Centrelink Deeming Rates to Change

by Christie Lewis on March 10, 2010

As the economy recovers from the global economic crisis, rates of return on investments are also beginning to increase.

As a result, the deeming rates, which are used to assess income from a range of financial investments held by pensioners and other income support recipients, will also increase on 20 March from the record low levels during the global economic crisis.

The lower deeming rate will increase from two per cent to three per cent for financial investments up to $42,000 for single pensioners or $70,000 for a couple. [click to continue…]

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Pensions To Increase Later This Month

March 10, 2010

Approx. 4 million Australians will receive an increase in their pensions and other income support payments from 20 March due to indexation.
Pension payments will increase by $29.20 a fortnight for singles on the maximum rate, and $44.00 a fortnight for couples combined on the maximum rate.
Following these increases, total pension payments for those on the maximum rate, [...]

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Enterprise Connect Grants

March 8, 2010

The Australian Government Enterprise Connect Program provides support to eligible SMEs, including business reviews conducted by an Enterprise Connect Business Advisor. For eligible businesses there is no charge for this review which can take up to 3 days. If the business is admitted to the Enterprise Connect Program, the Government will assist in appointing an [...]

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Cost of Goods Sold (COGS) means….

March 8, 2010

Cost of Goods Sold means…
The amount calculated in a trading and profit and loss account to represent the cost of the goods that where sold during an accounting period. Eg one month.

COGS enables you to discover your Gross Profit.

WHAT’S IT MEAN? Quickies
This post is part of the “What’s it Mean?” series of short and sweet [...]

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What do your customers really think?

March 6, 2010

As more and more small business owners are using customer advisory meetings to gather valuable data, it’s time we had a look at what they are. The purpose of these meetings is to obtain feedback from a group of customers on the products, services, sales process and general impression of your business.
You can organise the customer [...]

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Business Plans – Some Questions To Consider – Part 17

March 5, 2010

Packaging

Is labelling in accordance with Government Regulations?
Is the packaging consistently incorporating your corporate logos?
Is the packaging appropriate for your corporate image?
Are your customers happy with the packaging?
Have you market-tested the packaging, especially in foreign markets?
How well does the packaging travel?
Have you ever inspected your packaging after it has been in the mail/freight distribution system?

Business Plans [...]

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Lifetime Value Of A Customer

March 4, 2010

Most businesses need to ensure that there is ongoing education of their team on the lifetime value of a new customer.
Lifetime customers represent repeat business and repeat business equals profits.
If you assume that the lifetime period of a customer is between 7 to 10 years on average; multiply the average sale by the number of [...]

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Customer Service for Small Business

March 3, 2010

Most experienced small business operators understand that keeping clients happy and building up business through referrals is crucial. If they didn’t, they probably wouldn’t have been around long enough to become “experienced small business operators”. Most prospering & profitable small businesses have something in common – their operators understand that customer service is the key [...]

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Gross Profit means…

March 2, 2010

Gross Profit means…
The difference between Sales and Cost of Goods Sold.
For instance, if I bought a widget for $2.00 and sold it for $5.00, my Gross Profit would be $3.00. Of course, I’d need to look at my Net Profits to know if I’m actually making any money in my widget business.

WHAT’S IT MEAN? Quickies
This [...]

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Staff Affect Your Bottom Line!

March 2, 2010

We seem to be on a staffing theme this week (no doubt due to the fact, we’re currently occupied with expanding our own team). Let’s keep the theme going with a look at how staff can impact on your bottom line – either positively or negatively.
Staff attitudes are the prime contributor to bottom line profitability
No matter how [...]

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New Law for BAS Providers

March 1, 2010

Today the new Tax Agent Services law came into effect. For the first time, bookkeepers and others who provide BAS services will be regulated. The newly formed Tax Practitioners Board will take of the place of the original Tax Agents Board and incorporate BAS providers as well as registered tax agents.
What does this mean for BAS service [...]

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Business Plans – Some Questions To Consider – Part 16

March 1, 2010

Pricing

How often do you review your selling prices?
Do you compare your prices to your competitors?
Is there a reason for any major variations in prices?
Have you got different mark-ups or charge out rates for different products or services?
Do you prepare “what if” calculations on various sales mix items to see what the result would be?

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Accounts Payable means…

March 1, 2010

Accounts Payable means…
…are short-term or current financial obligations that are created through the purchase of merchandise, obtaining of services, etc. At the end of each month it is normal to prepare a list of the money that is owing as accounts payable (also called sundry creditors).
Many businesses prepare an Aged Analysis of Accounts Payable (Sundry Creditors) [...]

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Fresh Ideas for Work and Family Grants

March 1, 2010

Are you a small business and want to help your employees by introducing or improving your family friendly work arrangements? Did you know that there are grants available of up to $15,000?
It seems only yesterday I was posting a snippet about this program after its launch, and here we are a year later already! If you [...]

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IP Australia “Make Your Brand Great” events

March 1, 2010

Are you looking to create a new brand? IP Australia is running a series of breakfast networking events which will provide business owners and brand managers with the tools and strategies needed to develop successful, recognisable brands.
The events are being run in Sydney (already booked out), Melbourne, Adelaide, Brisbane and Perth through February and March. [...]

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