Author name: YBM

Artificial intelligence, artificial neural networks, deep learning, and robots only seemed part of science fiction only a few decades ago. But today, these types of technologies are used in every industry. Industries like medicine, agriculture, healthcare centers, and customer service have already shifted toward robotic work. These changes may have brought positive changes for some, but they …

Will AI Affect Accountants? The Future of the Accounting Profession! Read More »

Companies like Xero invest millions in persuading users about their easy-to-use software because it’s far more user-friendly and beneficial than old-school bulky accounting software. Plus, Xero saves small-medium-businesses (SMBs) time they can spend on other, more important tasks like business scaling, increasing ROI, and improving customer retention. But what if you don’t know the first thing about …

Do I still need an Accountant if I use Xero? Read More »

Scammers are always searching for new techniques to get what they want. Keeping yourself updated and conscious of any anomaly helps you safeguard your personal information and finances. The Changing Scams Scams don’t look like scams anymore. Their sophistication continues to increase as scammers effectively work their way around impersonating departments and stealing your important …

How to dodge rapidly evolving scams for your property in Australia Read More »

If you’re interested in boosting company performance and are keen to attract and retain valuable staff, then an Employee Share Scheme (ESS) is a potential option that is worth considering.  Fewer than 1% are using the scheme, yet they are proven to grow and retain staff, something that many businesses claim to be top on …

Employee Share Schemes could be the solution to attracting and retaining the right people Read More »

ATO’s tracing technology is getting better and better each year when it comes to detecting any off-the-book transactions and side hustles that you may have thought were slipping past the radar.  Cash is making a comeback post-COVID, with plenty of it now back in circulation, and although it may be tempting to leave cash payments, …

The risk of not declaring cash sales Read More »

The past few years have seen lockdowns, uncertainty for business owners and their employees and the reliance on support packages from the government designed to keep the economy going.  The pandemic has completely shifted the way that we needed to operate and many businesses are slow to revert back to the way things once were.  …

Pandemic has blurred the line between personal and work expenses Read More »

Many people wrongly believe that creating a will and planning their estate is the same thing.  Sure, a will is a key component, but estate planning encompasses a lot more to ensure that your wealth is distributed according to your wishes, without being unnecessarily depleted by fees and taxes. An important first step is seeking …

Why is estate planning so important? Read More »

The 2021 State of the Environment report was dire in regards to our ecosystem, and CPA Australia are imploring Australian businesses to step up and do more, starting with ‘Integrated reporting’, through which business owners can measure their individual impacts. Since 2016, 202 additional plant and animal species have been added to the threatened list …

Environmental report delivers shake up to Australian businesses Read More »

The ATO has recently reminded tax payers, both business owners and wage earners, of a number of forgotten income streams that need to be included in assessments.  Otherwise be prepared to face their wrath! Tips, compensation payouts, investment earnings, interest and commission all need to be added to the assessable income for a business. These …

The frequently forgotten income streams that need to be included Read More »