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Small Business Restructuring

The Small Business Restructuring (SBR) Process provides financially distressed small businesses with a simplified and cost-effective mechanism for reorganising and recovering from financial difficulties. Simplified debt restructuring has been introduced in order to remedy some of the perceived problems with voluntary administration, particularly for small businesses or SMEs.

Small business owners can benefit from closely monitoring their financial records and key indicators to identify early signs of financial distress. Understanding these warning signs can help in addressing potential debt issues before they escalate.

A skilled bookkeeper can provide valuable insights by recognising financial red flags and, when necessary, recommending the engagement of insolvency and business recovery services. Seeking professional assistance at the right time can lead to strategic recovery plans, debt restructuring, and legal guidance, helping businesses navigate financial challenges and work toward stability.

What if a Director Receives a Director Penalty Notice? (“DPN”)

A director penalty notice, or DPN for short, is one of the preferred tools of the Australian Taxation Office (ATO) when it comes to pursuing directors. However, DPNs often come as a surprise to directors trying to maintain their business in the post-pandemic economy.

The DPN regime makes directors personally liable for a company’s tax debts for PAYG, GST, Luxury Car Tax, Wine Equalisation Tax, and superannuation guarantee charge (SGC) debts. This exposure, however, only occurs after the time period set in the DPN has passed.

If there’s one clear trend to take away from the past year, it’s the ATO’s growing willingness to issue DPNs to clients who do not comply with tax regulations. When it comes to DPNs, the risk of personal exposure largely depends on whether your client has received a non-lockdown or lockdown DPN.

If you’re unsure of the distinction between these two types, we recommend reading the in-depth article on DPNs for more details. DPNS – What You Need to Know and Avoiding Personal Liability – Hamilton Murphy for more information.

If a director receives a non-lockdown DPN, it’s important to take action quickly so they can avoid personal liability. By starting an SBR within twenty-one (21) days of receiving a DPN, a company director can avoid being held personally liable for the amounts demanded under the DPN. Once the SBR is successfully completed, the ATO must compromise on any remaining portion of the debt following the dividend paid to creditors.

If a director has received a lockdown DPN or a DPN with a lockdown and non-lockdown portion, the Director will be made personally liable for the full amount of any lockdown portion. In this instance, if any SBR or other insolvency appointment is initiated, the ATO may seek to recover either the full quantum of their debt or the balance following a dividend of less than 100 cents/dollar.

What if The Director Has a Personal Guarantee?

Directors commonly provide personal guarantees when financing assets. Financiers also typically register a security over the asset on the Personal Property Securities Register (“PPSR”). Personal guarantees are commonly used in business loans, leases, and trade agreements to provide creditors with additional security.

According to insolvency specialists Hamilton Murphy, as long as these finance agreements are managed in the ordinary course of business, financiers rarely rely on personal guarantees to meet the Company’s obligations. Issues generally arise when there are significant arrears on an account prior to the appointment of a restructuring practitioner. In such cases, the financier, as a secured creditor, may utilise their security and the personal guarantee from the director(s) to make up any shortfall arising from a compromise under an SBR.

It’s worth noting that during an SBR, there is a moratorium on creditors taking action under a personal guarantee. Once the restructuring period ends, a creditor holding a personal guarantee is free to pursue the director for the full quantum owed by the Company. In such cases, it is important to seek advice and make arrangements for payment with the creditor.

Key Takeaways

SBRs offer a great opportunity for eligible small businesses to compromise onerous legacy debts swiftly and effectively, helping your clients maintain their relationship with you and position themselves for profitable future trading.

Although an SBR cannot completely eliminate personal liability in the event of a lockdown DPN or personal guarantee, there are strategies to mitigate these risks. When prompt action and guidance from an insolvency expert are taken, your business will be afforded the best possible chance to recover its position.

