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23-Aug-2018

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DIRECTORS: Can They Be Liable for Corporate Income Taxes?

If you are a director and legal representative of a corporation, ensure that you are properly protected if distributing assets.

23-Aug-2018

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EMPLOYER-SPONSORED SOCIAL EVENTS: After the Party

On taxable benefits arising from employer-sponsored, if the cost exceeds $150/person, the entire amount, including the additional cost, is a taxable benefit to the employee.

23-Aug-2018

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INTEREST ON DELINQUENT ACCOUNTS: Proper Disclosure on Legal Documents

If stating interest rates in legal contracts, ensure to also state them in per annum terms

23-Aug-2018

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PERSONAL USE OF BUSINESS AIRCRAFT: How Big of a Taxable Benefit Is It?

If employees are using a business aircraft for personal use, attention should be paid to whether employment benefits are being properly calculated and reported.

23-Aug-2018

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SUBSIDIZED MEALS: Are They a Taxable Benefit?

CRA stated that they do not consider meals subsidized by the employer to be a taxable benefit provided the employee pays a reasonable charge.

23-Aug-2018

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TAX TICKLERS… some quick points to consider…

CRA may request taxpayer information from third-parties...

22-Aug-2018

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DONATION RECEIPTS: How Complete Is Complete?

Effective March 31, 2019, charities and qualified donees must include the new website address of CRA, www.canada.ca/charities-giving on all donation receipts.

22-Aug-2018

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INTEREST DEDUCTIBILITY: Returns of Capital

One may need to track any return of capital which is not reinvested to determine interest deductibility.

21-Aug-2018

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INPUT TAX CREDITS: Making Timely Claims

Failure to make the claim on a return filed within four years of the end of the appropriate period is fatal to the claim.

01-Jun-2018

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CRA MOBILE PHONE APPS: Tools for Individuals and Businesses

CRA provides a number of mobile phone apps that taxpayers (individuals, corporations, etc.) can use to assist with their tax obligations...

31-May-2018

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CONSTRUCTION ACTIVITIES: Reporting Obligations for Subcontractors

T5018 should be filed for any subcontractor payment or credit made relating to goods or services received in the course of construction activities...

31-May-2018

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REASONABLE AUTOMOBILE ALLOWANCES: GST/HST Claim

A travel allowance paid to an employee for the use of their personal vehicle for business purposes will be non-taxable if it is reasonable...

31-May-2018

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U.S. CITIZENS: Risks of Tax Non-Compliance

U.S. State Department was able to deny or revoke passports to U.S. citizens having a “seriously delinquent tax debt”...

29-May-2018

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CORPORATE PASSIVE INVESTMENT INCOME: Proposed Changes

Two significant changes are proposed. First, a limit to the small business deduction for CCPCs generating significant income from passive assets, and second, a new regime to stream the recovery of refundable tax to the payment of specific types of dividends

28-May-2018

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DIGITAL CURRENCY: Basics And Tax Implications

Gains or losses from selling or buying DCs must be reported on one’s tax return... DC received in exchange for goods or services must be included in the seller’s income for tax purposes. GST/HST would also apply on the fair market value (FMV) of goods or services

28-May-2018

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FAMILY MEMBERS: Can I Pay Them a Salary?

CRA states that T4s are required for all employees, including family members, and subject to payroll deductions, as appropriate.

28-May-2018

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TAX TICKLERS… some quick points to consider…

CRA require PayPal to disclose sales records of Business Account Holders...

22-Feb-2018

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2018Q1 TAX TICKLERS… some quick points to consider…

Of the approximately 28 million personal tax returns filed for the 2016 year, 58% got refunds. 68% received them by direct deposit. The average refund was $1,735.

19-Feb-2018

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INCOME SPRINKLING: Where Are We Now?

Individuals that receive certain types of income derived from a “related business” will be subject to Tax on Split Income (TOSI) unless an exclusion applies. TOSI is subject to the highest personal tax rate with no benefit of personal credits.

19-Feb-2018

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INPUT TAX CREDITS: Checking Up On Suppliers

Do I have to check up on a supplier when paying them GST/HST? Yes.
Implement a system for checking GST/HST numbers, especially for major purchases, in CRA’s GST/HST registry...

