OMNIBUSiness COVID-19 Summary Edition
What unprecedented times we’re living in! As soon as we think we’re on top of coronavirus, things change and don’t they change fast? The effect of COVID-19 is having a massive financial impact on all of us in some way and we fear that the impact of the virus will have an even greater impact […]
Cash in hand payments no longer deductible
‘Cash in hand’ payments to workers no longer tax deductible The ATO has reminded employers that any ‘cash in hand’ payments made to workers from 1 July 2019 will not be tax deductible. ‘Cash in hand’ refers to cash payments to employees that do not comply with pay as you go (‘PAYG’) withholding obligations. Payments […]
ATO cash economy
Continued focus on the cash economy ATO Assistant Commissioner Peter Holt has announced that, in the 2019/20 financial year, the ATO will be visiting a further 10,000 small businesses across the country. He further said that businesses that advertise as ‘cash only’ and businesses that are operating outside of the ATO’s performance benchmarks for their […]
Cashless society
Is cash set to become a thing of the past? Some financial professionals are predicting Australians could be living in a cashless society in less than a decade. What does the potential death of cash mean for you personally and for Australian society as a whole? We explore the current trends in consumer payment behaviour […]
Legal practice management case study
Boutique law firm benefits from Omnis advice Perth’s Glen McLeod Legal is a planning and environmental law practice that provides authoritative and strategic advice and conducts significant litigation for clients in the Supreme Court, Magistrates Court, State Administrative Tribunal and commercial arbitration. Their highly specialised team provides legal advice on planning and environmental law, in […]
From the desk of the Managing Director, Justin Flavel
What a financial year we’ve just had! From movement within the Omnis Group team (including a new baby) to developing new services for our clients and raising our accounting profile nationally, we’ve been going like the clappers. You’ve probably heard many business owners lamenting that this year is moving along way too fast, us included. […]
Small business tax tips
Tax time tips for small business The ATO claims that it is committed to supporting small businesses and making it as easy as possible for them to understand and meet their tax obligations at tax time. Consequently, Assistant Commissioner Mathew Umina has some tips to help small business in the lead up to and during […]
Making the most of managed funds
When people consider investing, many think about buying a house or shares. However, you may be better off pooling your money and using a managed fund to achieve your financial goals. Pooling power If you simply use your own money to invest you are limited in how broadly you can spread your investment. For instance, […]
Successful ventures don’t operate in the dark
Turn the lights on with Omnis Group and Spotlight Reporting Combining our expert advice with the visibility and clarity of Spotlight Reporting’s award-winning mix of performance reports, trend analysis and charts, we can help you to see the way forward and give you the competitive edge your business needs to be successful. The Omnis Group team is ready […]
Cash is king, cloud-style
We all know that cash is the lifeblood of a business Every year in most major economies, tens of thousands of businesses fail or are in acute distress. Even good businesses sailing too close to the wind can fail, often unexpectedly and with alarming speed. Without cash and liquidity, eventually a good business will be […]