Your bookkeeper is integral to the success of the Small Business Restructuring (SBR) process. They provide essential financial clarity by maintaining accurate and up-to-date records, which are crucial for assessing the business’s viability and creating a reliable restructuring plan.

ATO Debits Offset ATO Credits

Offsetting occurs when the ATO uses credit from one tax account to pay off a liability on another account, including tax debts or debts with other government agencies. This process is automatic, and credits are applied to tax debts first before being used for debts with other government agencies.

How Offsetting Works

Many business taxpayers have multiple accounts for different tax obligations. If the ATO owes money to a taxpayer, they would typically receive a refund. However, the refund may be reduced or withheld if the taxpayer has an outstanding debt. Offsetting can occur in the following situations:

• Outstanding tax debts with the ATO: For example, a BAS refund may be offset against an income tax debt.
• Previously held debts: The ATO may use credits to reduce debts previously placed on hold.
• Debts with other government agencies: For example, a BAS refund may be offset against a debt with Services Australia.

Generally, the ATO will offset credits against liabilities that are due but not yet payable. A liability is considered ‘due’ when an entity is legally required to pay it, even if the actual payment date has not yet arrived. It becomes ‘payable’ once the payment date arrives.

For Example:

A business files its BAS and owes $1,000 in GST, but the payment isn’t due until next month. The ATO considers the $1,000 due because the business is legally required to pay it, even though the payment date is in the future. If the business has a credit of $500 in another tax account, the ATO might use that credit to reduce the $1,000 debt, even though it’s not yet time to pay.

Contact the ATO Before Lodging

If offsetting will cause financial hardship, an authorised bookkeeper can request a refund on your behalf instead of allowing the credit to be offset against the liability. The ATO may also exercise discretion to reverse the offset after it has occurred if the circumstances at the time warrant it.

If you’re expecting a BAS refund, your bookkeeper can help you understand how the ATO may offset the amount against any outstanding liabilities or other debts — even those not yet payable. Speak with your bookkeeper before lodging to assess the impact on your refund and whether it’s advisable to contact the ATO.

You spend a lot of time making sure your business runs like clockwork. But is your business delivering for you personally, as the owner and/or founder?

In this series, we’ll look at the core ways your business can be structured to deliver on your own personal, family, philanthropic and leisure goals.

A business that supports your personal vision and life goals

When you started your business, you’ll have had a clear idea of how this new venture would provide for you and your family. But, over time, your attention can become focused on the day-to-day operations, with less awareness of how the company is delivering on your own personal and entrepreneurial goals.

In this series, we want to reverse that flow. We want you to think clearly about what you want from life, your business and your wider position as an entrepreneur.

We’ll look at:

Maintaining a healthy work/life balance

Think about how you structure your business to allow for flexibility and time for your own personal pursuits. This could involve working remotely to spend more time with your family, flexible working hours or having the right team to delegate work to.

Securing your lifestyle

Make sure your business generates enough income to support the lifestyle you’re aiming for. This may mean reviewing your budget and expected income, setting financial goals and developing a business model that delivers the revenue you need.

Making enough to retire

If the end game is to retire, you need a nest egg to do this. Funding a comfortable retirement might mean reinvesting dividend income into a pension, exploring tax-efficient strategies and developing a long-term financial plan.

Investing in your passions

What gives you joy outside work? You can use your business as a platform to pursue your passions, whether it’s supporting local charities, promoting sustainability or creating products that reflect your personal and ethical values.

Passing the business to the next generation

Before you retire, it’s important to plan for a smooth transition to the next generation, whether those successors are family members or other members of your existing team. This will mean putting serious thought into succession planning and training.

Helping you set and track your personal goals

Over the course of this series, we’ll explore each of these five goals in more detail. In the meantime, we’re here if you want to track how you’re performing against your personal goals.

Come and have a chat about what you want from your business.