19-Feb-2018

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MARIJUANA: A Growing Industry

The legislation to legalize marijuana for non-medical purposes works its way through parliament (Bill C-45 entered the Senate phase on November 27, 2017). Producers, vendors, regulators, enforcement, and potential customers are seriously considering the implications.

18-Feb-2018

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BUSINESS FAILURE: Personal Liability for Corporate Tax Debt

There are special laws which hold a director personally liable for certain amounts that their corporation fails to deduct, withhold, remit, or pay. Most commonly, these amounts include federal sales tax (GST/HST) and payroll withholdings (income tax, EI and CPP). It does not generally include normal corporate income tax liabilities.

18-Feb-2018

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COMMISSION PAID TO A CORPORATION: Any Issues?

CRA noted that “if insurance agents, realtors, mutual fund salespersons, or other professionals are legally… precluded from assigning their commissions to a corporation, then the commission income must be reported by the individuals, and cannot be reported through a corporation, regardless of the documentation provided”.

18-Feb-2018

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LOANS TO A RELATIVE’S BUSINESS: What Happens When It Goes Bad?

If the loan was made to earn income and other conditions are met, you may be able to write-off half against your regular income as an allowable business investment loss (ABIL). A recent tax court case shed some light on defining whether the loan was made to earn income...

27-Oct-2017

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BUSINESS/PROPERTY INCOME MARIHUANA – INDIRECT VERIFICATION OF INCOME

A specialized indirect verification of income (IVI), a “yield analysis”, was completed to determine the unreported income. The primary variables included the number of plants in the crop, the expected yieldof dried marihuana from each plant, the frequency of harvest, and the price at which marihuana is sold. In this case, the taxpayer did not dispute the variables of the analysis, but rather argued that nothing was produced in the first few years, and that there was no profit in the third due to the seizure of crops and the claim that what was produced was for personal use.

27-Oct-2017

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CANADIAN CULTURAL PROPERTY

A July 25, 2017 New York Times article (Canada Debates Whether Gift of Leibowitz Photos Is Also a Tax Dodge, by Sopan Deb and Colin Moynihan) discussed the acquisition of 2,070 photographs by American portrait photographer Annie Liebovitz and their donation to the Art Gallery of Nova Scotia.

27-Oct-2017

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CAPITAL GAINS/LOSSES ALLOWABLE BUSINESS INVESTMENT LOSS (ABIL) –LOAN TO DAUGHTER’S COMPANY

One of the conditions required to claim an ABIL is that the loan was advanced to earn income(Subparagraph 40(2)(g)(i)). The loan agreement stipulated that interest at 6% was to be charged, but payments would not commence until 2009, which, as it would turn out, was after the business eventually ceased. The Minister argued that no interest was charged, and therefore, there was no intent to earn income. This was partially based on accounting records of the daughter’s company which were inconsistent in their reflection of accruing the interest.

27-Oct-2017

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CORPORATE OWNED LIFE INSURANCE – MULTIPLE BENEFICIARIES

In a May 18, 2017 Technical Interpretation (2017-0690311C6, Danis, Sylvie), CRA considered the addition to the capital dividend account(CDA) where two corporations were the beneficiaries of a corporately-owned life insurance policy.

27-Oct-2017

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CORPORATE REORGANIZATION – RELATED PARTY EXEMPTION

2017 Advance Income Tax Ruling (2016-0675881R3), CRA ruled that the related party exemption (Paragraph 55(3)(a)) would apply to a proposed internal reorganization, such that Subsection 55(2) would not reclassify a deemed dividend into a capital gain.

27-Oct-2017

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DID YOU KNOW...BC – WILDFIRE RELIEF GRANTS

In an August 22, 2017 Release (2017JTT0137-001468) it was noted that $1,500 grants were being offered to help resume operations for those affected by BC wildfires. Eligible organizations include small businesses, First Nations, and non-profits located in certain areas. For further details on qualification, or to apply for a grant, visit redcross.ca. Applicants have until October 31, 2017 to apply.

27-Oct-2017

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EMPLOYMENT INCOME TAXABLE BENEFIT – TAX ADVISORY SERVICES

In an April 28, 2017 Technical Interpretation (2017-0699741I7, Waugh, Phyllis), CRA was asked whether a reimbursement for tax advisory services obtained as a result of an employer payroll error would be a taxable benefit. The errors in question arose from the Phoenix pay system used for public service employees (see VTN 422(10)).

