NSW only – Payroll tax rebate for creating new jobs
Did you know you can get a payroll tax rebate for employing more staff? A new scheme by the NSW Government gives employers a payroll tax rebate of up to $4,000 per employee (equivalent to the annual payroll tax bill for one employee on an average wage).
So, if you added five new team members in new jobs that could be $20,000 less to pay in payroll tax over the next two years. The rebate is paid on the first and second anniversary of the team member’s employment. But, as always, there are a few provisos:
Business Succession is a big issue for small business
Surveys indicate that 40% of SMEs will face a succession event over the next 5 years. For many it is the baby boomer generation of business owners who are looking to exit their business. This represents a large group of small business owners who, in the main, will retire over a 5-10 year period. But it’s not all about retirement. Increasingly business owner are buying or building businesses with a clear exit date in mind. Their strategy is to grow the business, sell it and move on to the next venture.
From these two groups, what is evident is that there will be a significant number of businesses that will come on to the market in the coming years or that will be managing some form of succession. Apart from business sales it could be a merger, generational succession, management buyout or even a listing. On the sheer numbers alone we are talking about over 400,000 businesses.
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Hayes Knight Sydney Sponsors the 2011 Sydney Business Awards
For the third consecutive year, Hayes Knight Sydney is proud to be an official sponsor of the City of Sydney Business Awards. This is the most prestigious awards program for small to medium enterprises in the City of Sydney, which helps thousands to connect, grow and celebrate their business achievements. We love being a part of it!
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Five steps to avoid a cashflow crash – Startupsmart Webinar
Free Webinar – Thursday, Jun 2, 2011 12:30 PM – 1:30 PM AEST
Speak to any successful entrepreneur and there’s a good chance that he or she will have experienced cashflow problems in the early stages of their business.
The yawning gap between money coming in and going out proves fatal to thousands of start-ups each year. However, a handful of key practices can help avoid a cashflow crash.
This FREE webinar presented by Startupsmart, which will cover critical areas such as:
- Late payment
- Chasing debts
- Invoicing
- The importance of cash to your business
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Above all talk to your accountant. Every business is different and you need to take advice from someone who understands your current position.
Having said that, there are some good ‘housekeeping tips’ that almost every business should review. Here are 7 of them.
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