Essential Business Updates for Small Businesses

The beginning of the year is a great opportunity for small business owners to review their operations, update important records, and ensure their systems are working efficiently. Taking the time to organise key areas now can help prevent disruptions, improve compliance, and create a strong foundation for the months ahead.

Update Business and Employee Records

Accurate record-keeping is essential for smooth operations and compliance with legal requirements. Start by reviewing and updating employee details, including addresses, phone numbers, and emergency contacts. This is especially important if staff have moved or changed their contact information.

Payroll details should also be checked to ensure that tax file numbers, bank details, and superannuation fund nominations are correct for all employees, particularly any new hires or departing staff. Errors in payroll information can lead to delays in processing wages or complications with tax reporting.

Employment agreements should be reviewed to confirm they reflect the latest terms and conditions. This is a good time to check if any updates are needed in response to changes in employment laws, business policies, or job roles.

System access should also be reviewed. Former employees should no longer have access to business software, online platforms, or sensitive information. New staff should be given the appropriate access to the tools and systems they need. Keeping these records up to date helps to prevent payroll mistakes, administrative delays, and security risks.

Review Business Software and Systems

Small businesses rely on various software programs to manage their finances, employees, and day-to-day operations. Regularly reviewing these systems ensures they are up to date, secure, and meet business needs.

Start by conducting a software audit to check all subscriptions and user access. Deactivate accounts for former employees and ensure current staff have the correct level of permissions. If your business has grown or changed, it may also be worth considering whether your current software still meets your needs or if better options are available.

Updating software programs to the latest versions helps protect against security vulnerabilities and ensures access to the newest features. This includes accounting and payroll software, customer management systems, and other digital tools essential to running your business efficiently.

Assessing workflows is also important. If any processes are taking longer than they should or feel overly complicated, now is the time to look for improvements. Many software solutions offer integrations or automation features that can help save time and streamline operations.

Strengthen Cybersecurity Measures

Cybersecurity is a growing concern for small businesses, especially when staffing changes occur. Failing to update access permissions or security settings can leave your business vulnerable to data breaches and fraud.

One of the simplest and most effective security measures is to update passwords for shared systems, especially when employees leave the business. It is also recommended to enable multi-factor authentication (MFA) where possible, adding an extra layer of protection against unauthorised access.

Staff should be reminded of best practices for cybersecurity, including recognising phishing emails and using strong passwords. Businesses may also consider enrolling staff in basic cybersecurity training, which can prevent costly security breaches. See Cyber Wardens

Plan for Compliance and Financial Success

A clear plan for the year ahead can help businesses stay on top of their financial and compliance obligations. Creating a compliance calendar with key dates, such as BAS lodgements, payroll tax deadlines, and superannuation contributions, can help prevent last-minute scrambling and missed deadlines.

Reviewing financial goals set at the beginning of the financial year is also beneficial. This allows business owners to assess progress, identify any challenges, and make necessary adjustments. If needed, a financial check-in with a bookkeeper or accountant can provide additional insights and ensure the business remains on track.

Communicate with Your Bookkeeper/BAS Agent

A strong partnership with your bookkeeper can help ensure your business remains financially organised and compliant throughout the year. Regular communication allows them to provide the best support and helps you stay on top of key financial obligations.

Start by scheduling a check-in to review your financial position and discuss any updates that may affect your business. If there have been changes in staffing, payroll, or business operations, your bookkeeper must be informed to ensure accurate record-keeping and compliance with reporting requirements.

Ensure they can access the latest financial documents, including bank statements, invoices, and receipts. Keeping these records up to date makes it easier for them to reconcile accounts, prepare BAS lodgements, and manage payroll efficiently.

Your bookkeeper can also assist in reviewing your financial goals and budgeting for the months ahead. If your business has expanded, changed direction, or faced unexpected challenges, they can provide insights and recommend adjustments to keep your finances on track.

If you are unsure about upcoming compliance deadlines, ask your bookkeeper to help create a financial calendar. This can include key dates for tax reporting, superannuation contributions, and other obligations, ensuring you avoid late fees and penalties.

