East Partners Blog

Contractor or employee? How to get it right

When is a worker an independent contractor or an employee? Plenty of people ask this question as it can expose businesses and individuals to significant risk and costs under tax and employment law.

Can Your Business Claim the Loss Carry Back Tax Offset?

As part of the Federal Budget 2020-21, the government announced a loss carry back measure to encourage new investment and work with the temporary asset expensing measures also announced at the budget.

Getting back to business

It goes without saying that change has been a theme of late. Much of the change we’ve experienced has been out of our control. However, if we focus on what we can control, such as our response to change, we can regain some control and plan to maximise outcomes.

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.

Don’t neglect your Balance Sheet

Business owners tend to focus on increasing profit and driving down costs. While this is important, you must not neglect your Balance Sheet. Profitable businesses can and do go broke; your Balance Sheet is a key indicator of how solvent your business is. Here are four key areas of your Balance […]

How to prepare your personal budget

A personal budget is a finance plan that allocates future personal income towards expenses, savings and debt repayments. In other words, it’s a plan that sets out how you’ll spend and save your money. Some people hear the words ‘Personal Budget’ and think restriction, limitation and confinement. They imagine having to […]

Staying on track with your personal budget

You’ve taken the first step and developed your personal budget for the year. However, don’t set and forget and then expect to achieve your personal finance goals! If you don’t monitor your progress, your spending habits are unlikely to change. So, what steps can you take to ensure you’re on track […]

The obvious and unexpected benefits of having a personal budget

Having a personal budget is essential to gaining control of your personal finances. Budgeting doesn’t necessarily mean restriction; it frees up your money, so you know exactly what’s available to spend.

Maximising your cash reserves

The Covid-19 crisis has highlighted the inadequacy of current cash reserves for many businesses. They simply don’t have enough cash to sustain the business in a crisis. Now is the time to make permanent change to your business processes and cost structure so you can build those reserves. At the same […]

Improve debtor days to help cashflow recovery

In a slower moving economy, it’s more important than ever to stay on top of your debt collection. Establishing how long it takes you to get paid is the first step, but how can you measure this?

Understanding working capital to maintain business success

If cashflow is the lifeblood of your business, then working capital is the health check you should regularly undertake to keep your business alive. Regularly checking working capital will play an essential part in maintaining business success during these times of greater economic insecurity.

Shortening your working capital cycle to free up cash

The impact of Covid-19 has shown us that even profitable businesses can go broke if they run out of cash. Understanding and managing your working capital cycle frees up your cash and helps you build a cash war chest to get you through tougher times. Your working capital cycle is the […]