Warranty changes are coming that may affect your business
Do you offer a warranty against defects in relation to goods or services? It is vital that you are aware of the changes under Australian Consumer Law and include particular wording in your warranty to ensure you comply with the changes.
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4 Tips to Maintaining Cash Flow in Your Business
Anyone in business for more than 30 days knows that cash flow is the most vital part in keeping your doors open! As I recently read in a Harvard Business Review article, ‘You can’t pay bills with profits—only cash”.
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You NEED A Will: Directors and Shareholders
We often meet clients who do not realise the importance of estate planning where they are involved in a private company as a director and/or shareholder.
Recently, we met with a client to prepare their Will, they were ready to tell us about their intentions for their assets and children. However, when we tried to discuss their business succession, they had not thought about it or reviewed their company constitution and trust deeds to see if they provided any options.
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Productivity Hacks – A few ways you can work smarter right now
tick off all the things on your to-do list.
We can all benefit from finding ways to become more productive in our lives; especially those of you starting or running a small business. We are passionate about the power of small business in the community and hope these tips help can you to work smarter so you can get more done.
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Beware: Advice from Gumtree ‘lawyers’ could have you barking up the wrong tree!
Would you take legal advice from a “lawyer” offering his/her services through a Gumtree ad?
The situation seems laughable, but a recent case dealt with an uncertified lay-advocate who had offering advice and services on Gumtree under the guise he was a certified legal practitioner.
The Western Australian Supreme Court decision in Van Der Feltz v Legal Practice Board (2017) resulted in the arm-chair expert being slapped with a $20,000 fine!
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Dispute Resolution Clauses – Why You Need One in Your Business Contract
The commercial reality of business is that even the most agreeable of parties, can butt heads over issues arising in the course of operations. If disagreements aren’t resolved quickly and effectively, it can have a huge effect on your business. This is why including a dispute resolution clause in your business contract is so important.
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Registering Trademarks: Protecting your Brand
A trademark isn’t limited to a logo – it can also be a letter, number, word, phrase, shape, sound, smell, movement, an aspect of packaging, or a combination of these. Think of your trademark like your brand “package”.
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Considering becoming an Uber driver?
Did you know there are tax implications associated with providing free-ride services such as Uber? It’s something many people wanting to become Uber drivers don’t think about but popular second-income earning sources like Uber, Ebay & Airbnb are all subject to income tax.
When it comes to Uber, even if you earn under the $75,000 GST threshold you are still required to register for GST.
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Someone owe you money?
When running a business it is easy to put unpaid bills to the back of your mind and give your debtors a bit more time, and hope they pay eventually.
Whilst that is certainly a noble stance, it does not necessarily make good business sense to forgo money that you worked hard to earn. Especially when cashflow is the lifeblood of every business!
When we get asked to assist a client with chasing a bad debt we usually start with a letter of demand. It is a simple and effective way to make your debtor aware that you will not merely sit back and wait for payment, you will not forgive the debt and will not stand for any more broken promises for payment. After all, you kept your part of the bargain – shouldn’t they?
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Working from home: what you can and can’t claim!
Are you an entrepreneur? A creative? Running a home-based business? Or simply just ‘sticking it to the man’? Regardless of whether you’re working the 9-5 in an office, your bedroom or by the pool – the government would also like to share in your successes.
Whilst almost nobody enjoys paying taxes, there are a few little tax incentives that the Government provides that could make a big difference to your bottom line. Generally, most expenses that a business incurs in producing income are claimable, so be sure to keep records of any spending that is business related!
Here are some tips to help keep more of your hard-earned cash in your pocket…
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