27-Oct-2017

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ESTATE PLANNING TFSA – EXEMPT CONTRIBUTION

In a June 6, 2017 French Technical Interpretation (2015-0617331E5, Roy, Louise), CRA considered whether the transfer of a deceased’s TFSA to their spouse could constitute an exempt contribution. To the extent the payment is made in accordance to the will, CRA opined that the payment is made as a result of the individual’s death.

27-Oct-2017

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GOVERNMENT RELEASES

Finance releases and CRA releases

27-Oct-2017

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GST/HST INPUT TAX CREDITS (ITCs) – DUE DILIGENCE

In a January 29, 2016 Tax Court of Canada case (SNF S.E.C. vs. H.M.Q., 2013-1207(GST)G), CRA had denied over $500,000 of ITCs, and assessed penalties and interest, in respect of GST and QST paid to welve suppliers. Unknown to the taxpayer, the suppliers did not remit the tax.
The taxpayer, a scrap metal dealer, obtained evidence of prospective suppliers’ GST and QST registration prior to accepting them as suppliers.

27-Oct-2017

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GUIDE TO COMPLETING T1135

A variety of issues related to the T1135 form

27-Oct-2017

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OWNER-MANAGER REMUNERATION DIRECTOR LIABILITY – CORPORATE BANKRUPTCY

In a June 22, 2017 Tax Court of Canada case(Grant vs H.M.Q., 2014-1399(IT)G), at issue was whether the director of a corporation could be held liable for $66,865 in unremitted source eductions, related penalties, and interest six years after the corporation went bankrupt. The taxpayer presented various defenses.

27-Oct-2017

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PARTNERSHIPS LIMITED PARTNERSHIP – DEEMED GAIN AND CAPITAL DIVIDEND ACCOUNT

When a commercial obligation is settled or extinguished for an amount less than the principal amount of the debt, Section 80 applies the debt forgiveness rules. CRA notes that the forgiven amount is applied to reduce “tax balances” or is included in the debtor’s income under Subsection 80(2) or (13).

27-Oct-2017

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PERSONAL TAX DISABILITY TAX CREDIT (DTC) – PREVENTATIVE CARE

In a February 20, 2017 Tax Court of Canada case (Mullings vs. H.M.Q., 2016-2938(IT)I), at issue was whether preventative care associated with phenylketonuria (PKU) would be eligible for the DTC. Without the ongoing care and strict monitoring of the individual’s diet, permanent and severe rain damage would occur.

27-Oct-2017

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RELATIONSHIP BREAKDOWN WHOLLY DEPENDENT CREDIT

In a June 21, 2017 Tax Court of Canada case (Lawson vs. H.M.Q., 2015-3474(IT)I), at issue was whether the wholly dependent credit could be claimed where only one party was providing a cheque which represented the net of each party’s child support liability.Where both parties are required to pay, either may claim the credit (Subsection 118(5.1)). At issue was whether the agreement, in fact, created two obligations to pay or just one.

27-Oct-2017

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TAX CONSULTATION ON PRIVATE CORPORATIONS

Since release of the Department of Finance’s Tax Consultation on Private Corporations on July 18, 2017, there has been much discussion and debate over the proposals. Below are a number of issues that have been raised, in addition to those noted in the basic discussion of the proposals (see VTN 433(5)).

27-Oct-2017

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WAIVER – IS IT ENFORCEABLE?

In an August 16, 2017 Tax Court of Canada case (Radelet vs. H.M.Q., 2015-2089(IT)G), at issue was whether a waiver (Form T2029) signed by the taxpayer was enforceable such that CRA could assess the taxpayer beyond the normal reassessment period. The taxpayer asserted that the waiver was executed under duress and/or coercion and that the taxpayer failed to understand that the normal reassessment period was extended by the waiver.

27-Oct-2017

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CHARITY FILING AND COMPLIANCE OBLIGATIONS: The CRA Has Checklists to Help

The CRA Charity Directorate provides a number of fairly comprehensive and easy to read checklists relating to various responsibilities associated with operating a registered charity.

27-Oct-2017

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GUARANTEED INCOME SUPPLEMENT: Change in an Individual’s Circumstance

Where an individual is married or in a common-law relationship, GIS entitlements are based on the combined income of a couple.

27-Oct-2017

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NON-COMPLIANT GST/HST REGISTRANTS: Impact on Tax Refunds or Credits

In a recent release (Excise and GST/HST News No. 102), CRA reminded taxpayers that they may place a non-compliance hold on a taxpayer’s account if they are a non-compliant GST/HST registrant.

