Welcome to the Autumn issue of Business Adviser. In this issue we address:

Strategies to boost your business’s resilience

Resilience isn’t just advantageous in business – it’s imperative. From economic shifts to environmental hazards and global crises, businesses encounter many obstacles that can jeopardise their survival. Yet, armed with practical strategies, businesses can withstand these challenges and emerge stronger and more resilient.

Be aware: changes to PAYG from 1 July

Significant changes are coming to your Pay As You Go (PAYG) withholding cycle, effective 1 July 2024. The Australian Taxation Office (ATO) regularly reviews PAYG withholding cycles based on businesses’ annual withholding amounts. Your reporting and payment obligations may be subject to adjustments depending on your withholding activity.

What is business stress testing?

Businesses face many risks that can disrupt operations, impact financial stability, and challenge growth trajectories. From economic downturns and market volatility to regulatory changes and natural disasters, the ability to anticipate, withstand, and recover from adverse events is crucial for long-term success. This is where the concept of business stress testing comes into play.

Closing the loopholes acts: The amendments to workplace law you need to know

With the enactment of the Fair Work Legislation Amendment (Closing Loopholes) Act 2023 and the subsequent Fair Work Legislation Amendment (Closing Loopholes No. 2) Act 2024, a series of reforms have been introduced to address various loopholes and shortcomings in existing legislation.

Overcoming invoice defaulting: A battle for business cash flow

Invoicing is the heartbeat of business transactions, ensuring prompt payment for goods and services rendered. However, when clients or customers default on invoices and fail to meet payment obligations within agreed timelines, it can throw businesses into a financial whirlwind.

Managing payroll: A guide to the integral system behind businesses

Payroll issues have plagued the Australian business sector for years. However, with recent legislation criminalising intentional payroll discrepancies (such as wage theft), it’s time to reassess how your payroll is handled.

10 EOFY tasks for your business’s checklist

As the end of the financial year approaches, businesses face a flurry of tasks and responsibilities to ensure a smooth transition into the new fiscal period. To help navigate this critical period effectively, it’s essential to prioritise specific tasks that can set the stage for financial health and success in the coming year.