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Blockchain: innovation for businesses
What exactly is ‘blockchain’ technology? And how could it have a positive impact for your business? Blockchain, or ‘distributed ledger technology’, works by splitting up information into discrete blocks or ledgers, and saves these blocks across multiple servers. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data, creating a…
Supporting your family and team through the lockdown
Many of our clients have been busy ‘firefighting’ and haven’t had a chance to document a clear plan beyond this critical phase. Hopefully the initial shock of going into lockdown is fading and you have capacity to consider what you can do to mitigate the impact of Covid-19 on your family and your team. Your…
Director Penalty Law Extended to GST
Director penalty notices (DPNs) have existed for some years now to recover unpaid PAYG withholding and superannuation. This law means that if a company did not pay PAYGW and superannuation obligations on time, company directors could become personally liable for the amount owing, as well as penalties. The new law started on 1 April 2020…
Common tax deductions for small business
There are many expenses common to most small businesses, and there are other expenses that are specific to the nature of the goods or services the business provides. Are you claiming all the tax deductions that you are entitled to? Operating expenses include accounting, administration, advertising and marketing, office premises, office running expenses, trading stock,…
P is for purpose, not profit
Why does your business exist? Your purpose is roughly three to seven words explaining why your business exists for your customers. Your purpose should be about THEM, not you. It is a small statement, with immense power. EXAMPLES: Tesla: To accelerate the world’s transition to sustainable energy. Walt Disney: To make people happy. TED: Spread…
The Multitasking Effect
There’s an old joke about scientists discovering something that could do the work of two men. One woman. J The implication was that women are better at doing two or more things at once than men, now referred to as ‘multitasking’, and there is some science to back this up. Even so, and regardless of…
