As expected, directors’ penalties are extended to unpaid superannuation guarantee and unpaid PAYG. No longer can directors avoid penalties by placing companies into administration or liquidation when PAYG or superannuation guarantees remain unpaid and unreported after a due date. Read More
The Australian Tax Office (ATO) will henceforth function more openly and with greater transparency to the benefit of small business. Such is the undertaking given by newly appointed ATO Commissioner Chris Jordan to a recent so-called SME Summit. He said that as a result of ongoing reviews of interaction between the tax office and owners of SMEs, it was planned to consolidate “a huge amount of correspondence” by putting masses of information – including requirements – online. Read More
Australia’s wine industry has been an extraordinary success story of export initiatives and globally competitive quality. However its sustainability is of mounting concern. Accordingly the Winemakers’ Federation of Australia (WFA), with funding support from the Wolf Blass Foundation and the Grape and Wine Research and Development Corporation has circulated a plan throughout the industry to restore profitability and asset value. Consultation on, and an expert review of the plan’s 33 recommended actions, will conclude on 18 October. Read More
Access to the various social media platforms is free, so the utilisation game for all companies starts on a level playing field. Because they’re not hamstrung by the layers of approval inherent in large corporations, big impacts on targeted potential customers can be made on small budgets. SMEs can move swiftly from concept to action with social media campaigns. But all face a common challenge to decide whether social media will in fact benefit their business, and if benefit is perceived, how best to realise it. Read More
A time bomb that threatens the economy as a whole is ticking in the SME sector, which accounts for 70% of all private sector employees. Read More
There are diverse ways for your company to be in financial difficulty. You may have been the cause or you may not. What’s vital now is that you recognise you have a dangerous problem and choose to do something about it while it’s possible; not only to make a choice, but to make the choice that’s best for you in your particular circumstances Read More
