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Should I make a voluntary payment towards my HECS / HELP debt?

Every year on 1 June, HECS/HELP debts are indexed. This means that the outstanding balance of the loan is adjusted in line with the Consumer

Understanding the concept of “Taking your profit first”

All too often here at Freshwater, we see small business owners exhausted, burned out, struggling with their cash flow, and working CRAZY hours – wondering why they bother. In most cases, these businesses have had some pretty decent initial success with fast initial turnover growth.

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The Importance of Knowing your Hourly Rate

Even if you’ve already set the hourly rate for your services, it’s important to be sure that this rate (across the hours that you have available to work ) is actually enough to make a profit. If you’ve been running your business for a number of years and you work long hours, both “on” and “in” your business – determining – and regularly tracking – your hourly rate is actually also a really interesting metric!

February 2024 Tax Update

This blog post will take you through a few of the recent updates and key points of discussion within Australian tax law at the moment. It is a good idea that taxpayers have at minimum a rough understanding of what is going on within our economy and how the tax laws are currently impacting you as an individual and our society as a whole.

Tax & Financial Considerations of a Divorce

Relationship breakdowns are stressful, (especially when kids are involved). Along with experiencing a wide range of emotions including fear, uncertainty for the future, anger, sadness,

Can the ATO Track your CRYPTO?

Cryptocurrency is a digital currency that, similar to physical cash, serves as a means of buying goods and services. It also presents an opportunity for investment, with people acquiring it for the aim of gaining financial returns. ⁠Cryptocurrencies and crypto assets comprise a range of digital assets utilising cryptographic techniques for digital security, coupled with distributed ledger technology for the permanent recording of transactions.

Managing your finances: Clever tips you may not have considered

A common challenge faced by a significant portion of our clientele, irrespective of their financial prosperity, revolves around establishing and sustaining an effective, transparent system for managing their finances. Apart from the exorbitant current cost of living, which can itself be disheartening, time constraints pose a significant hurdle for most of these days! Even our most accomplished clients, who have successfully expanded their businesses and achieved financial success, often find financial management to be tedious.

How to make MORE money – by working LESS…

I’m pretty sure that making as much money as possible – by working as little as possible is the dream (and a new year’s resolution) for all of us!

After all, time is the most valuable we have. It is finite, it moulds the essence of our existence and really, there is nothing more important that spending it happy, with loved ones, doing what we love.

So then, how do we free up our time – while making MORE money?

The Vital Role of a Reliable Team in Small Business Growth

2023 has been a year of significant growth for our small business, with some challenges, lessons, new friends, and lots of fun along the way.

Back when I started out in business in 2012, fresh from a full time employed job as an accountant in the Sydney CBD – I was immediately struck with the freedom that comes with running your own show.

Mastering Responsiveness: Strategies to Keep Your Inbox Under Control and your Clients Satisfied!

Now more than ever, effective communication is essential for success- especially if you’re running a business that operates predominantly online. Not only is it crucial that your customers feel confident that they can reach you easily, but it’s also important that you respond to your client’s queries in a timely manner.

Claiming R&D Tax Incentives in Australia

The R&D Tax Incentive extends a tax offset to eligible businesses engaged in research & development activities within Australia. The incentive is jointly managed by the Australian Taxation Office (ATO) and the Department of Industry, Science, Energy, and Resources (DISER).