Imagine your business’s finances as a vast and dynamic ocean, each wave representing the ebb and flow of your cashflow. In this analogy, cashflow forecasting becomes your navigation tool, helping you smoothly sail through the financial waters.
Income averaging is a tax-saving strategy introduced by the Australian Tax Office (ATO) to promote tax fairness. It is aimed at individuals who experience significant fluctuations in their earnings, and involves spreading out their taxable income over several years to find the average (i.e. the new taxable income in which they are assessed against).
In this blog post, we’ll explore strategies to enhance your business cashflow, systemise your accounts, and make informed decisions with confidence. Let’s dive in!
In the world of small business, keeping up with the latest data trends and maintaining a healthy cash flow can be quite demanding. This is where Lemonade Beach’s Cashflow Forecasting program, “Swell” steps in – a real time financial tracking and management tool that serves as your financial consultant and advisor.
In this blog post, we delve into the three levels of our Swell Cashflow Forecasting tool: Snapper, Bells, and Mavericks. Each one is designed to address the specific needs of businesses at different phases of their journey.
As we are approaching the end of the financial year, it is important to get the records right to finalise the payroll. Here is an overview of the general year end payroll tasks that you should be working through…
It is common for owners (shareholders) of companies to want to access the profits that have accumulated over time and use these funds for their personal lifestyle. One way this can be achieved is declaring and paying dividends.
As a small business owner too, we know how busy EOFY can be. So, we’ve pulled together 14 tax considerations for Business Owners, to help you prepare for your 2023 Tax Return.