27-Oct-2017

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OPERATING A BUSINESS IN THE U.S.: The IRS is Targeting Smaller Foreign Entities

If operating as a mid-market business in the U.S., be prepared for the possibility of more scrutiny from the IRS.

27-Oct-2017

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SUPPORT OF REFUGEES: Tax and Filing Requirements

Two Technical Interpretations (May 26 and March 3, 2017) considered whether support provided to a refugee would be required to be reported on a Form T5007, Statement of Benefits.

27-Oct-2017

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TAX TICKLERS… some quick points to consider…

CRA assisted in collecting a six figure U.S. tax penalty for unfiled disclosures from a U.S. citizen resident in Canada.

27-Oct-2017

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BUSINESS LOSS OR PERSONAL VENTURE: Can I Deduct Losses Against Other Income?

An April 28, 2017 Tax Court of Canada case considered whether a practicing lawyer had a source of business income in respect of her law practice for the 2011-2014 years.

27-Oct-2017

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DYING WITHOUT A WILL: Who Can Manage the Deceased’s Tax Affairs?

where a family member of a deceased individual would like to be recognized by CRA as the person or persons who will manage the tax affairs of the person who died without a last will and testament, they can now do so by completing a CRA Form (Affidavit for intestate situation, Forms RC549 to RC561, with no form for Quebec, and no RC554).

27-Oct-2017

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UNDERGROUND ECONOMY: Contractors, Online Sales, Farmers Markets…

In recent years, CRA has particularly focused on tracking underground economy activities. One way they are doing this is by obtaining information from key 3rd parties.

14-Sep-2017

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DEATH BENEFITS: Tax-Free Employment Benefit

A death benefit is a payment received subsequent to the death of an employee, in recognition of the deceased employees services.

14-Sep-2017

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ELECTRONIC T4 SLIPS: Now More Widely Available

CRA has provided commentary on its website to discuss recent changes to allow the electronic distribution of T4 slips. In the past, an employer could provide a T4 electronically only with the employees consent. For 2017 and subsequent tax years, employers may also satisfy their obligations by providing electronic versions without specific consent, provided other criteria are met.

14-Sep-2017

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EMPLOYEE DISCOUNTS ON MERCHANDISE: Change in CRA Policy

Historically, CRA has stated that an employee enjoying a discount on the purchase of merchandise from their employer is only taxable if a limited number of specified situations exist, such as where the employer makes a special arrangement

14-Sep-2017

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PROFESSIONALS WORK IN PROGRESS EXCLUSION: Changes are Coming

In the past, taxpayers in certain designated professions (i.e., accountants, dentists, lawyers, medical doctors, veterinarians and chiropractors) may have elected to exclude the value of work in progress (WIP) in computing their income for tax purposes. This essentially enabled these professionals to defer tax by permitting the costs associated with WIP to be expensed without including the matching revenues.

14-Sep-2017

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RETIREMENT INCOME CALCULATOR: Ensure you are Financially Ready

When using this tool, individuals should have their CPP Statement of Contributions, financial information about their employers pension, most recent RRSP statement, and any other information related to savings that will provide for ongoing monthly retirement income.

14-Sep-2017

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RETURN OF A GIFTED PROPERTY: Charitable Organizations Beware!

In a March 31, 2017 Technical Interpretation, CRA commented on the tax consequences of a charity returning a donated property to the donor. This could occur, for example, when a donation was made specifically for a project that had been halted.

14-Sep-2017

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TAX FOR PRIVATE CORPORATIONS: Major Changes Proposed

On July 18, 2017, Minister of Finance, Bill Morneau announced the release of a Consultation Paper which focused on three tax practices that the Government considers to provide an unfair tax advantage to private corporations and their owners. These include:

14-Sep-2017

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TAX TICKLERS

Some quick points to consider........
The tuition tax credit has been extended to include courses at a post-secondary educational institution that are not at a post-secondary school level. This may include, for example, courses on basic literacy or numeracy, or learning a second language.

14-Sep-2017

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VOLUNTARY DISCLOSURE PROGRAM: Proposed Tightening

The Voluntary Disclosure Program (VDP) provides taxpayers (individuals, corporations, partnerships, trusts, etc.) the opportunity to fix incorrect or incomplete previously filed tax returns (or returns that should have been filed) with a reduction to penalties and possibly interest. CRA recently released fairly substantial proposed changes to the current program, effective January 1, 2018. The proposals are expected to be finalized in the fall of 2017.

