The Prime Minister has pledged to cut government red tape to encourage investments and open opportunities to industrial relations reform. The government’s plans to overhaul the vocational training system will particularly interest restaurants, cafés and catering companies because like businesses in other industry sectors, they are struggling with skill shortages – a problem which was …
Time theft occurs when an employer pays an employee for time that they weren’t actually at work. Time theft is on the rise because of today’s increasing mobile workforce and it’s costing employers billions of dollars in lost productivity yearly. When does time theft occur? It is common for employees to round down their minutes …
Wages in the hospitality industry has become a national issue due to the underpayment of staff at many Australian restaurants and cafés, according to hospitality bookkeeping and accounting firms. Some think charging offenders with fines are letting them off too lightly. The government is now considering criminalising wage theft. Restaurant and café owners say that some breaches …
In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest. Low & Middle Income Tax Offset (LMITO) Now Law On the 4th of July, the legislation to give effect to the previously announced LMITO was passed just in time for tax time …
Several new incentive payments for employers and apprentices, which were announced in the Budget during the federal election campaign, take effect this month. Talk to your accounting and bookkeeping firm to find out how you can take advantage of this. The Government is creating additional apprenticeship incentive payments to boost the existing incentives for areas of identified …
In the past there was no set way in presenting the annual financial statements but due to the manipulation by some in the industry, to mislead investors by manipulating the financial information, changes were desperately needed. The government stepped in and implemented a set of uniform Accounting Standards – principles of which govern business accounting services as …
The hospitality industry will need about 123,000 more employees in 2020 but according to a consultant for hotel industry, businesses are having a hard time meeting even the current demand because of the lack of trained staff in many parts of Australia. It is an issue that needs to be addressed in cities and more …
Small business and startup owners are often unsure whether they need a CFO or not. After all, how can a CFO add value to a young company? There is a perception that CFOs are expensive and are for billion-dollar corporations only. However, the truth is, financial accountants and bookkeepers Melbourne can add a significant amount …
Working capital is the capital that a company needs to fund its everyday financial obligations such as stock replenishments, salaries, and utility or maintenance costs. These finances are required to run a business successfully, but new businesses may find it difficult to establish a steady cash flow at the beginning. Because of this, businesses need …
Many small businesses are not yet aware of the good news coming their way. Small business customers will actually face lower prices and clearer energy bills starting July; however, if they do not manage their bookkeeping and accounting properly, they may not notice the difference and lose the opportunity to use these savings for something …
