Tax Commissioner Warning
Advisory Services News - Issue 72
Good day!
Welcome to this update on ESS BIZTOOLS ADVISORY SERVICES NEWS.
TAX COMMISSIONER WARNING
“You must understand that if your business model is high-volume, low margin, simple tax returns, your business will not be viable 3 – 5 year’s time”.
“You should be looking to diversify to remain viable longer term”.
“Focus on becoming a brilliant and trusted advisor”. Chris Jordan – former Australian Tax Commissioner at Xercon 2022
“REDUCED NEED OF THE BOOKKEEPER”
The Crunch 2024 Annual Accounting Firm Benchmark Report produced by Benchmarking.com.au with insights from co-authors Mark Holton and David Smith of SmithInk commented:
“The number of bookkeepers in Australia is set to fall 5.6% over the next 5 years (Australian Government, Labour Market Insights). This reflects the continued decline in demand for bookkeeping services from business owners. However, this offers opportunities for re-skilling these positions into more strategic and advisory roles.”
WIDESPREAD CHALLENGES WITH DEBTORS AND SUPPLIERS
In an article in the “Financial Review” in February 2024 MYOB CEO Paul Robson commented on a MYOB survey of 1,000 business owners which revealed there were widespread challenges with Debtor Management, Supplier Payment Terms and Payments to the Australian Taxation Office.
ESS BIZTOOLS has been supplying “Financial / Commercial / Management Accounting Advisory Services Tools to Bookkeepers, Accountants and Business Advisors for 25 years. We are keen to assist Bookkeepers to upskill to meet the challenges that SMEs are facing therefore enabling Bookkeepers to offer a range of Advisory Services which will create a diversified range of services and income.
We are aware of the difficulties in making a decision to diversify service offerings when there are uncertainties in the marketplace. For these reasons we are inviting you to consider a 12 month subscription to the ESS BIZTOOLS “Advisory Intro Package” (which was specifically developed to assist Bookkeepers to offer a diversified range of Advisory Services) for $499 including GST which represents a 50% discount.
Why not join us for a Complimentary Webinar on Thursday, 20 February 2025 at 10.00am AEST for an overview of some of the services that you could offer with the benefit of our training program and the resources which are available to our Advisory Intro Member /Subscribers?
You can register for the webinar by logging on to www.essbiztools.com.au and click on webinars.
If you are unable to attend the webinar but you would like to receive a link to the webinar recording please register and we will send the recording link to you. If you would like to know more information about our packages please send us an email or Telephone (07) 4724 1118 and we will arrange a complimentary Zoom meeting with you and your colleagues.
Thank you for reading our communication.