The proposals will create two tracks for income tax disclosures.

14-Sep-2017

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WITHHOLDINGS ON REMUNERATION TO NON-RESIDENT: Get your CRA Filings Correct

In a March 9, 2017 Technical Interpretation, CRA commented on the tax filing and withholding requirements related to a non-resident individual providing services to a Canadian company.

30-Jan-2017

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6 Steps to Success for Your Online Fashion Store

If you’re a fashion store owner looking to set your sales soaring in 2017, opening an online store might just be the best way to do it. Online sales of clothing, shoes and accessories are booming, with 43% of Australians aged sixteen and over now shopping online for these products, a 14% increase from the previous year.

30-Jan-2017

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7 Signs Your Business Systems Suck

Let’s face it, concepts like paperless office and cloud computing are not ‘new’ concepts anymore. It still surprises me when I encounter businesses that are not paperless and in the cloud. It just makes sense. I’ve been running businesses as ‘paperless offices’ since I co-founded Business Fitness back in 2001. My current business, PARADOX, has been ‘paperless’ and had 100% cloud-based IT and business systems from day one, almost 8 years ago now.

30-Jan-2017

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A New Year, New Outlook For Your Business

I was catching up with a friend over the holidays who was telling me about one of his friends getting made redundant from a small family business just before Christmas. The basic premise of the story was that the bank had told them they needed to make cutbacks, and as part of this they had to reduce staff numbers. They didn’t want to do this, but they had no choice…

30-Jan-2017

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Can Inventory Management improve your Business Performance?

There are several things that go into managing a business and optimizing its performance. These are often reflected in the balance sheet, customer satisfaction and low staff turnover amongst other factors. One component of managing the business effectively and which has a big impact is inventory control. To better achieve inventory control, there are specialized software packages such as Unleashed. However, before purchasing a package, you need to be sure of the benefits to your company’s performance.

30-Jan-2017

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How to Implement a Killer Omnichannel Strategy

Efficient omnichannel strategies used to be the ultimate goal for retailers — a milestone to work toward on a continuous basis. But times have changed, and both shoppers and retail itself have evolved. Omnichannel is now the standard.

30-Jan-2017

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How to stop debtors from eating your time and cash in 2017

We’ve worked with thousands of small businesses over the past few years and managed over $1B in receivables, so we’ve learned a few things when it comes to getting invoices paid earlier with less effort and stress.

“There’s more reasons for an invoice to be paid late than there are for it to be paid on time…” – Debtor Daddy Survey

The problem is that when it comes to getting paid on time there’s more reasons for an invoice to be paid late than there are for it to be paid on time. This means that you’re going to need great systems and great people to keep your receivables under control.

30-Jan-2017

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Overstocked? Don’t despair! Tips for dealing with excessive stock

Time and again you hear that being overstocked is bad and a situation to avoid, however sometimes this is just not possible. And when it is not possible, you need to be in a position to handle it properly and turn the situation into something the company can benefit from. There are a number of ways to do this in fact, let’s look at them more closely.

30-Jan-2017

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The Difference Between a Budget and a Forecast

While any time of year is a great time to pause and reflect, many people find January is a great opportunity to understand how well their business has performed for the past year and what their targets are for the year ahead. To do that, you need to understand the difference between a budget and a forecast.

25-Jan-2017

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The Fight for the High Street: An Interview with SaveTheHighStreet.org’s Lyndsay King

It’s no secret that smaller retailers face the challenge of their lives against ecommerce giants such as Amazon — and in Britain, this fight has recently been compounded by Brexit and its potential effects on the retail and trade industries.

But there’s hope yet. A recently launched organization called SaveTheHighStreet.org aims to give the power back to high street retailers and local shopkeepers by endowing them with the tools, skills, and digital capabilities they need to compete in the modern age.

25-Jan-2017

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3 Reasons to Prioritise HR Compliance in 2017

There’s nothing quite like starting the new Year with a clean bill of health on all your HR documents, systems and processes.
And in 2017, as if you needed further impetus, there are some new, and pretty compelling reasons to put HR compliance on the top of your to-do list!

