Welcome back to our Business Update! Super to Cover More Employees From 1 July 2022, you will need to pay super to your employees who earn less than $450 per month, provided they meet other eligibility requirements. This expands super guarantee eligibility so employees can receive super regardless of how much they earn. These new rules apply to the first payroll payment of the new pay year, regardless of the… Read more
Don’t make the mistake of assuming that just because you run a small business or don’t collect payment information that your business is safe from hackers. There is a lot of private information available that hackers and thieves can use to make money from, and businesses small and large are targets. Be aware of vulnerabilities in your system and take the steps to address them, before it’s too late. Conduct… Read more
Here’s our recap summarising the key points from the 2022 Federal Budget delivered by Treasurer Josh Frydenberg this week. You can also have a read of This article summarising the “Winners and Losers” A Quick Overview Due to soaring fuel prices, the fuel excise tax will be cut in half, saving motorists 22 cents per litre. Low-and middle-income earners will receive an extra $420 back on their tax returns to… Read more
There are two important changes to SG Super to be aware of from 1 July 2022 1. Removal of the $450 per month threshold From 1 July 2022, employers in Australia will be required to make super guarantee contributions to their eligible employee’s super fund, regardless of how much the employee has been paid. Currently, employees need to earn a minimum of $450 per calendar month from an employer to… Read more
Pricing is the one of the most important strategic decisions that a business owner can make, and it’s one of the topics that I get asked about most frequently. With the right pricing strategy, jobs are profitable, staff provide a healthy revenue stream and ROI, we have financial freedom and a healthy work life balance, and we feel content, valued and excited by the opportunities we face. Sounds idyllic, doesn’t it?! On the flipside, the wrong pricing… Read more
Welcome back to our Business Update! Business Assistance Package for WA Businesses The Level 2 COVID-19 Business Assistance Package is available for businesses in Western Australia most impacted by restrictions. The assistance includes a $66.8 million Small Business Hardship Grants Program, $2.8 million of payroll tax relief for large hospitality businesses, and $2.1 million for a COVID-19 Commercial Sporting Franchises Support Program. COVID-19 Vaccine Claims Scheme The government is developing… Read more
Long-standing clients form the backbone of a strong, well-established business. And for anyone wanting to build real value in their practice, client retention is crucial. I have been fortunate in my own business when it comes to client retention and service many clients who have been with Bookwiz for over 15 years. In this article I am going to provide my top tips on how to build lasting relationships with… Read more
Welcome back to our Business Update Bookwiz News After our soft launch in November, Bookwiz Academy is now ready for our next member intake! If you are a Bookkeeper or Accountant, at any stage of business, come check out Bookwiz Academy HERE. We still have our Founding Members offer available. As a bonus, today we released our FREE Toolkit “The Three Things You Need toKnow to Attract and Win Your… Read more
After 20+ years in business I still find recruiting new team members to be one of the most challenging tasks. So much rides on having a productive, skilled and harmonious workforce, and I feel the pressure every time I step into R-mode. However, over the years I have fine tuned my recruitment process and turned something that I used to find incredibly stressful into something that I can now approach with more clarity and confidence. I admit, this… Read more
Welcome back to our Business Update! What’s been happening at Bookwiz? Welcome to our newest Team Member India! We would like to extend a warm welcome to our newest Bookwiz team member India. India has a number of experience working as a Bookkeeper and as an Accountant here in Perth, we know our clients are going to love her! Bookwiz Academy Back in November, we opened… Read more
The Australian government has made some important announcements over the past few months with regards to e-invoicing. In the 2021-22 Budget, the government committed $15.3 million to increase the adoption of e-invoicing, which guarantees accelerated payment terms. In this article, we will look deeper into what e-invoicing is and how any type of business can benefit from it. What is e-invoicing? Over 1.2 billion Business to Business (B2B) and Business… Read more
Welcome back to our Business Update! Merry Christmas from the Bookwiz Team! The Bookwiz Office will be closing to take a well deserved break with family and friends for the festive season from COB Wednesday 22nd December, and re-opening for normal business activities on 5th January 2022. If you are a payroll client of Bookwiz, we will still have team members around to ensure your employees will be paid. We… Read more
Welcome back to our Business Update! FBT Implications of Christmas Parties As the end of the year is fast approaching, businesses are getting ready for their Christmas party and are organising gifts for their staff. With this, it’s important to be aware of the fringe benefits tax (FBT) implications of these. Because there is no separate FBT category for Christmas parties, here are some ATO guidelines to keep you on… Read more
Welcome back to our Business Update FBT Implications of Christmas Parties As the end of the year is fast approaching, businesses are getting ready for their Christmas party and are organising gifts for their staff. With this, it’s important to be aware of the fringe benefits tax (FBT) implications of these. Because there is no separate FBT category for Christmas parties, here are some ATO guidelines to keep you on… Read more
I am very excited to announce that Bookwiz Academy has launched! I’ve been working in the background on this for some time now, and I’m so proud to have launched our Membership Program. I have created this platform to help Bookkeepers & Accountants organise, systematise and scale their businesses. By joining our membership, you’ll be receiving weekly content that includes: Monthly Insights – Personal insights from me on the lessons… Read more
I would like to share with you another one of our wonderful clients, Tony’s House of Tender Meats . I can personally vouch for the quality of meat and I have to say, Grant makes THE BEST sausages I have ever had! (not to mention he is THE NICEST guy!) Tony’s House of Tender Meats are an Artisan Butchery specialising in superior grade meat, personalised service, and expert advice. They butcher… Read more
Welcome back to our Business Update. Read on for the latest updates and some ideas to help us all move forward. Upcoming Key Dates for October 2021 Here are the upcoming key dates for the month of October: 28 Oct 2021 September quarter Super Guarantee due September quarterly BAS due September quarter PAYG instalment due Skills Shortage After 2 Years of Lockdowns After two years of stop-start lockdowns in the… Read more
Many entrepreneurs start their business with the goal of earning an income for themselves, but they often think of the business only in terms of them running it. In truth, there is a huge benefit to starting a business either with the goal of selling it or at least setting it up so it can be sold at some point in the future. You don’t have to plan on making… Read more
If you’re looking to grow your business, you might consider expanding your service offerings. Adding additional services is a good way to increase your profitability, diversify your income and expand your market. But there are important things to consider before adding to your income streams. Here are 4 important things to keep in mind when you consider adding to your services. 1. Does the expansion complement your business? The best… Read more
If you want your business to grow, at some point you’ll have to think about scaling it. Scaling it isn’t exactly the same as growing it, though they are often used interchangeably. Growth refers to adding resources and increasing your revenue in a linear fashion. You double your number of offices to double your number of customers, for example. Scaling means increasing your revenue without a substantial increase in the… Read more