referred to as a cash gap. A cash gap is a lag which occurs between income and cost of goods sold (COGS); that is, cash inflows and outflows. Businesses that suffer from a cash gap may be profitable on paper, but have cash flow problems because...

Effective tips for training small business employees

A big mistake made by small business managers is not providing adequate staff training. It doesn’t matter if a business is bringing in a new employee or the latest piece of specialist machinery or mobile technology, staff who aren’t trained properly will cost time and money. In the long run, businesses who don’t make training a priority will...

Trust: The currency of the new economy

How did trust, that fundamental building block of human behaviour, become a cornerstone of modern business? Once something that required significant time and investment to build, maintain and yield results, trust is now being made and broken by strangers at speed – and that shift is being commoditised.

8 ways to better manage your staff

Good managers can make or break a business. They're essential to developing a positive and productive workforce, which, in turn, improves employee retention levels and ensures everybody in the business is working in line with the company’s strategy and objectives.

How to be more productive when you work from home

Freelancing and gigging are gaining popularity fast. Not only do you get the flexibility to work when and how you want, a lot of these jobs let you work from home. However, if you’ve never worked from home before this can be a challenge. Treating your home like an office can take practice, especially if you don’t have enough space for a...

What You Really Should Look For When Hiring New Staff

Hiring the right person for the job isn’t always a straightforward process. There are many variables to consider and whether you are a startup looking to hire your very first member of staff or already have a few team members on board and are looking to expand, the right person with the right skills can really enhance your work environment and...

7 Common HR Mistakes you can’t afford to make

If you’re like most small business owners and managers, you probably wear many hats and are responsible for many areas of your business. You’re the CEO, bean counter, marketing whiz, sales guru, lead developer, and more. So you’ve typically got your hands full developing growth strategies, optimising the cash flow, managing customer...

How to Approach Your Bank for Funding

Applying for funding from a bank can be daunting. It’s a lengthy process which involves jumping through hoop after hoop with no guarantee of success. But it doesn’t have to be that way, follow our guide to ensure you go into the loan process with the correct information and watch your chances of approval soar.

Hit a Profit Plateau? 8 Breakout Ideas for Small Businesses

Starting your own business can feel like scaling Mt Kilimanjaro. You dig your feet in, climb, and pray for the best. It’s an exciting, chaotic, and hope-filled journey… But what happens when you reach the top of the mountain? Is there anywhere to go but downhill? Unfortunately many small businesses grind to a halt - or even start to decline...

4 ways to adapt to the changes that come with starting a business

In the world of small business, the changing nature of competition requires us to constantly adjust and adapt, succeed and remain grounded. Everyday business decisions can be a continuous battle between the urge to stand still and consolidate, or push to achieve more. So how do you strike the right balance? Multi-medal winning swimmer Michael...
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