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August 3, 2021 at 6:28 pm #1229881Up::0
Job Saver payments have started to come through for NSW businesses.
Have you received your payment ?July 21, 2021 at 5:07 pm #1228933Up::0Hi Chris
I suggest you log on to http://www.canstar.com.au and compare banks and fees.
This is a good start.
Chris
April 24, 2021 at 1:36 pm #1227187Up::0Margins can vary from industry to industry and it really depends on factors like competition in terms of what you can charge.
A 55% margin is one that many successful businesses have so looks like you are on a good thing.Off course you should always review your margins on a regular basis.
Best of luck
April 12, 2021 at 10:13 pm #1226988April 12, 2021 at 10:10 pm #1226987Up::0Hi
There’s a lot of advantages to salary packaging especially including a motor vehicle. Basically you use your before tax or gross wages to pay your monthly car lease. This is much better than using after tax or net wages.Like most things you need to compare how this will impact your take home pay so you need to run some comparisons.
April 12, 2021 at 5:11 pm #1226962Up::0Yes good point , then in that case
Assuming the distributor wants to make a 18% margin their buy price from you would be $12.27
How does the $12.27 make your profit look ?
April 12, 2021 at 3:57 pm #1226954Up::0Hi Biz Keeping
A retailer gross margin of 25% means they are willing to pay the distributor $14.96 to sell it at $19.95 RRP
Assuming the distributor wants to make a 50% margin their buy price from you would be $7.48
You need to make sure the $7.48 covers your cost to make your product and factors in a profit to you.
Hope this helps.
April 7, 2021 at 9:57 am #1226888February 23, 2021 at 10:51 am #1224841Up::1Hi [USER=79034]@heylouise[/USER]
My advice would be to test out your idea on potential customers to see what problem you can solve for them. Talking to potential customers is the best way to see if your idea has potential.
Do all of this before you start will also give you a better idea of whether you need to modify your idea or not.
Best of luckFebruary 21, 2021 at 9:29 am #1224832Up::0Hi [USER=116344]@Nwilson[/USER] . Well as a Virtual CFO I’m not affiliated with any of them and I have to say that any of the major accounting software packages like Xero, MYOB and Quickbooks are all top rate. They are very similar and have all the latest tech to make your life easier and are up to date with all the local tax requirements.
The harder question is what does the reporting say about the state of your business that you may not already know.
February 21, 2021 at 9:23 am #1224835Up::0good tip [USER=117305]@robdash[/USER] given how freight rates are over the moon right now and no signs of coming back to earth any time soon !
February 21, 2021 at 9:18 am #1224823Up::0To clarify [USER=53375]@bb1[/USER] the point I was making is that tax on a second job can be tricky and you don’t want to have a tax debt at the end of the year on money you have already spent.
The main thing is to plan for it and avoid those bad surprises.
February 16, 2021 at 11:03 am #1224820Up::0Hi [USER=120830]@Plasterer92[/USER]
Dave is correct both incomes are added together and you pay tax on it after what’s left after subtracting your expenses .
A few things to note
1. Check with your plastering job if your Tax file nomination form answered the question that you only have one job. This is important because the first $18,200 of your income is tax feee.
2. You will pay tax on your second job so you need to know how much this is going to be. This may also impact how much fees you will charge. You may be better off charging less if it means paying less tax. The tax rates will help in this .
Best to chat to an accountant on this so you know in advance.
Happy to help if needed .
February 12, 2021 at 6:43 am #1224817Up::0Hi Rob
This is so true. Freight costs from China went through the roof at the end of last year and no end to the hikes this year so far. Most clients made sure they were stocked up before Chinese New Year but it’s a tricky balance.
February 6, 2021 at 6:00 am #1224777 -
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