A capital gain (or loss) occurs when an asset is sold. The difference between the purchase price and the sale price is the gain or loss. Capital gains tax (CGT) applies to money you have made from selling an eligible asset. Capital gains tax events occur when an asset is sold, or other triggers arise, such as the loss, theft, or destruction of an asset, or creating contractual or other rights to an asset. Not all assets are subject to CGT. Common

From 1st November, if you have any new employees start work with you and they don’t nominate a specific superannuation fund, you may need to request their ‘stapled super fund’ details from the ATO. As your accountant, we can help you with this. Choosing a super fund Most employees are eligible to choose a super fund when starting a new job. However, sometimes an employee might not make a choice. For example, they might omit to complete the form, or they might not

Whether it’s the hustle-bustle, the creativity it inspires, or its lack of household distractions, the ‘coffice’ is rapidly becoming a top choice for flexible workers looking to escape the monotony and isolation of working from home. But just like any work environment, there are house rules. Keep up your rent – don’t sit for five hours and buy one flat white, the rule of thumb is one (item) per hour.Take up as little space as you can. Avoid large tables and if

The job market is running hot and it’s tough to attract good new staff. You need to write a job listing that will help your role stand out in the crowd. Here are three tips for writing a more appealing job ad: 1. Sell the role up front Instead of beginning with a job description or a list of requirements, sell the role first. Think about what makes the job most appealing; it might be the industry, location, salary or perks. Spell out the

How do you make sure your business is on the best possible footing when you are ready to leave it? Here’s our advice… What is a business exit strategy? An exit strategy is a plan for wrapping up your involvement in a business. For most people, that means readying the business for a change of owner. Executing a well thought-out exit strategy can increase your sale price, while ensuring the business continues to thrive after you’ve left. This can also be called

YouTube is without doubt one of the biggest social media platforms in the world, with 2billion+ userslogging in from over 100 countries and in 80 different languages. The platform is owned by Google, which gives you an indication of the huge reach that YouTube has as a digital marketing channel. Having started out as a video upload site in 2005, YouTube has gradually evolved to become the standard hub for hosting your company’s video content. It’s most people’s first port of

Do you know how much it costs you to produce each product or service in your range? The better you can understand this cost of sales – or cost of goods sold (COGS), as it’s more commonly known – the more ability you have to control your company’s profitability. When you know your COGS, you can set the right price point, control your profit margins and ensure that you’re maximising your gross profit. But to do this, you need to understand COGS

The purpose of a business is to make money, and that means you have to know the difference between profit and cashflow. Net profit is what you have left after you deduct all your business expenses from all your revenue. You change net profit only by changing the things that affect revenue and expenses. For example, if: You renegotiate with your suppliers, you may get stock cheaper, or carry less inventoryYour staff engage with customers better, you can learn more about what they

Instagram for Business has a wide range of ways for you to share images and stories, create targeted adverts and create a social media shopfront for your business. Instagram is owned and run by Facebook, giving you access to a huge marketplace and a wide cross-section of different customers and prospects. Although Instagram started out as a simple photo-sharing platform, its links with Facebook now mean it’s a far more powerful and diverse tool to have in your social media armoury. Whether

The best clients make being in business all worthwhile. They value your expertise, appreciate your hard work, they’re friendly to work with and they pay their invoices. You’ll always go the extra mile for those clients – they drive your success. Then there are the clients who aren’t quite as enjoyable to work with. The ones who want everything in a hurry, at a rock-bottom price, and then complain about the invoice. Should you consider getting rid of your worst clients? Rate