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Employing Staff: Superannuation Guarantee

As an employer, you must make superannuation contributions for each of your eligible employees under SG law, introduced from 1 July 1992. Currently the minimum employer contribution is 9.5% of an employee’s ‘ordinary time earnings’. The 9.5% is not payable on

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Employee PAYG Withholding Tax

Employing Staff: PAYG Withholding & Payroll Tax

Managing the TAX that you need to withhold and pay on behalf of your Employees can be a daunting prospect, understanding them is the first step.  The two main taxes employers must be aware of are PAYGW (pay as you

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Employee Pay and Entitlements

Employing Staff: Minimum Wages & Entitlements

Once you have determined the NATURE of the engagement of the individual as an employee, you need to understand your obligations and their rights under the National Employment Standards & your relevant Industry Award. The FairWork website has a fantastic

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Employing Staff

Employing Staff: An Overview of Your Responsibilities as an Employer

  As an Employer, it is crucial for you to understand employment-related legislations and your obligations surrounding the engagement of people to work within your business (employing staff). There are taxes, minimum pay, annual leave, maternity leave, superannuation and employee rights

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Understanding Profit vs Cashflow

Profit v’s Cashflow

So…if I made a Profit, why isn’t there any Cash in the Bank? This is not an uncommon question to be asked in our industry, and more recently, the struggles of small business in our current economy are bringing this

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Gross Profits

Gross Profit and Operating Profit Margins

Gross Profit vs Net Profit Gross Profit is your sales revenue (income) less the direct expenses (cost of goods sold) of your business.  Cost of goods sold are those costs related directly to the production, distribution or provision of products and

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Net Profit

Net Profit and Net Profit Margins

“Beware of little expenses; a small leak will sink a great ship.” – Benjamin Franklin “Profit is the financial benefit that is realised when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed

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What are KPIs?

KPIs sound like one of those fancy, abbreviated terms that are thrown around by graduates and CFO’s in the corporate world and appear to have little or no relevance to a small business in the ‘real world’. Key Performance Indicators

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MMBS Xero Cloud Bookkeepers

It’s Simply Business in the Cloud

Reading through some online articles this morning really had me shaking my head a little at the confusion over the concept of a cloud-based practice, and what operating within the cloud ecosystem entails. The cloud systems we use in our

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Employing Staff

Square for Small Retail & Hospitality POS

  Square has been taking the retail world by storm over the last few years and it’s not hard to see why. When it comes to point of sale and card payment processing for small businesses, Square has firmly established

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