Lever Group accounting news and tax updates

Taxation Services

We regularly deal with a broad range of personal and corporate taxation issues and make a point of understanding the individual needs of every client. Whether you need advice on company tax, personal tax effectiveness or indirect taxation including payroll tax and GST, our team will identify the best solutions for you.

Our taxation services include:

  • Preparation and lodgement of taxation returns
  • Capital gains taxation planning
  • Fringe benefits tax returns
  • Land tax returns
  • Payroll tax returns compliance
  • Tax planning and minimisation
  • PAYG and superannuation compliance

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Category: Business

  1. BUILDING A BETTER BUSINESS IN 10 EASY STEPS

    Posted on

    You’re in business, congratulations, that takes courage and commitment.

    It’s not easy, and at times you might question why you’re even doing it, particularly after the impact Covid-19 and the associated lockdowns had on business.

    But you’re here because you had a vision. You decided being in business was a better way to achieve that vision than working for someone else. And, you’re right; you just have to work on it.

    It's likely that you're an expert at what you do… maybe you’re a mechanic and know the inside of a car engine like the back of your hand. Or, maybe you’re a fashion retailer who can style anyone. This doesn’t mean you’re an expert at running your business though. It’s hard taking time out of working in your business to work on it. But doing this is essential for its success.

    There’s no magical overnight solution to building a more successful business. It’s about taking small steps every day to get a bit better than the day before.

    So, what should you do to build yourself a more successful business? We’ve broken it down into 10 essential steps:

    1. Get clear on exactly what it is that you want.

    2. Be open to change and new learning.

    3. Define where you are now (warts and all).

    4. Make a plan.

    5. Get your organisational structure right.

    6. Be a better leader.

    7. Be held accountable by someone independent.

    8. Build strong networks.

    9. Monitor your progress.

    10. Keep your well of happiness full.

    These are the 10 most important things you should be working on to ensure you achieve your goals. Small, incremental changes can have a massive effect on your success.

    We’re here to help you, every step of the way. Get in touch!

    “Success isn’t overnight. It’s when every day you get a little better than the day before. It all adds up.” - Dwayne ‘The Rock’ Johnson

  2. HOW DO YOU INVOICE DURING A CRISIS?

    Posted on

    It’s not easy to request payment right now, but it is important to keep cash flowing into your business so you can cover expenses and meet your obligations to others. As with all business dealings right now, a little empathy and a lot of open communication can go a long way.

    The following tips might be useful to keep in mind when you are asking for payment.

    Communication - Connecting with your customers is important. Try to make it personal to their situation rather than a one-size-fits-all email. Connecting on a more personal level shows you value them and are conscious of the impacts that the current situation may be having on them. The empathy you show now will also be remembered when business returns to normal. Be proactive - early communication will help you stay on top of cash flow and will also alert you, if you need to account for late payments.

    Add value - Use your expertise to give something back. Surprise and delight your customers by offering something over and above your usual services. It could be as simple letting customers know you want to help and being open to requests, offering a one-off discount or an offer just to chat one to one.

    Offer flexible payment options - for customers who can’t pay in full, consider breaking invoices into multiple payments with payment terms moved to a longer timeframe. Set up a credit card facility to give customers other options for payment. After all, the easier you can make it for them to pay you, the quicker you will get paid. If you don’t have payment services set up in your Xero account, we can help you do this. Offering a discount for early payment might provide the incentive for customers who can settle, to pay your invoice before others.

    Keeping cash flow going is vital for your business so the earlier you can communicate with customers the better.