By maintaining clear and open communication, you can work more effectively with your bookkeeper and set your business up for a productive and financially stable year.

Communicate with Your Team and Clients

Good communication is essential for a well-organised business. Scheduling a check-in with employees can help address concerns, clarify expectations, and ensure everyone is aligned with business goals. If your business works closely with clients, it may also be useful to update them on any changes, new processes, or improvements that will affect them in the coming months.

Taking the time to review records, update systems, and set clear plans now can save time and stress later. By staying organised and proactive, small business owners can set themselves up for a smooth and successful year ahead.

2023–24 Annual Cyber Threat Report Summary

The 2023–24 Annual Cyber Threat Report highlights Australia’s growing cyber threats. Global conflicts, rising tensions in the Indo-Pacific, and advancing technology are providing cybercriminals and state-sponsored hackers with new ways to target governments, businesses, and households. Key risks include espionage, spreading disinformation, and cyberattacks on critical infrastructure.

The Australian Signals Directorate (ASD) is a government agency dedicated to protecting Australia from cyber threats. The ASD monitors electronic communications, defends critical infrastructure, and conducts operations to support national security and military efforts.

In the past year, ASD received over 36,700 calls for help and handled 1,100 cyber incidents. Hackers, often backed by foreign governments like China and Russia, are using advanced tactics to disrupt networks and steal sensitive data. Critical infrastructure such as energy and healthcare are primary targets, as cyberattacks on these sectors can cause widespread disruption.

Cybercrime Continues to Grow

Cybercrime remains a significant threat, with criminals increasingly using advanced tools like artificial intelligence to carry out their operations more effectively. In FY2023–24, common cybercrimes reported in Australia included business email compromise, fraud, ransomware, and data theft extortion. These attacks have led to financial losses, significant disruption, and reputational damage for businesses.

Ransomware: A Growing Threat

Ransomware remains one of the most significant cyber threats, particularly for small and medium-sized businesses. In this form of attack, cybercriminals encrypt data or lock systems, demanding a ransom for its release. Increasingly, attackers are stealing sensitive data and using it for extortion. Businesses that pay ransom do not guarantee data recovery, and often, the attack doesn’t stop with one payment.

Small businesses are particularly vulnerable to these types of attacks, as they often lack the resources to implement robust cybersecurity measures. Ransomware can lead to significant financial losses, reputational damage, and operational disruptions, leaving businesses offline and unable to access critical data.

The ASD advises businesses not to pay ransoms, as it doesn’t ensure data recovery or prevent further attacks. Instead, the focus should be on adopting strong security measures, including regular updates, secure backups, and proactive threat detection systems.

Cybersecurity Is an Ongoing Effort

Cybersecurity isn’t a one-time fix – it’s an ongoing effort that requires constant vigilance. Organisations must prioritise replacing outdated systems with secure-by-design products. These are built with security in mind from the start, reducing vulnerabilities. New technologies should be assessed with security as a key consideration. Following industry best practices, such as the Essential Eight, is crucial to mitigating risks. Regular updates and ongoing maintenance are also essential for strengthening resilience. For critical infrastructure organisations, preparing for a cyberattack should be assumed. Every organisation needs a tested response plan, an understanding of its systems, and a plan to recover from incidents quickly.

Reporting Cybersecurity Incidents

If you experience a cybercrime or security incident, it is vital to report it immediately. Cybercrime reports will be referred to the relevant law enforcement agency, while cybersecurity incidents should be reported through the ReportCyber portal.

Cybersecurity incidents can include:

• Denial of Service (DoS) attacks.
• Scanning and reconnaissance.
• Unauthorised access to a network or device.
• Data exposure, theft, or leaks.
• Malware or ransomware attacks.
• Phishing or spear-phishing attempts.
• Other suspicious cyber activity.

