Blog | Summers & Summers Miranda

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 […]

Change is a normal and essential part of business. It’s an important step in improving your staff performance, enhancing goods or services and expanding.

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...

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.

If you track income and expenses on a spreadsheet, you could be losing sight of how your business is performing and wasting a lot of time on data entry. There are low-cost alternatives that allow you to monitor business cashflow really simply.

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...

Are your staff turning up late, grouchy and stressed? Do they have a distant look in their eyes (like they’d rather be anywhere else)? Is your turnover rate on the rise?

Not too long ago, customers walked into retail stores without knowing much about their products. They’d browse the merchandise to discover items they liked, relying on store associates for more details and information.

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.

‘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...

Marketing. *Cringe*. You can think of a million things you’d rather be doing. The ice bucket challenge in the middle of winter. A half marathon with your ridiculously fit niece, a Toastmasters table topics competition in front of 100 unknown people.

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...

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...

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.

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...

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...