KEY FINANCIAL TERMS

As a business owner, you need to understand your customer, the market and how to sell your product or service, you also have to learn a whole new language of financial terms, even worse, try to understand your accountant or business banker. Here are some important financial terms you’ll come across while running your business.

THE POWER OF CASH FLOW FORECASTS

At some point in its lifetime, every small business suffers from cash flow problems. The trick is to think ahead and figure out when these problems are going to arise, so you don't have to unexpectedly postpone a purchase or hurriedly seek out additional finance.

JOBKEEPER 2.0 – What you need to know

On 21 July 2020, the Prime Minister announced the extension of the JobKeeper program through to March 2021. Importantly, there are no changes to eligibility or payment levels for the period to the end of September 2020. Beyond that, a two tiered scheme will be introduced with separate levels of payments being made for full and part time workers. Further, the turnover test will be strengthened by requiring an actual reduction in turnover of 30%.

CRYPTOCURRENCY – WHAT YOU NEED TO KNOW FOR TAX PURPOSES

The tax treatment of cryptocurrency. Here is a short guide highlighting some of the most important points and considerations when investing in or purchasing a crypto currency.