News
It’s likely you’ve heard about the .au domains now available in Australia but why is there such a song and dance being made about it?
To begin with, it’s worth covering why a .au domain exists then look at why it’s a worthwhile addition to the digital presence for your business.
Other countries already have direct level domains, Canada for example uses .ca and now, Australians (businesses of course too) have access to our own direct level domain – you guessed it, it’s .au. Direct level domains are as they sound, just a more direct country code whereas in the pastAustralia has only had access to second level domains like .com.au, .gov.au or.net.au
The new addition gives businesses in Australia a shorter domain with less restrictions than the second level domain counterparts.
.au direct .domains are open to anyone with a verified connection to Australia wanting to create or manage an online presence and it’s important to register yours before another party purchases the one most fitting your business.
From March 2022 – September 2022 there was a pre-registration process whereby you could apply for your .au domain before they were officially introduced. Pre-registration was made for businesses to reserve the .au that fit their existing .com.au domain (yourdomain.com.au goes with yourdomain.au).
If you didn’t pre-register, you still may get priority on a domain that fits your business, but don’t delay before you proceed with it…
There is a chance someone else will be able to register the .au you’re after which could leave you with a situation in which you are negotiating with the new owner on a buy-back of the domain. With someone else owning your .au, you may lose valuable web traffic and visibility on search platforms.
As it stands currently, the jury is out on how the .au domain will effect your SEO, but in theory the .au will likely have a more positive implication on your SEO overtime due to the brevity of the domain and the specificity of the country code.
For example, ifsomeone searches for a finance broker in Australia the algorithm will includepreference for location and how appropriate the domain is as part of theresults it displays.
But! And, furtherto this, there is currently no requirement to have an ABN when registering the.au domain, it simply requires a “verified Australian presence”, which doesopen them up to fraudulent activities when compared with their .com.aucounterpart. As you’re likely aware, the .com.au requires an ABN and other specificsthat ensure domain owners actually operate commercial entities in Australia.
With the limitedrestrictions on the purchase of a .au, your SEO ranking COULD be negativelyimpacted if someone else registers and uses the domain for less than desirablepurposes. As we get to understand more about the impact on SEO, we’re beingcautious here … So, here’s what wesuggest is the best course of action:
1: Purchase your.au domain (if you haven’t already)
2: Redirect the .auversion of your domain to your existing domain and monitor results for whichdomain is most frequently visited.
With some timebehind you, you may choose to move everything to .au (email included), but it’simportant to cover all bases first to ensure you don’t hurt your businessbefore the results are in.
From a businessperspective, we understand the importance of a well set up web presence and theimpact it can have on getting and keeping customers.
Although IT isn’tour specialty, some of our partners and clients can help with the process ifyou need it, so feel free to contact the Attune team on 1300 866 113 or send us an email and we can point you in the right direction.
As business owners we must be acutely aware of the various obligations we have when it comes to reporting not just with the ATO, but also with ASIC. And, although all companies should keep sound financial records and reports, some types of companies need to keep these records for the purpose of preparing and lodging financial reports with ASIC regularly.
So where does your company fit and what is required of you?
Well, companies must lodge regular reports where:
Section 292 of the Corporations Act 2001 (CorporationsAct) requires the following entities to prepare financial reports:
The Corporations Act defines each of the above companies andASIC provides some very handy information here.
Depending on your situation and the type of company you operate there’s more details to be aware of, so if you’re unsure of what is required of your business, it’s worth getting in touch with the Attune team for your complete set of requirements.
It’s also worth noting that there can be different types of auditor financial report relief available depending on the type of company you are, so we suggest you check out the details on the ASIC website or speak with us to understand what’s possible for you.
We’re here to give you and your business sound, strategic advice when you need it, so if you’re looking to understand your ASIC and ATO reporting obligations, speak with the Attune team today on 1300866 113 or send us an email.
When we talk about high-achievers we often associate their success with brains, IQ, talent, looks or physical fitness, but as it turns out, these traits aren’t all there is to the story.
The TED Talk below, delivered by Angela Lee Duckworth who left a high-flying consulting job in the US, to teach grade seven maths in a New York public school reveals what she believes makes a high achiever.
Ms Lee Duckworth’s teaching gig showed her that grit was a massive factor in how her students both performed and progressed. She explains her theory of "grit" as a predictor of success.
Take a look below:
Traditionally when we hire, we look at things like university grades, tertiary qualifications, previous work experience with big brands or competitors, but could we do better with our talent selections if we dug a little deeper?
Those references that come with a resume could be the source of truth that sets your business apart from your competition, sure, but what about looking beyond that.
Can you ask questions that give you an indication of the person’s grit and real work-ethic?
Can you learn about how the person navigates difficult situations? How they operate under pressure or when there’s a “mountain to climb”?
Perhaps grit could be the deciding factor in your next hire…
If you’re considering adding staff to help your business grow and wondering if it fits your financial goals, give the Attune team a call on 1300 866 113 or send us an email and we can give you the strategic advice you need to kick goals.
If you’ve made a mistake on your Business ActivityStatement (BAS) – never fear, it is usually an easy fix! There’s always a few ways around it, depending on your circumstances so read on and see which might apply to you.
It’s always nice when the mistake goes in your favour, and if you’ve noticed that you have overpaid GST on a previous BAS, the ATO gives you four years to correct it (from the date the incorrect BAS was lodged).Simply pick up the additional GST refund in a future BAS and the ATO will consider you all squared up.
Sometimes picking up the GST adjustment on a future BAS can be easier than amending a prior period BAS (more on this later) so when you do have this option, its usually the most simple option.
It happens, but it’s not the end of the world either. You’ll still need to make the adjustment on one of your nextBAS lodgements, but for this scenario it’s dependant on your turnover …
• If your annual turnover is less than $20 million, the adjustment must be made (and paid) within 18 months.
• If your annual turnover is MOREthan $20 million, the adjustment must be made (and paid) within 12 months of the mistake
Generally speaking it’s easier to correct a GST error on a later activity statement rather than revising the incorrect one, but it’s worth speaking with the Attune team if you’re in this situation to ensure you’re not liable for penalties or general interest charges before taking any serious action.
So, having said that we should briefly touch on …
If you’ve fallen outside the adjustment period and you are required to amend a prior period BAS please reach out to the Attune team for assistance. It’s important to act fairly quickly after you realise there’s a need for adjustment.
If you have access to your statements online, you can follow the ATO instructions (here),but if there’s already a need for amendment it may be worth getting sound advice and help in doing what’s required rather than potentially creating further issues – it’s part of what we’re here for after all!
In addition to that the ATO may impose general interest charges or penalties upon lodgement of the amended BAS, which we could assist you with navigating if the situation arises.
If you’re looking for tailored, strategic advice when it comes to your business and personal finances, or indeed an expert to manage them for you, give the Attune team a call on 1300 866113 or send us an email to start the conversation.
