The Money Blog
Useful and relevant information you can implement in your business and personal finances today.
How to embrace neurodiversity in your team
People come in all shapes and sizes – and this applies equally to how our brains work. Research in neurodiversity has shown that we all think in different ways, and that there’s no single ‘hard-wired’ way for our brains to work. This diversity can be a major asset,...
Some common things businesses forget at tax time
Running a business is a demanding job, so it’s no wonder owners lose track of crucial things at tax time, such as: Deducting entertainment expenses Dinner and lunch meetings with clients and customers are partially tax deductible. Keep your receipts and check in with...
Minimum wage increases to $23.15 per hour
The Workplace Relations and Safety Minister has announced that the adult minimum wage will be rising to $23.15 per hour from 1 April 2024. - a 2% increase from the current hourly rate of $22.70. Brooke van Velden had initially proposed a 1.3% increase, while the...
Review your business expenses – and save
Running a business costs money. There are always costs, overheads and supplier bills that mount up – and these expenses will gradually chip away at your cash position, making it more difficult to grow and make a profit. So, what can you do to reduce your spend levels?...
Which business expenses can you claim against tax?
Incurring expenses is an unavoidable fact of running a business. But which expenses can you claim tax deductions against and which don’t meet the tax-free criteria? Here’s our lowdown on which expenses you can claim against tax. Which business expenses can you claim...
Setting goals for you and your business in 2024
The new year is a new beginning. If you are a business owner, this is often the time of year when you reflect on where you are at and think about your business goals for the year ahead. Setting goals is an essential part of personal and professional growth. These...
Plain English guide to profit and loss
Here's our Plain English guide to profit and loss and what this report reveals about your finances. What is profit and loss? Your profit and loss statement is commonly called your ‘P&L’. It’s also sometimes referred to as your income statement or statement of...
Preparing your business for a sale
Selling your business is a big move for any owner. You’ve built this company up, scaled it and put years of hard work into making the business a success story. So, when the time comes to sell, you’ll want to know that you’re getting the best price, and the best future...
5 things to know when you’re applying for a home loan
Thinking of applying for a home loan? Here are some tips to help you prepare an application that’s more likely to be approved. You may need to go on a financial diet before you apply - When you apply for a mortgage, a bank will typically analyse the statements for all...
Plain English guide to cashflow
Why is cashflow so central to good financial management? Here's our plain English guide. What is cashflow? Cashflow refers to the movement of money into and out of your business over a specific period. In the most basic terms, cashflow is the process of cash moving...
Budgets are boring – 5 ways to spend less without budgeting
If you hate budgets and budgeting, how can you easily cut your spending? Here are five ways to save without tracking every transaction: Review your subscriptions - Your fixed outgoings are the easiest way to cut back: big outgoings like your insurance, power, phone...