25-Jan-2017

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5 Ways to Create In-Store Experiences That Drive Traffic and Sales

Happy 2017, everyone!

In light of the new year, here’s one question you should think about: are you planning to bring anything new to the in-store experience? If your answer is “no” then 2017 could be a rough one for your physical stores.

25-Jan-2017

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Wake Up to the Huge Cost of Financial Stress on Your Business

You’re back at work ready to make your mark in 2017, and your employees are all rested, recharged and raring to go, right?
Wrong. The spectre of financial stress is wreaking more havoc than ever among the Australian workforce and crippling productivity levels in its wake.

28-Dec-2016

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2016 REMUNERATION

Higher levels of personal income are taxed at higher personal rates, while lower levels are taxed at lower rates.

28-Dec-2016

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2016 REMUNERATION

28-Dec-2016

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2016 YEAR-END TAX PLANNING TIPS

19-Dec-2016 Vend

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10 Holiday Tips to Attract and Convert Last-Minute Shoppers

The holiday shopping season is definitely in full swing, with just weeks to go before Christmas day. And while some early bird shoppers are probably taking it easy by now, a big chunk of consumers will still flock to retail stores. In fact, you can expect your foot traffic (and hopefully) sales to pick up in the coming weeks and continue til the days leading up to 25th.

19-Dec-2016 Workflowmax

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7 Highly Effective (And Unusual) Ways To Re-charge Over The Break

That spa retreat you really really wanted to go to over the holidays is booked out, you can’t get a reservation at any of your favourite restaurants and even the bach you normally go to at this time of the year is fully occupied...how on earth are you supposed to relax?!

Luckily we can help!

Here are 10 different things you can try to re-charge over the break.

14-Dec-2016 WorkflowMax

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6 Intriguing Workplace Trends You’ll See in 2017

Pulling aside thick velvet curtains, you nervously step inside the fortune teller's tent. Leaves crunch under your feet and the smell of perfumed incense hangs heavy in the air.

14-Dec-2016 Xero

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7 tech trends that will change the way small businesses operate in 2017

Technology has the power to make our lives easier, and small businesses have the flexibility and the creativity to take advantage of this power. By staying lean and agile, a small business can adapt quickly in a moment and use new technology to power into emerging markets.

14-Dec-2016 VendHQ

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7 Ways Retailers Can Increase Word of Mouth and Referrals

Word of mouth is one of the most powerful drivers of traffic and sales for retailers. According to McKinsey, it’s the primary factor behind 20 – 50% of all buying decisions and can influence purchases in ways that traditional advertising can’t.

14-Dec-2016 Xero

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Behind the Success: Expensify

David Barrett is the CEO and Founder of Expensify. Named one of the Most Innovative Companies in 2015 by FastCompany, Expensify’s team has a simple goal — expense reports that don’t suck. That ethos made them a popular app in our marketplace.

14-Dec-2016 Xero

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Ramp your business up as the year winds down

In a recent blog, I wrote about preparing your business for the traditionally quiet summer period. But there’s another side to this, where the lead up to the festive season can be the busiest time of year for many businesses.

14-Dec-2016 Xero

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Summer Camp has never looked so good

The summer period can be an interesting time for accountants, bookkeepers and BAS agents. Clients are often away, business can be slower than usual, and the temptation to take a break pulls steadily closer as December unwinds.

14-Dec-2016 Xero

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What would you do with one more day in 2016?

Trees are up. Decorations are hung. And jingles fill the air. Yup, it’s that time of year again. A time to reflect on the year that was and wonder what more we could have squeezed into those past 12 months. Instead of wondering if you feel the same, we thought we’d just ask.

13-Dec-2016 Taxjar

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5 Tips for Stopping Inventory Problems Before They Happen

The end of the year brings a lot of victories and challenges to eCommerce businesses and Amazon sellers…and sometimes those victories/challenges show up in the exact same package!

13-Dec-2016 DebtorDaddy

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Beating the Christmas cash flow crunch: Managing your invoicing over the holiday period

There’s a lot to love about the holidays — family, food and a blessed reprieve from the rigours of work.

It’s not all baubles and eggnog for SMBs however. Along with those inappropriate secret Santa presents and inadvised mistletoe moments, the period also brings its own unique challenges to business owners. Many SMBs find themselves under economic stress as clients and suppliers shut up shop over the break — often well before the those statutory holidays arrive — leaving phones ringing, emails unanswered and often, invoices unpaid.

