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Risk management should be central to life and business. At Porters CA we see two simple key imperatives – (A) achieve your goals; (B) plan and manage the risk of not achieving your goals. With the WA borders set to reopen on 5 February it is time to start contingency planning. Absent a major surprise we are looking at a high and rapid incidence of Covid with: interruptions to business…  Read more

Are you looking for an opportunity to build your skills as a Bookkeeper in a professional and supportive environment? Porters CA offers you an opportunity to grow, assisted by strong systems and procedures in a supportive and friendly workplace. Training and career development is offered so you can become your best for a bright future. We are a boutique firm, mixing excellence in tax compliance and bookkeeping with a personal…  Read more

Solid cash flow management is vital to ensuring your business survives and thrives but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. Cash flow refers to the movement of money into and out of your business. It is based on the amount of money you bring in minus the amount you spend.…  Read more

A Quick Overview The Superannuation Guarantee (SG) is scheduled to increase to 10% from 1 July 2021. If you have employees, you need to be ready for this legislated increase. What is Superannuation Guarantee? The Superannuation Guarantee is the minimum super an employer must pay to their employees super fund. The current SG percentage rate is 9.5% of employees Ordinary Time Earnings, but this is changing. Ordinary Time Earnings or…  Read more

Treasurer Josh Frydenberg has released the 2021 Federal Budget and confirmed Australia’s economy is performing more strongly than was expected six months ago. This article has a summary of the “Winners and Losers” of the Budget and we’ve compiled a recap of the key points below. Get in touch with us if you have any questions. A Quick Overview This budget assumes our international borders won’t reopen until mid-2022. $1.9…  Read more

Instant Asset Write Off (IAWO) and Full Expensing of Depreciating Assets (FEDA) Who doesn’t love a tax deduction? With IAWO and FEDA alongside low interest rates and a strong economy there is an opportunity to invest in productive assets to supercharge your business growth. In brief – when you buy an eligible asset you will claim 100% of the cost as a tax deduction. For a small business with assets…  Read more

When it comes to the overall success of your business, one of the most important decisions you’ll face is what to charge for the work you do. Charge too much and you could scare away potential customers. Charge too little and you could run yourself out of business. Working out how much to charge is stressful, but it’s worth it. If your business doesn’t bring in enough money to pay…  Read more

It is impossible to predict the future of a business with 100% accuracy however a cash flow forecast can help you prepare and plan for a range of possible future scenarios, good and bad otherwise. A cash flow forecast and scenario plan will help you make better financial decisions, help you keep on top of your finances and improve financial outcomes. Cash flow forecasting involves estimating how much cash will…  Read more

Xero is a fantastic business tool and you want to get the most out of it to maximise your financial management. If you’ve just started working with Xero, it is normal to make a few errors while learning. We see mistakes that are quite common – and unfortunately costly to go back and correct at end of year. We want you to get the most out of the system giving…  Read more

Everyone wants to achieve financial independence beyond a basic wage. In the current climate, many are looking to invest in property. Interest rates are at an all time low and don’t look to be rising any time soon and reports from economic forecasters suggest housing prices are set to jump.  Property prices in Australia in March 2021 grew at their fastest rate since 1988 and as Vanguard explains, the surge…  Read more

Our Albany office is looking for a full time Bookkeeper to join our growing team. Porters CA is a boutique Accounting firm with offices in Perth & Albany that operate as a unified team, mixing excellence in tax compliance & bookkeeping with a personal touch & a view that opportunities are everywhere. Our goal is to create Prosperity and GREAT experiences for our Staff and Business Clients. Work is meant…  Read more

There is no separate fringe benefits tax (FBT) category for Christmas parties. You may encounter many different circumstances when providing these events to your staff. Fringe benefits provided to, an associate, or under an arrangement with a third party to any current employees, past and future employees, and their associates (spouses and children), may attract FBT. Implications for FBT The following explanations may help you determine whether there are FBT…  Read more

Good personal finance skills are important but this seemingly simple concept can be difficult to master. Without knowing how to manage your money effectively, you run the risk of making financial mistakes that could significantly impact your life. Avoid money traps and manage your finances better with the following common sense financial tips. 1. Not all ‘tax effective’ investments are good investments. The term ‘tax effective’ is used loosely and…  Read more

Planning for success means taking control of your future. In 2010 Richmond CEO, Brendon Gale, laid out a 10 year plan for the club including three premierships by 2020. Following no premiership in 30 years, this was no easy task and bordered on fanciful. I am not a Richmond supporter, but I admire what they have achieved. The CEO laid out a plan for “winning together”. We think it is…  Read more

The past six years have been tough for Perth’s property market but maybe the tide has turned. Perth dwelling values fell by more than 22% from highs in June 2014. For any home or investment property buyers from 2008 onwards, breaking even on a subsequent sale has been a measure of success. Regional markets are also booming. You will struggle to find a rental property, a holiday home, a vacant…  Read more

October has been a busy month for us. We have been fundraising for and participating in a range of community events to raise money for valuable charities, research and services. It is inspiring and rewarding to have the opportunity to participate in fundraising events. We have connected with so many like minded individuals who share a goal, to make a difference. Donating to a cause or participating in community events…  Read more

When you’re a small business owner, your to-do list is often long and constantly growing. There are an overwhelming number of things need to be done and it can seem they’re all urgent. It’s easy to push important tasks to the side and focus on less-vital activities but that often means you miss deadlines, make mistakes and feel as though you’re always trying to catch up. Create a list and…  Read more

Fairy tale touring notes from an accountant? Stick with us, it could be fun and you could be the Hero in this tale… We love to guide clients from financial anxiety and a mess of paperwork to a better place with systems, process and control to free up time and achieve their goals. Valley Of Despair A Travel Guide You only visit The Valley of Despair on your way to…  Read more

Our August update is designed to keep you informed of the latest options available to business in response to Covid. Cashflow Boost Estimator Employers who are eligible to receive cashflow boosts can calculate the credits they may receive using the FREE cashflow boost estimator which you can download here. Those who received an initial round of cashflow boost will be eligible for a second round of assistance when they lodge…  Read more

The pains caused by a recession can be brutal and most of us dread the thought. A recession can mean massive layoffs, fewer jobs and wages frozen, which means consumers spend less and in turn worsening the economic slowdown. If we look at the effects of the Global Financial Crisis (GFC) of 2008, between December 2008 and December 2010, about 1.8 million small businesses closed. According to Investopedia one decade…  Read more