Economic Challenges: A Guide for Small Businesses
Adapting to Economic Challenges: A Guide for Small Businesses In light of recent economic developments, we at DJ Grigg Financial want to provide you with the necessary insights and support to navigate these challenging times. Many small businesses are currently facing significant risks due to economic challenges, and it’s crucial to address these issues proactively. […]
Superannuation Rate Rises in July to 11.5%
Superannuation Rate Rises in July to 11.5% In July 2024, the superannuation guarantee statutory rate rises to 11.5%. Annually, the rate is increasing by 0.5% until July 2025, when it will reach the legislated 12%. Prepare Now for the July Rate Rise If you’d like help reviewing payroll costs and employee agreements, talk to us […]
Truck Drivers Expenses: Understanding Reasonable Costs
Understanding Reasonable Expenses for Employee Truck Drivers Employee truck drivers often face unique challenges when it comes to claiming deductions for work-related travel expenses. The Australian Taxation Office (ATO) provides guidelines on what constitutes “reasonable amounts” for domestic travel expenses. This is particularly relevant for truck drivers who spend significant amounts of time on the […]
Well-being in the Workplace
A Guide to Promoting Mental Well-being in the Workplace: Resources and Strategies for Employers Supporting and promoting health and well-being in the workplace is essential for staff and business owners alike. Providing a physically and mentally healthy workplace is beneficial for all who work there, as it reduces staff absenteeism, increases productivity, and makes the […]
Wage Deductions: Understanding What’s Acceptable
Understanding Wage Deductions: When is it Acceptable? Are you an employer in Australia wondering about wage deductions? Understanding when it is acceptable to deduct wages can be a complex issue. Wage deductions are generally only permitted in specific circumstances, such as to recover an overpayment or for a legitimate and authorised purpose. In this article, […]
What Determines Your Business Worth?
What Determines Your Business Worth? For small business owners, their business often represents their largest asset and a key component of their retirement plans. But have you ever wondered how much your business is really worth? Understanding the factors that contribute to your business’s value can be crucial, whether you’re planning to sell in the […]
Boosting Small Business Productivity
Boosting Small Business Productivity: Insights and Strategies In this dynamic world where every decision counts, finding ways to boost small business productivity can be a game-changer. If you’re aiming to boost profits, lower costs, or invest more in your staff, elevating productivity might just be the answer. But what exactly is productivity, and how can […]
‘P’ is for Purpose not Profit
‘P’ is for Purpose not Profit: Understanding Your Business’s Purpose When you start a business, it’s crucial to know why it exists. It’s not just about making profit; it’s about why your customers need you – your purpose. You should be able to sum up your business’s purpose in a short, powerful sentence that explains […]
Cryptocurrency Taxation: Unraveling Australia’s Laws
Decoding Cryptocurrency Taxation: Unraveling Australia’s Tax Laws Cryptocurrency has become increasingly popular in recent years, with more and more people investing in digital assets like Bitcoin and Ethereum. However, with this rise in popularity comes the sometimes confusing world of cryptocurrency taxation. In Australia, the taxation of cryptocurrencies is a complex issue that many individuals […]