Accounting Professionals Blog

While Covid-19 lockdown restrictions have eased, allowing many small businesses to re-open, Accounting Professional Director of Business Services Garry Pinch believes innovative thinking by small business operators and further government assistance will be necessary...

The COVID-19 pandemic has seen businesses in all industries face an unprecedented situation and be called upon to survive and adapt as they tackle new challenges. We’ve been dedicated to regularly updating our clients to ensure...

As a business owner during the Coronavirus pandemic (Covid-19), you need to face the possibility of team members being absent from your workplace, product supply issues and demand for your services and products reducing over the short term. There are three urgent...

Trainee accountant Eden Close certainly hasn’t followed the traditional path to a career in accounting and finance.  The 24-year-old from Bega on the NSW far South Coast veered off the well-travelled path from school to university before settling in at...

In response to the recommendations of the Banking and Financial services Royal Commission and the ASIC Enforcement Review Taskforce Report, the government has proposed new enforcement and supervision powers for ASIC to restore consumer confidence in the financial...

As bushfires continue to rage across the country, bushfire support for devastated communities are coming from all sides and the ATO is no exception. It has announced automatic deferrals for lodgement and payments for taxpayers in impacted postcodes in the states of...

By Garry PinchBusiness Services Director, Accounting Professionals As a mentor to Start-ups and Scale-ups I regularly assist with strategies and campaigns to raise start up capital. Unfortunately, in my experience, 90% of businesses don’t allow enough time to raise...

Made a tax loss? Are you getting the benefit of your business tax losses? When you’re starting a new business venture, it may take some time before the business becomes profitable. And there may be other situations where an established business operates at a loss in a...

Health insurance and your tax: uncovered. If you don’t hold private hospital cover – or are thinking about dropping it – make sure you understand the financial consequences. You could be hit with an extra tax surcharge of up to 1.5% or cost yourself extra premiums in...

Selling shares: how does tax apply? Did you know that when you sell your shares, the size of your capital gains tax (CGT) bill is affected by how long you’ve held the shares, and how you offset your capital gains and losses? Here, we break down the rules for taxpayers...

Cloud accounting allows business owners to view and manage their accounting file anytime, anywhere, requiring only an internet connection. Cloud accounting has also reduced upfront business costs eliminating the need for software...

People go into business to get freedom and independence, but most business owners are trained to do the work, not trained to own or manage a business. They don’t want the biggest or most successful business in the world, but the result is often a business that is:...

At Accounting Professionals, we see lots of successful start-up ideas but on average, for every 10 new ideas, only one makes a good business. "Most start-ups believe their secret sauce is their new business idea," says Garry Pinch, AP's Director of Business Advisory....

As accountants, we are frequently asked, "What accounting software are the best performing businesses using and why?"  With a multitude of different accounting packages on the market, the task of choosing the accounting package for your business or the decision of...

What are the tried and true strategies of the best performing businesses?  “How can I make my business better?” This a question we at Accounting Professionals commonly get asked by clients and it will come as no surprise that for even the best performing businesses,...

By Stephanie Pokrivka, Accounting Professionals Single Touch Payroll (STP) has been introduced by the ATO to streamline employer reporting obligations but there may be deeper ramifications for your business if you are not prepared. From 1 July 2019, each time you pay...

Have you created a new full-time position in your business? You may eligible for the Small Business Grant of $2,000. The NSW government has provided a grant to encourage small businesses to employ new full-time, part-time and casual workers. A new job is created when...