Sharp Accounting

🎄✨ The Sharp Accounting Team would like to wish you and your family a Merry Christmas and a safe and Happy New Year! 🎅🎉 📅 Our offices will be closed from 5:00 pm Friday 20 December and will re-open at 8:30 am on Monday 13 January 2025. ⏰

As the holidays approach, it’s vital to keep your business cashflow in check for a stress-free break. ✅ Key Tips: Plan for Overheads & Salaries: Ensure you have a clear picture of costs even when you’re away. Address Cash Shortfalls Early: Negotiate with suppliers or creditors to avoid strain. Invoice & Chase Payments: Get ahead by invoicing early and following up on overdue payments. Communicate with Suppliers & Review Costs: Extend credit lines and optimise business expenses. Speak to Your Bank or Tax Department: If cashflow is tight, start discussions early to ease any concerns. Need help navigating your holiday cashflow? Contact us today for expert support. Learn more: https://bit.ly/3DefT2j #HolidayCashflow #BusinessTips #CashflowManagement

Is your business ready for seasonal fluctuations? 📉📈 Forecast your seasonality by reviewing past profit & loss reports to identify trends and plan accordingly. Here are some strategies to maximise revenue year-round: 🔹 Charge a Premium During Peak Times: Increase prices when demand is high. 🔹 Offer Additional Services: Upsell premium services to your existing customers. 🔹 Target Other Markets: Explore new markets during downtime. 🔹 Diversify Your Products/Services: Tap into off-season activities. 🔹 Regional E-Commerce Strategy: Expand your reach through online marketing. Planning ahead can help you navigate lean months with ease and boost overall profitability. 💡 Learn more: https://bit.ly/41AvT8X #BusinessPlanning #BusinessAdvisoryServices #StrategicPlanning

This video remains one of our most popular for a reason—it covers a key tax advantage for business owners selling as a going concern. Did you know this could mean no GST on the sale? Whether it’s a walk-in walk-out sale or a more complex arrangement, this exemption can have a big cash flow impact for both buyer and seller. ⚠️ Key Tip: Always get professional advice before signing any contracts to ensure the tax outcomes are correct. Don’t risk unexpected GST liabilities! 📽️ Watch this valuable video to learn more about the going concern exemption and why proper planning is essential: https://bit.ly/49pXewr Get in touch if you need our help. #BusinessPlanning #SuccessionPlanning #BusinessAdvisoryServices

🎄 Celebrating the festive season with employees is wonderful, but it’s important to consider the Fringe Benefits Tax (FBT) implications. ✅ Key Points: Parties on Business Premises: Generally FBT-free for employees, but no tax deductions or GST credits apply. Parties Elsewhere: FBT may apply depending on the cost per head and attendees. Gifts: Non-entertainment gifts under $300 are FBT-exempt, tax-deductible, and GST-claimable, while entertainment gifts may incur FBT and aren’t deductible . Plan your celebrations wisely to avoid unexpected tax surprises. Need help navigating FBT this festive season? We’re here to assist! Learn more: https://bit.ly/49uG1SD #TaxPlanning #FBT #BusinessPlanning

🎉 Celebrating a local success story: Vitrafy Life Sciences is listed on the ASX! 🎉 Sharp Accounting is proud to have played a key role in supporting Vitrafy Life Sciences's incredible journey from a small startup to an ASX-listed company! 🚀 Glenn Sharp, Director at Sharp Accounting, has had the privilege of working closely with the founders and team at Vitrafy, helping them secure over $7m in R&D Tax Incentives and achieve major milestones, including Early Stage Innovation Status and a rare Advanced and Overseas Finding for their R&D program. 💡 Vitrafy’s innovation in cryopreservation technology is set to transform the healthcare sector, improving the quality of life-saving products. It’s a huge achievement for Ballarat and a testament to the power of local talent, collaboration, and long-term planning. Congratulations to the Vitrafy team for working so hard to make this milestone possible! 👏 At Sharp Accounting, we are proud to be a part of such success stories, helping businesses grow and achieve their goals. Here’s to many more milestones and success ahead! 

🎄 As you plan your end-of-year celebrations, keep these tax tips in mind: ✅ On-site parties for employees: No FBT but not tax-deductible. ✅ Off-site parties over $300/head: FBT applies, but costs are deductible. ✅ Non-entertainment gifts under $300 (like hampers or wine): Tax-deductible and GST credits apply. ❌ Entertainment gifts (concert tickets, etc.) may be subject to FBT and are not tax-deductible. 💡 Plan wisely to make the most of your celebrations and avoid unexpected costs! Need help? Our team can guide you through your FBT obligations and holiday expenses. 🎉 Learn more: https://bit.ly/4iuWQAX #FBT #BusinessPlanning

As the new year approaches, it’s a great time to reflect on your business goals and the partnerships that help you achieve them. For Crossroads Trading, working with Sharp Accounting has been instrumental in driving growth, diversification, and long-term success. 🌟 “Sharp Accounting has been more than just accountants—they’ve been trusted advisors, helping us navigate challenges and seize new opportunities with confidence.” What goals are you setting for the year ahead? Watch this testimonial to see how we’ve helped Crossroads Trading and how we could support your business too. 📽️ View the full testimonial here: https://bit.ly/3CT9dGB #BusinessAdvisory #AccountingSupport #BusinessGoals

The holiday season can be a challenging time for business owners, with added expenses like staff leave and potential changes in customer spending. Careful cashflow planning is essential to navigate this period stress-free. ✅ Key Strategies: - Set clear holiday break dates with staff, customers, and suppliers. - Budget for leave payouts and temporary staffing needs. - Finalise and invoice work before the break. - Review stock and plan for holiday demand. - Explore payment plans with the ATO if needed. Whether you're closing for the holidays or preparing for a busy season, planning is key. Need help with cashflow forecasting or short-term finance? We're here to support you. Learn more: https://bit.ly/4eRD3sk #BusinessPlanning #Strategy #CashflowPlanning

🎄Holiday Cashflow Strategies for SMEs 🎄 Stay stress-free this holiday season with these strategies: ✅ Set clear holiday break dates for staff, customers, and suppliers. ✅ Budget for annual leave and consider temporary staff if needed. ✅ Complete and invoice Work in progress (WIP) before the break. ✅ Plan for holiday rushes with extra staffing, inventory, and promotions. ✅ Arrange instalment options with the tax office if cashflow is tight. ✨ Make the most of the season while staying prepared! Learn more: https://bit.ly/3OAf5XH #BusinessPlanning #Strategy #CashflowPlanning