News and Insights

Business benchmarking compares your key financial ratios against those of comparable businesses. Instead of looking at raw dollars, it looks at relationships. For example, your cost of sales as a percentage of turnover, your total expenses against income, or your wages as a share of revenue.

From a cash flow management perspective, this is not unusual in the current environment. It is rarely one issue. More often, it is a combination of small structural factors that are now having a greater impact.

Understanding when to review your structure can help you make clearer, more confident decisions about the future of your business.

Understanding when to review your structure can help you make clearer, more confident decisions about the future of your business.

Understanding when to review your structure can help you make clearer, more confident decisions about the future of your business.

Many Australian business owners describe the same feeling. The business is moving, there is work coming in, and yet there is still a constant sense of uncertainty sitting in the background.

This is one of the most common questions business owners across Australia search for and quietly wonder about. It usually comes up when things start to feel a little heavier than they used to.

The short answer is yes, but probably not just for tax returns and compliance.

As the year wraps up, it is a great time to pause for a moment and make sure your business is set up for a strong start to the next financial phase. It does not need to be complicated. A simple checklist can help you clean things up, get clear on where you stand and make the next few months feel a whole lot easier.

This article explains when the cost of work-related clothing is tax deductible under strict ATO guidelines, covering occupation-specific clothing, compulsory and registered non-compulsory uniforms, protective items, associated laundry and repair costs, and how clothing allowances are treated for tax purposes.