Super is generally one of the most considerable assets we have. Yet, we see many individuals (including SME business owners) who see superannuation as just a ‘compliance requirement’ – instead of the immense opportunity it can be. Making voluntary superannuation contributions can help you plan for your retirement and minimise your taxes (amongst other things). […]

Are you still using pen and paper for all your budgets, payslips, and inventorymanagement? Or maybe you’re still using Excel or Google Docs? Even the latter isconsidered superfluous now that you can advance your accounting and bookkeepingneeds with cloud based, online bookkeeping software.Worried about how you’ll make the switch? Don’t be. Why is cloud accounting […]

It was tax planning season 12 weeks ago – and personally, our favourite time of year as we like to save you money. BUT, why wait to May or June next year, when you can be doing things NOW when it comes to tax savings in the lead up to 30 June 2023?  ‍What is […]

In our day to day work here at Larkin Partners, we’ve noticed that people’s default report when it comes to knowing their numbers is their Profit & Loss. Profit & Loss is, of course, a critical indicator of your business’ health, but if cash is king- and spoiler alert, it is – then your cashflow […]

Of course being prepared for EOFY is very important for ensuring you make the best of your business’ tax return. But, here’s something to think about ……..Would you skip a visit to your dentist and remove your own infected molar? It’s not unusual for business owners to be uncertain around their financials. So, with end […]

With the Australia Federal Budget having been delivered, we thought we’d help out with some of the terminology they used in the news cycles, and we thought how appropriate it might be that we define some common accounting terms that may be useful for you in your everyday business life, as well as when we […]

In those good old days of accounting, keying in manual bank statements, reconciling cashbooks, printed workpapers all filed in a manilla folder; nice and neat, real old school. This generally meant that no matter how hard the Larkin Partner team worked, we were behind and struggled to get our client files done. It was a […]

Many small business owners are finding it increasingly difficult to manage their debtors. With payment times in Australia being some of the longest in the world, it’s more important than ever for small business owners to take proactive steps to protect their cashflow. But, let’s be honest, no one likes making those phone calls. So, […]

Why should you, as an employer, lodge an FBT return where no FBT is payable? For the simple reason that it turns on the three-year deadline for the ATO to commence audit activities on your business. Examples of fringe benefits include: allowing an employee to use a work car for private purposes giving an employee […]

We’ve been supporting SMEs for over 25 years now and knowing the importance of having one eye on profitability at all times, we want to give our clients some strategies around where they’re making money – and where they may not be – with the following insights around project management. 1. Use your past data […]