How cash flow forecasts can help you

Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank…  Read more

What home office expenses am I allowed to claim now I’m working from home?

If you work part of all of your job from home, you may be able to claim a deduction for the costs incurred in running your home office in your next Tax Return. Even if the room is not set aside solely for work-related purposes.  Since the outbreak of Coronavirus in Australia, the Australian Tax Office (ATO), has announced unique rules to make it easier for people to claim deductions…  Read more

What is the JobKeeper Alternative Test?

  Wondering what to do if you don’t meet the Basic Decline in Turnover Test requirements for JobKeeper? The ATO has released its guidelines for the Alternative Decline in Turnover Test  which are available now on the ATO website. In an effort to simplify the guidelines, we’ve summarised the rules for the test in this article. It’s important to note, the alternative test only applies when an entity fails the…  Read more