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Third Instalment of the Stimulus Package

Third Instalment of the Stimulus Package

JobKeeper Package! On 30th March 2020, the Government announced their 3rd instalment to the COVID-19 stimulus package. The JobKeeper payment is intended to provide wage subsidies to businesses that are significantly affected by the Coronavirus, and will cost a total of $130 billion over 6 months. The Morrison Government will provide a historic wage subsidy to around 6 million...

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Second Stimulus Package- Everything you need to know

Second Stimulus Package- Everything you need to know

What a difference a week makes! Since the initial economic stimulus response announced last Thursday, 12 March, the government has announced extra support to combat the economic consequences of the increased social distancing rules. It is going to be a rough ride for all of us SMEs, so Clear Path Accounting will be working overtime to ensure that we are supporting all of our...

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2020 Caronavirus Stimulus Package

2020 Caronavirus Stimulus Package

The Coronavirus Stimulus Package.   The Government's decisive action to introduce a stimulus package to combat the economic effects of the coronavirus is important for our local buisnesses to understand. The government's $17.6bn stimulus package will directly benefit welfare recipients, small and medium businesses and tourism and other virus-hit businesses to help stave...

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Grow your Business using 7 Key Business Drivers

Grow your Business using 7 Key Business Drivers

What do you want for your business in 2020? If it is growth and an increase in revenue and profit then now is the time to make a commitment, a new year’s resolution even, to look at the 7 key drivers that will guarantee success in your business. If you haven’t ever asked yourself what drives your business, never fear. Start taking notes here. There are 7 key drivers; 1. Number...

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How Bespoke Accounting Firms are a Better Fit

How Bespoke Accounting Firms are a Better Fit

Should you Engage a Large or Small Accounting Firm? Barefoot Investor extraordinaire Scott Pape, made a powerful point in his latest Scott’s Inner Circle publication. While talking about how to build your barefoot board (an entourage of people with whom you trust in business), he said that finding good advice comes down to just three things; Talent - People who are good at...

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How Do You Know if Your Accountant is ‘The One’?

How Do You Know if Your Accountant is ‘The One’?

Your relationship with your accountant is everything. I once heard a lady speak at an awards evening, telling the audience that at times she would sit on the floor of her office and cry because she felt like she couldn't continue with her struggling business and because she felt totally alone.   I really wanted to say to her, go and get yourself a great accountant, not a good...

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Are you familiar with cloud-based accounting software?

Are you familiar with cloud-based accounting software?

Cloud-based accounting software is essential to understand the critical numbers of your business. This month I want to get you up to speed on a tool that could make your life a whole lot easier. Cloud-based accounting software is software that is on a remote server, rather than your computer or a hard drive. The software offers many benefits, the most attractive being that...

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5 Ways to Improve Small Business Cash Flow

5 Ways to Improve Small Business Cash Flow

As they say, “cash is king”. Cash flow improvement is the centre of business life. Cash flow is the difference between inflows and outflows. Income is not counted until received and expenses are not calculated until paid. Cash flow also includes infusions from investment and financing activities. Speeding up the inflows, slowing down the outflows, and increasing the cashflow...

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Why setting business goals is a recipe for success

Why setting business goals is a recipe for success

Successful entrepreneurs set and monitor business goals. Goals are a powerful way to clarify the purpose of your business and help identify necessary actions. In my experience, few small business owners keep track of their business goals. The importance of setting goals is to help you make better decisions. It will help you move away from the habit of making business decisions...

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7 things to know about ATO tax debt payment arrangements

7 things to know about ATO tax debt payment arrangements

If you have any type of tax debt or overdue return, the secret to keeping the ATO at bay is communication! The ATO is a very powerful creditor, so demands careful handling and negotiation. Do not ignore tax debt notifications. Although they are confronting, these notifications are a forewarning of pending debt collection action. The most important first step is to let the...

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