When reporting an incident, be ready to provide indicators of compromise, logs, network traffic captures, or other relevant analysis.

How The ASD Can Help

When you report an incident, ASD provides immediate assistance, including advice on how to contain and remediate the issue. They may also connect you with relevant Australian government organisations for further support. In more complex cases, the ASD may deploy a team of digital forensics specialists to assist with technical investigations.

The ASD encourages every organisation and individual who observes suspicious cyber activity, incidents and vulnerabilities to report to cyber.gov.au/report or the Australian Cyber Security Hotline 1300 CYBER1 (1300 292 371). ASD provides free technical incident response advice and assistance 24 hours a day, 7 days a week. ASD also offers guidance on managing public communications during an incident to protect the integrity of the investigation.

‘Uncertainty’ has been the defining phrase for the first half of the 2020s. The markets are unstable, supply chains have been wobbly and finding talent has been difficult.

But as we head into 2025, and the second half of the decade, what are the major threats, opportunities and challenges that your business should focus on?

We’ve highlighted five of the big business challenges.

Five big business challenges for 2025 (and beyond)

However well-organised you are, there are elements in the external environment that you just can’t control. These external factors can have a serious impact on your ability to trade, grow and turn a profit. So, are you on the ball and ready to tackle them in 2025?

Let’s look at five of the external factors you should be focused on:

Climate change and sustainability

It’s an unpleasant truth, but the environment is in real trouble. As a business, there’s a growing need to demonstrate your environmental responsibility. This means developing a sustainability strategy, investing in green technologies and demonstrating your environmental commitments.

AI and technological disruption

Artificial intelligence (AI) and automation have changed the game in a fantastically short timeframe. Finding the value in this tech is crucial, as well as understanding its limitations. Getting your digital transformation underway will be vitally important in 2025, as will exploring how AI and automation can kickstart your productivity, boost your customer service processes and create a real competitive advantage for the company as a whole.

Skills shortage and transforming your workforce

The ongoing skills shortage, combined with the reality of an aging workforce and changing employment expectations, is a major issue. To overcome the talent challenge, you’re going to need to rethink your recruitment policy, your training and what you do to retain your key people. Things like flexible working arrangements, continuous professional development (CPD) and a great company culture are all ways to attract and maintain your top talent.

Inflation and an unstable economy

The global and local economies are not out of the woods yet. Forecasts may be looking more positive but there’s still the ever-present threat of recession, rising inflation and high interest rates. Getting granular with your financial forecasting will help, as will exploring your options for additional revenue streams, better cashflow management and ready access to business finance.

Regulatory compliance and reporting

Regulatory environments are getting increasingly complex, as governments wrestle with the need for tighter structures. Regulations around your environmental reporting, workplace relations and digital privacy are all likely to get tighter over the coming years. This means allocating time and resources to understanding and implementing the relevant compliance requirements.

Talk to us about overcoming the big challenges

There’s no magic wand that can change these macro environmental and economic factors. But awareness, detailed planning and good use of forecasting can be a major boost.

Come and talk to the Flawless team about your concerns for the year ahead. We’ll help you understand the major external factors and what you can do to make your business more resilient.

New Resources About Pay & Conditions, Enterprise Agreements & Bargaining

The Fair Work system provides the legal framework for workplace relations, setting standards for employee rights, pay, and conditions. These standards, established by the Fair Work Act, are enforced by the Fair Work Commission (FWC) and the Fair Work Ombudsman (FWO). The FWC is responsible for setting minimum wages, resolving disputes, and approving enterprise agreements. The FWO, on the other hand, ensures compliance with workplace laws, investigates breaches, and offers education and guidance on workplace rights.

Compliance with Fair Work requirements is essential for fostering a fair, cooperative, and productive workplace. It also helps businesses avoid penalties, manage risks, and maintain legal compliance when handling critical aspects such as pay, entitlements, enterprise agreements, and bargaining processes.

