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Did you know that the Australian Taxation Office (ATO) has the authority to disclose business tax debts to credit reporting bureaus if they remain unpaid. This means your unpaid tax debt could impact your credit record and therefore your ability to access finance and secure loans. When can the ATO disclose your tax debt? In […]

Managing your payroll is an important function for a small business. It ensures your employees are paid correctly and on time, creating a positive work environment. But, payroll mistakes can happen, leading to potential financial issues, legal complications and unhappy staff. Here are five common payroll mistakes and how to avoid them: 1. Misclassifying your […]

As financial year-end approaches at the end of June, it’s time to start preparing. With some clever organisation, you can navigate the year-end easily. Here are some tips to help you effectively prepare: 1. Gather your paperwork Spend the next few weeks gathering what you’ll need, including: Financial records showing your income statements as well […]

Running a small business is a rewarding endeavour but tax compliance can bring unique challenges. There are a number of common mistakes that small business owners often make that can have significant financial implications. To help you avoid these, here are the top five tax mistakes Australian small business owners make with strategies for how […]

In the complexities of managing a business, business owners often find themselves buried under piles of financial paperwork, compliance and administration work, struggling to keep up with the demands of bookkeeping while also trying to focus on growing their ventures. This juggling act can quickly lead to burnout and a significant imbalance between work and […]

In today’s competitive job market, employers are continually seeking ways to attract and retain top talent. One increasingly popular method is offering novated leases as part of employee benefit packages. Novated leases, which allow employees to finance a vehicle through salary packaging, come with a host of advantages for both employers and employees alike. In […]

A business and its competitive landscape continuously changes, and achieving operational excellence is essential for sustainable growth and competitive advantage. Operational excellence entails the continuous improvement of processes, systems, and practices to enhance efficiency, reduce costs, and deliver superior value to customers. While it requires a concerted effort across all departments, the role of a […]

As a small business owner, you can take advantage of one of four capital gains tax (CGT) concessions offered by the Australian Tax Office. These allow you to reduce, disregard or defer some capital gain from an active asset used in your small business. Eligibility These concessions become available when you dispose of an active […]

At Omnia Business Solutions we work with many individuals who are looking to take the next step and start their own business. Whether it is a side-hustle or you are going to take on the world, it is important that you set yourself up correctly and then have the right tools to manage both your […]