13-Dec-2016 DebtorDaddy

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KPIs for SMBs: Key metrics for tradespeople (who don’t want to think about metrics)

Let’s discuss something we already know: Most tradespeople didn’t enter the tradie game because they love spreadsheets — usually, the case is quite the opposite.

It makes sense then that plumbers, electricians and other tradies can have a tendency to let some of the more elaborate number crunching required to run a business fall by the wayside. It’s understandable; you’re busy and you’re focused on the job at hand, so the temptation to only measure the bare minimum — ‘profit’ for example — can be strong.

13-Dec-2016 goRoster

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Managing chaos during the silly season

The Christmas period is always a hectic time for anyone working in hospitality. With Christmas celebrations and client functions galore, it should be the busiest time of the year for you and your staff.

13-Dec-2016 EmploymentHero

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Retention is Key But Even Some Turnover is Healthy

When gauging the health of your business, employee retention is a pretty important measure. Generally speaking, the lower the turnover number, the better it is. Though the number alone is only half the story.

13-Dec-2016 simPRO

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Using customer reviews to build your business online

If you’re a tradesperson looking to build your business and win more work, improving your online visibility is key. Homeowners will often research extensively online before making a decision, and it’s important you can earn customers’ trust from the get-go.

29-Nov-2016 simPRO

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A business winning formula: Business fit. Business value. Long-term relationships.

Having worked with several trade contracting businesses, I’ve observed a very common, but inefficient, behaviour: going after big contracts before thinking about the fit.

Often, companies will spend months preparing a proposal only to see it rejected.

29-Nov-2016 Xero

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Behind the Success: PANALITIX

Rob Nixon has 22 years of experience as an advisor to accountants, with clients in over 30 countries. In his current role, Nixon is helping define and execute how PANALITIX’s cloud-based accounting solution software helps thousands of accountants improve their firm’s position across profit, capacity and growth through a connection with the ultimate accountant membership community. With a belief that accountants are the naturally trusted advisors to effective business through innovative technology, quality content and transformative methodology, Nixon empowers accountants to a position where they are able to exert a tremendous impact on their client’s conditions.

29-Nov-2016 VendHQ

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HomeRetail Tips & Trends How to Create a Workplace Culture that Attracts and Retains the Best Employees

Workplace culture.” This phrase is easy to throw around at HR meetings or interviews, but actually understanding the concept and building a strong culture in your organization is whole other story.

28-Nov-2016 Xero

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Autumn Statement 2016: The Business Perspective

As Chancellor Philip Hammond’s first Autumn statement was announced yesterday to focus on “preparing and supporting the economy as we begin writing a new chapter in our country’s history”, I wanted to share what I believe are most interesting proposals for businesses – and whether they are the best investments to reflect current needs.

28-Nov-2016 Xero

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Here’s what you need to know about your millennial small business clients

Millennials are now the largest living generation in the U.S.. An acute understanding of the entrepreneurial individuals in this group is growing to be a necessity for accountants and bookkeepers in order to provide services that will meet their needs and wants.

28-Nov-2016 VendHQ

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How to Stay on Top of Stock Control and Reduce Costs Using the Just-in-Time Inventory Method

If you’ve never heard of just-in-time, don’t worry—it’s not too late. The just-in-time manufacturing model was introduced by Toyota in the 1960s and has become a popular way for manufacturers to manage their inventory, raw materials and the other supplies they use in the manufacturing process. Of course, manufacturers aren’t the only small businesses that can benefit from this approach.

28-Nov-2016 Workflowmax

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Not Getting Everything Done? Why Your To-Do List Sucks

A few months ago we set up an innocuous little survey on the WorkflowMax blog to help us understand our customers’ pain points better. We wanted to create more targeted and relevant content that would address their issues directly (and maybe even bring a smile to their face as they scrolled past the occasional GIF and bad pun).

27-Nov-2016 EmploymentHero

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Why You Need To Embed Culture into Your Onboarding Process

These days, cultural fit is an important part of the recruiting process. The prevailing wisdom is that you train for skills, and hire for attitude and fit.

25-Nov-2016 EmploymentHero

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Why You Need to Hire for Cultural Fit

When you’re recruiting, identifying cultural fit in candidates is essential. There is a greater likelihood that employees will stay with a business when the work feels meaningful and the company’s values are in sync with their own.