Understanding these requirements enables businesses to build stronger relationships with their workforce while upholding their legal obligations.

To support employers and employees, the FWC, in partnership with the FWO, has launched new online resources to simplify the complexities of workplace laws. These tools provide clear insights into workplace rights and responsibilities, explain how bargaining influences these rights, and highlight the importance of enterprise agreements in shaping effective workplace practices.

For business owners and employers, these resources offer practical and accessible guidance to navigate workplace laws confidently. Covering crucial areas like pay, entitlements, and agreements, the tools are designed to help businesses manage their obligations efficiently.

By staying informed and leveraging these resources, employers can create fairer workplaces, mitigate risks, and ensure a compliant and productive environment.

FWC Online Learning Portal

The Online Learning Portal features clear and straightforward training videos that explain how the different parts of the Fair Work system connect. The National Employment Standards (NES) set the minimum rights for all employees, while the National Minimum Wage provides the lowest pay rate that must be met.

Awards set out industry-specific pay and conditions, and enterprise agreements are negotiated at the workplace level, offering tailored conditions that must meet or exceed the NES and awards. Employment contracts can provide additional terms but must align with these legal requirements, ensuring fair and consistent workplace conditions.

These videos offer practical insights into employee pay and entitlements, detailing where they come from and how awards, enterprise agreements, and contracts interact. They also cover what enterprise agreements are, how they’re created and when they apply, and include a small business case study.

Additionally, the videos outline the key steps in effective bargaining, including the roles and responsibilities of each party. These resources are helpful for anyone looking to understand workplace rules with ease.

Visit the Online Learning Portal to access supporting resources:

Further Resources

• Download the written summary Understanding employee pay and entitlements (PDF) (DOCX).
• Read Making an enterprise agreement case study (PDF) (DOCX) to see how a small business tailored pay and entitlements for their workplace.
• Watch other videos in this series: Understanding enterprise agreements and Understanding bargaining.

Who Can Help?

If you have any questions about Fair Work requirements, the Fair Work Commission (FWC) and the Fair Work Ombudsman (FWO) are the two key agencies to consult. Together, these agencies play a crucial role in maintaining fair and consistent workplace standards across Australia.

As the New Year approaches, it’s a season filled with joy, celebration, and family gatherings. Yet, for small business owners, the festive period also brings unique responsibilities, especially when it comes to supporting your bookkeeper in managing annual shutdown tasks.

During the holidays, diverse work arrangements and employee leave schedules can create complexities. Some staff are gearing up for annual vacations, others stay on to keep operations running, and there are those with limited leave who may face challenges working around holiday schedules. Your bookkeeper is critical in ensuring smooth payroll processing, tracking leave accurately, and keeping your business compliant.

To ease the holiday workload, work closely with your bookkeeper to confirm any specific requirements, leave policies, and deadlines. Provide any necessary documentation well in advance, communicate clearly with your team about holiday expectations, and encourage everyone to plan for potential closures. Supporting your bookkeeper with timely information and a well-organized schedule will help make this season smoother for everyone involved, setting the stage for a fresh start in the New Year.

What is a Shutdown?

According to the Fair Work Ombudsman, a ‘shutdown’ or ‘close down’ is when a business temporarily closes during a specific period. The reasons may be that it is not viable for the business to operate during this period because it could be a quiet time, or many staff might be away on leave.

The complexity comes when working with varying awards or working conditions and when there is a mix of people going on leave, some remaining at work, some that have no leave, and those that want to work but cannot.

* A shutdown is not the same as a stand down. Reasons for stand down are when employees cannot be usefully employed due to various circumstances, including stoppage of work for reasons for which the employer cannot reasonably be held responsible.

