Business Essentials

Over the past few years, the depreciation rules for eligible businesses have changed significantly. As businesses look to prepare their tax returns, it’s important to consider the difference between the temporary full expensing measures available for 2022-23 and the proposed changes that are expected to come into effect from 1 July 2023. That’s according to Joel Orbita, Associate Director at Mazars, who says business owners should be aware of potential larger tax payable amounts or reduced refunds as a result of reduced depreciation deductions.

Reference: 

For more information on tax planning opportunities or to determine your businesses eligibility to claim depreciation, please contact a Mazars advisor: https://www.mazars.com.au/

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Becoming an authority in your field of expertise and making a heap of money in the process – now that’s not so easy. Why not shortcut the process and learn the lessons of a master at the game? Tom Matzen has spent years perfecting the art of guaranteed scalable success and he loves sharing his lessons with other aspiring entrepreneurs.

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Bosses are often so focused on putting out fires that they neglect to recognise the good work done by their staff. HR consultant Karen Gately, at Corporate Dojo, says employees are energised when their achievements are noticed and then rewarded. And, no, money's not always the biggest motivator in the workplace, as Karen offers some smart and creative ways to reward employees.

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Yes, it's true we can all learn from our own mistakes – but sometimes it's better to learn from others' mistakes. Alan Rodway has a list of common mistakes he sees in business and he takes us through the poor choices that abound in decision-making and planning. A common thread is using a traditional or default way of thinking by avoiding new ideas, not engaging with different people and ignoring new technology.

Business Essentials Daily is produced by:

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There’s a myriad of rules around employment and It’s important that employers understand the obligations to their staff and keep up to date with changes to employment law. Lawyer Paul Cott, Principal at Law on Lydiard, discusses some of the new rules, including flexible working arrangements, domestic violence leave, paid parental leave, and issues around workplace sexual harassment.

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Former AFL footballer Wayne Schwass has spent decades dealing with depression and anxiety, so he knows first-hand the debilitating effects it can have on one's personal and professional life.

Today, Wayne's a mental health advocate through his organisation, PukaUp, helping to spread the word and provide support about mental health issues in the workplace. He tells his own story and what can be done to alleviate the difficulties people can have with depression and anxiety.

Business Essentials Daily is produced by:

SoundCartel
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Did you know that just 7% of businesses achieve annual revenue of $2 million? There’s a lot of books written and advice given to businesses starting out, but few cater to established businesses looking to scale up. Strategy advisor Jenny Stilwell explores why businesses falter as they approach $2 million and beyond. She outlines the reasons and provides solutions in her new book, ‘The 7% Club: How to be one of the 7% of businesses that make it beyond two million dollars in turnover’.

Business Essentials Daily is produced by:

SoundCartel
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Have your ever wondered how the best salespeople win over their clients? With decades of experience, Mike Adams says the common thread is storytelling. Mike insists stories help establish rapport and trust, inspire action and close the deal. He shares tips from his book, ‘Seven Stories Every Salesperson Must Tell’, based on extensive research and his own international sales career.

Business Essentials Daily is produced by:

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Don’t be too distracted by the chatter around augmented reality and artificial intelligence. And if you’re not sure what they are exactly, don’t worry! Moby Siddique, CEO of RedPandas, says you should focus on developing content – whether that’s video, audio or blogs – for your website and social media channels. Moby discusses the latest trends in digital marketing, including podcasting and video content.

Business Essentials Daily is produced by:

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How do you focus on making quality decisions that drive real impact? Too often data is misused, resulting in irrelevant, misleading, or incorrect analyses. Brad Kasell, Principal Technology Strategist (APAC), at Domo, says good decisions depend on data quality, analytical integrity, and most importantly business context. He insists that business growth comes, not from the decisions themselves, but on the subsequent actions taken from those decisions. He also says business leaders should focus on enabling quality decision-making to be incorporated into business processes and feedback mechanisms.

Business Essentials Daily is produced by:

SoundCartel
soundcartel.com.au
+61 3 9882 8333

See omnystudio.com/listener for privacy information.