I recently had a meeting with a client who hasn’t increased the price of their products for three years. As a consumer, I would love to see this approach across a range of my regular hangouts, but as his accountant, I felt quite the opposite. Many small business owners are concerned of the implications to … More Why You Should Review Your Pricing Model
When it comes to our client’s financial journey, some are focused on the wrong areas to ensure continual growth and can waste resource and energy in the process. Are they wrong? Absolutely not. What they are doing is simply misidentifying their end goal and learning how they can work with their accountant and financial planner … More Am I paying my accountant and financial planner for what they’re worth?
You have been working hard on turning a spark of idea into a functioning business. Like other entrepreneurs you are very proud of it like a parent being proud of his/her child. Behind all these years and months, you know how much you have been putting into it without getting paid. Now you are running … More 5 Points to Consider before Paying Yourself
As a part of normal business operations, the cost of handover and training new staff always seems unavoidable. It can cost a business owner losing an entire month profit if it goes to the wrong direction. Here are some ideas that maybe helpful to smooth this process instead of costing you an arm and leg. … More 5 Things Should Never Be Overlooked during a Staff Handover
Under the current lockdowns, businesses embracing e-commerce are thriving. Many small businesses try to catch the opportunities and set up online shops using Paypal, Shopify, Ebay, Kickstarter and Amazon. The last thing you want to ignore is the tax implications and set up the GST correctly on these apps. If you sell goods and service … More 6 GST Setting Tips in Shopify
How long do we have to live with the unpredictable lockdowns and cancellations due to the pandemic? I am afraid the answer is quite a while. As your accountant, we need to know the economy environment and trading conditions to help your business. Although we don’t have the crystal ball, neither are we any expert … More There is No Return
We found ourselves recently explain one topic too much – The first home super saver scheme (FHSSS). It is the best that it is put down in the following order for you to start taking actions and take advantage of it. Understand if you are eligible. Go to this page and have a brief read … More 9 Suggested Steps of First Home Super Saver Scheme
Registrations are open for the JobMaker Hiring Credit scheme. The Australian government scheme is to provide eligible employers an incentive to employ additional employees aged between 16 – 35 years old. It is available to eligible employers for each new job created between 7 October 2020 and 6 October 2021 for which they employ an … More JobMaker Hiring Credit scheme
As we approach the tail end of what has been an unprecedented and disruptive 2020 year with the Covid-19 pandemic, this article is for you to ensure your emotional mindset as a business owner is doing good more than harm. Often what holds us back is whether you have an abundant mindset or poverty mindset. … More Manifesting an Abundant Mindset
Tune in to what Meng from MyC Accountants had to say about the recent Australian Federal Budget 2020-2021. Click here to view the budget highlights video.