Shutdown Payments Explained

Recent updates to awards (as of May 2023) mean that small business owners must carefully follow new rules when planning a holiday shutdown. Here’s a straightforward guide on how these rules impact employee leave and payment during this period:

• Annual Leave Requirement: You may require employees to take paid leave during a shutdown. You must provide at least 28 days written notice to all impacted employees. The notice period can be reduced through an agreement between the employer and the majority of impacted employees.
• Reasonable: The requirement to take annual leave must be reasonable.
• Options for Insufficient Leave: If employees lack enough leave, you can agree on alternatives like accrued time off, leave in advance, or unpaid leave. These agreements must be in writing.
• Pay During Shutdown: Full-time and part-time employees must be paid if they take leave during the shutdown, while casuals aren’t paid for this time as they’re paid only for hours worked.
• Follow Your Award or Agreement: Some awards allow requiring leave during a shutdown, while others allow only requests. If the award does not specify then employees cannot be forced to take leave or go unpaid without an agreement.
• If Leave is Insufficient and No Agreement: If an employee lacks leave and doesn’t agree to unpaid leave or leave in advance, they’re entitled to their usual wages.

Public Holidays

Public holidays impact employee pay and leave, especially during shutdowns.

Public Holidays During Annual Leave

If a public holiday falls during an employee’s annual leave, it is treated as a regular public holiday, not as part of their leave. The employee will be paid for the holiday as if they had worked that day, and their annual leave balance won’t be affected.

Example: If Mary, a full-time employee, is on annual leave for 7 days, including Anzac Day (a public holiday), she will be paid for Anzac Day separately, using only 6 days of her leave.

Public Holiday Pay and Sick Leave

If an employee takes sick leave around a public holiday, they are still entitled to public holiday pay, provided it’s a day they would typically work.

If an employee is rostered to work on a public holiday but calls in sick, they won’t receive public holiday pay unless they are on paid leave.

Employees Working on Public Holidays

Employees who work on a public holiday are entitled to their base pay plus any additional entitlements as specified in their award or agreement. This may include:

• Public holiday penalty rates.
• Extra day off or additional annual leave.
• Minimum shift length (e.g. 4 hours).
• Agreements to substitute another day for the public holiday.

While employees cannot be forced to work on a public holiday, you can request it if reasonable, considering factors like the employee’s family responsibilities, pay rates, business needs, and their typical work schedule.

Employees Not Working on Public Holidays

Employees (except casuals) who would usually work on a public holiday must be paid their base rate for that day. This rate doesn’t include penalty rates, loadings, overtime, allowances, or bonuses.

You cannot change an employee’s schedule to avoid paying for a public holiday.

Example: If Steven is a part-time employee who only works Tuesday to Thursday, and Anzac Day falls on a Monday, he is not entitled to public holiday pay because Monday is not a regular workday for him.

Tips to Assist Your Bookkeeper

As a small business owner, preparing for the holiday shutdown requires careful planning to support your bookkeeper and ensure a smooth, compliant break for all employees.

Here’s what you need to do:

• Notify Employees of the Shutdown
  Give all employees at least four weeks’ notice of the planned shutdown dates. This advance notice helps employees plan their leave and allows your bookkeeper to begin preparing payroll accordingly.
• Collect Leave Confirmations
  Ask employees to confirm their leave plans for the shutdown period. Work with your bookkeeper to ensure all necessary forms are completed and submitted, clarifying leave dates, intentions, and any special considerations.
• Account for Public Holidays
  Review the calendar with your bookkeeper to identify public holidays during the shutdown. This is essential for accurate payroll and ensures employees receive the correct entitlements.
• Determine Work Schedules During Shutdown
  Confirm if any employees will be working during the shutdown or on a public holiday. Communicate any special pay rates, penalty rates, or adjustments that will apply. Clear communication helps prevent misunderstandings and reduces payroll issues.
• Plan the Pay Schedule
  Decide when leave payments will be made — during the usual pay cycle, before Christmas, or at another agreed time. Share this plan with your bookkeeper so they can manage payroll and ensure employees know what to expect.
• Prepare for the Shutdown Pay Run
  If a pay run falls within the shutdown period, let your bookkeeper know about any specific instructions or changes. Since holiday processing can take longer, allow extra time for the pay run to ensure it is completed smoothly and on time.
• Communicate and Collaborate with Your Bookkeeper
  Throughout the shutdown planning, maintain open communication with your bookkeeper. Ensure they have the information they need to process leave, adjust payroll, and finalise end-of-year tasks.

