East Partners Blog

Happy 2024!

As we step into the New Year, business owners often take stock of their progress and set sights on new goals for the upcoming year. These objectives might range from ambitious endeavors to tackling crucial yet seemingly ordinary projects. Whether […]

Merry Christmas from East Partners

Happy Christmas! We wish you a very happy Christmas and well deserved end-of-year break. We are grateful for the opportunity to work with you and be a part of your continued prosperity. It has been another year of hard work […]

10 steps to achieving balance this holiday break

It’s that time of year again when most of us are winding down and heading off for a well deserved break. Here’s our daily top 10 things to help you maximise your holiday! Every day strive for: 1 hour of […]

Boost Your Small Business’s Holiday Cash Flow

As the Christmas holiday season approaches, small businesses often face a challenging time where expenses persist while debtors take time off. Is your business prepared financially for this period? To ensure a stress-free holiday, consider proactive measures to manage your […]

Unresolved Tax Payments? ATO Alerts on Disclosure to Credit Reporting Agencies

The ATO’s attention has shifted from aiding businesses during the pandemic to reinforcing the importance of timely tax payments. Starting July 2023, the ATO has alerted over 22,000 businesses about its intent to disclose tax debts exceeding $100,000 and overdue […]

Where does the money go within your business?

Lots of small businesses hit rough patches with cash flow now and then, needing cash ASAP. When owners run low, they often think of hitting up the bank or getting a loan. But before diving into expensive options like overdrafts, […]

Inherited Property and Capital Gains Tax: What You Need to Know

Understanding how capital gains taxes (CGT) work in the context of inherited estates can be tricky. Typically, CGT events occur when ownership of an asset changes hands. However, in the case of deceased estates, the CGT event is recognized on […]

Fostering Positive Business Habits: A Guide

For many small business owners, the clock always seems to tick faster than the tasks on their list. There’s a constant juggle between immediate needs—like dealing with customers, meeting deadlines, or attending events—and the crucial activities that foster ongoing business […]

Overcoming Cash Flow Hurdles: Effective Strategies

In case you haven’t been aware of the recent high inflation rates impacting business costs, let’s get you up to speed. There are solutions to unlock funds without disrupting your operational capabilities. Here are some suggestions: Debtors Many businesses unknowingly […]

Unlocking Your Business’s Growth Potential

Expansion always brings risks, but a smart strategy can pave the way for stability, security, and enduring profitability. When it comes to growing your business, there’s not always a need to borrow money. Your internal resources might surprise you by […]

Understanding your numbers to improve your results

Understanding your financial reports, or knowing your numbers, is critical to business success. It allows you to make better business decisions, measure the impact of those decisions, take corrective action where necessary and, ultimately, enjoy better results. By understanding your […]

Four common mistakes with rental property deductions

While it is not uncommon to make some mistakes when claiming rental property deductions, it is important for investors to get their expense claims right to avoid facing potentially harsh penalties.  

Should you lease or buy equipment?

Many small business people wonder whether it’s better for them to buy or lease capital equipment for their businesses. Your options regarding leasing or buying depend upon the nature of your particular business, but there are nevertheless a few guidelines […]

4 questions you should ask your accountant

Ideally, you and your accountant are more than just “adviser” and “client”. With your combined skills, expertise, and shared mission to support a thriving business, you’re more like strategic partners. The key to achieving success in any partnership is, of […]

Demystifying your Balance Sheet

Do you understand the story your Balance Sheet tells about your business? It’s important you understand the components of your Balance Sheet and the key ratios that measure the health of your business.

How do I read my Profit and Loss Statement?

Understanding your numbers is critical if you want to control your business (instead of your business controlling you). Financial reports indicate whether your business is in good or poor health and can diagnose weaknesses before something becomes terminal. Let’s break […]

Getting your BAS right

Some small businesses make simple mistakes; others just don’t provide the right information.  Make sure your business is not caught out by completing your Business Activity Statement correctly.

Is there GST payable on sale of my property?

When selling a property registered for GST, the margin scheme can be used as an alternative way to work out the GST payable on a concessional basis.

Work related expenses under the microscope

Don’t get caught out by the ATO when lodging your work-related expense claim this financial year.

How much super do you need to retire?

Figuring out how much money you need to save for retirement can be a real headache for many folks getting ready to retire. The ups and downs of the market and unpredictable superannuation balances only make it more uncertain. Here’s […]