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This threat has been highlighted by cyber security experts for years, but it wasn’t until May 2022 that the Australian Federal Court made a decision to place the responsibility of cyber security defence on companies that operate in financial services. The court ruled that an Australian financial services company failed to meet its obligations by not mitigating its cyber security risks thoroughly.
When starting, most businesses handle their accounting tasks using Excel. While efficient, it may not support the needs of your growing business. Since 2000, it has been mandatory for all Australian businesses to add and report GST. As such, many business owners find it much more convenient to record their financial data digitally. However, some are still struggling. To help make the transition to online reporting, this blog outlines:
Most of us consider Outlook as the industry standard for email, but it’s also an incredibly powerful business tool which encompasses contacts, calendars and all sorts of other organisational instruments. To increase productivity, save time and allow your day to become a little less cluttered, why not try incorporating some of these Outlook tips and tricks into your working regimen?
Deputy is a powerful piece of software renowned for making businesses smart, quick and simple. With more than 290,000 happy clients that continue to advocate for the software, Deputy is transforming the landscape of Australian business operations.
Why wouldn't you want to make your life and job easier? As a small business, using all the resources and tools available to you is the best way to stay ahead. There are dozens of handy apps out there designed for various purposes, from taking payments and handling your accounts to keeping productivity high and communicating with your team. Here are a few of our top picks for must-have apps that any small business should try:
It can be daunting to look at balance sheets and income statements. After all, coming across terms you’re unfamiliar with when you’re already trying to juggle business accounting only adds to your stress. Luckily, most of the terms are fairly self-explanatory.
It may seem like a long way off, but Christmas is around the corner – and with many Australians no doubt planning to take to Amazon to get their Christmas shopping in, it's likely that Amazon e-commerce sellers, in particular, are already well into the swing of preparing for the festive rush.
Following the release of the Annual Wage Review in 2021, it has been announced that the Fair Work Commission, also known as the FWC, will be increasing the national minimum wage in Australia by a total of 2.5%.
With initiatives supporting Australia’s small business owners in handling digital rollouts for payroll, from PAYG to wages, the ATO has been slowly but steadily moving towards a new set of compliance requirements. As of the 1st July 2021, STP is no longer optional, and the majority of small businesses will be required to meet specified STP compliance rules.
On the 27th of May, 2021, Victoria's government announced a $250.7 million Circuit Breaker Business Support Package. Designed to support small and medium businesses, this specific package assists 90,000 sole traders and business owners over three separate initiatives. With lockdowns now extending across Australia again, the Victorian Government announced an additional $209.3 million worth of grant funding, taking the total to $460 million.
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