Following these steps will help you support your bookkeeper effectively, keep employees informed, and ensure a successful transition into the New Year.

A Cyber Warden Bookkeeper Adds Value to Business

In today’s digital age, cyber threats are a growing concern for small businesses. With 43% of cyber-attacks targeting small enterprises and each breach costing an average of $46,000, the need for robust cybersecurity measures is more critical than ever.

If your Bookkeeper has already completed the Cyber Wardens course, you’ve gained a valuable ally in protecting your business from these threats.

The Cyber Wardens initiative, developed by the Council of Small Business Organisations Australia (COSBOA), equips small business professionals with the skills and knowledge needed to secure their digital environments. A Bookkeeper who has completed this course is more than just a financial expert; they are now a proactive defender of your business’s sensitive information.

How Your Cyber Warden Bookkeeper Adds Value
By completing the Cyber Wardens course, your Bookkeeper has significantly enhanced their ability to safeguard your business against cyber threats.

Here’s how this added expertise benefits you:

Advanced Protection: Your Bookkeeper is now well-versed in identifying and protecting crucial business data. This means they can implement effective strategies to secure your financial information from potential cyber-attacks.
Proactive Defence: With their new knowledge, your Bookkeeper can spot and neutralise common scams and digital threats before they impact your business. This proactive approach helps prevent costly disruptions and losses.
Team Leadership: As a trained Cyber Warden, your Bookkeeper can promote cyber safety practices within your team, ensuring that everyone in your business is aware of and follows essential cybersecurity protocols.
Confidence and Peace of Mind: Knowing that your Bookkeeper has undergone this specialised training gives you confidence in their ability to protect your business. It’s one less thing to worry about as you focus on growing your enterprise.
Cybersecurity as a Value-Added Service
Your Bookkeeper’s cybersecurity expertise is an invaluable addition to the services they already provide. Beyond managing your finances, they now play a crucial role in safeguarding your entire business from digital threats. This dual role enhances the overall security of your operations and demonstrates their commitment to your business’s success.

By taking this course, your Bookkeeper has gone above and beyond to ensure they are fully equipped to meet the challenges of today’s digital landscape. Their proactive stance on cybersecurity reflects their dedication to providing comprehensive, high-quality service to your business.

A Course for Everyone
The Cyber Wardens course isn’t just for Bookkeepers; it’s available to all small business owners and their teams. This course is designed to be accessible, offering straightforward, jargon-free training that anyone can benefit from, regardless of their technical expertise. Whether you’re a business owner, a staff member, or a supplier, this course empowers you to play a crucial role in protecting your business from cyber threats.

A Future-Proofed Partnership
As cyber threats evolve, a Bookkeeper who is a trained Cyber Warden ensures your business is better prepared for the future. They can inform you about emerging risks, recommend best practices, and help you stay ahead of potential cyber-attacks. This proactive approach keeps your business resilient and secure.

With a certified Cyber Warden as your Bookkeeper, you gain a financial expert and a partner in protecting your digital assets. Their enhanced skills offer peace of mind, knowing your business is in capable hands.

If you’re not yet benefiting from a Cyber Warden Bookkeeper, reach out to see how they can help fortify your business’s defences. The Cyber Wardens course is available to everyone in your business – take this opportunity to strengthen your cybersecurity. For more information, visit Cyber Wardens – ICB – Enrol now and see how this initiative can enhance your Bookkeeper’s and team’s services.