Entries by AFS Bendigo

Client update | December 2019

December is here which marks the official start to summer, unfortunately we are already seeing the devastating impacts of the bushfire season. We would like to take this opportunity to express our heartfelt thanks to the firefighters, emergency services personnel and community members who have been working tirelessly to save lives and property.

Get some wins on the board with effective business reporting

Businesses often fall short of their goals because they don’t understand how to acquire and interpret data. Some cling to outdated reports that don’t reflect the contemporary market, some get bogged down in so much information that it becomes meaningless and others don’t report at all, preferring to rely on instinct.

Tips for landlords to avoid common tax errors

The Australian Taxation Office (ATO) has provided its top tips to assist rental property owners in avoiding the most common tax errors made by landlords. Regardless of whether you lodge your tax return yourself or use a tax agent, the ATO says following these tips to avoid common mistakes will save you on both time […]

How does your business compare?

Small to medium businesses are being warned to check the Australian Taxation Office (ATO) business benchmarks when completing their tax or business activity statements. Whilst the benchmarks are there for a guide, those operating outside of the figures should have all records to validate their claims.

Profit is not a dirty word – NFP Principles

“There is a perception among some NFPs that they should not set and achieve ambitious profit goals because this may be viewed poorly by stakeholders. However, aiming to achieve long-term financial sustainability should be a core goal of all organisations.” The Australian Institute of Company Directors (AICD) issued a refreshed Not-for-Profit Governance Principles earlier this […]

Finding safe harbour when business is rough

Australia’s economy is growing at a slower pace than many would like, with small businesses in some sectors doing it tough. Recognising the warning signs of potential insolvency is key to trading through difficult times.