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[USER=78928]@Paul – FS Concierge[/USER] the one other thing I have noticed here and amongst acquaintances is that most business’s don’t account for GST. They get to the end of the quarter and have spent it all because they thought it was their money, which as all good small business people know, we are just holding it for a short period.

In the beginning I always made sure I segregated about 20% of all payments, so at the end of the quarter I could commit my GST and PAYG. Now I have one job which pays monthly (all the rest are weekly), and their payment is sufficient to cover GST/PAYG and my mortgage payment (now savings), so as soon as that payment is received, I transfer the funds to the ATO and my other bank. And by having them pay monthly I am effectively quarantining those funds for safe keeping.

Also as a contingency when this all started to hit the fan, I doubled the contingency I have in my working account, which thankfully I haven’t had to touch.