The Fiscal Artisan

  The Director ID system is now in place. Please take action on this asap. The Federal government have now set up an identification system for all company directors in Australia.   Like your Tax File Number or an ABN, it is a unique identifier used with all entities in which a person holds a director’s position. i.e. the number is ‘attached’ to the person, not the company.   The intention is that this system helps to deal with false directorships or fraudulent director identities. It will also deal with the common situation of multiple names being used for an individual (such as middle names being included or excluded with different directorships.   The number itself is a 15 digit code that adheres to international standard ISO 3166. All Australian Directors will have a number that starts with ‘036’, followed by an 11 digit unique number and a ‘check digit’ that is used to determine the validity of the number being used (This is similar to the TFN and ABN numbers in terms o

  When your Oxygen supply becomes your water leak! Lessons in business from the fish tank of life. Those of you who have been to my office, or perhaps seen the background on our Zoom chats, will know that I have a fish tank just behind my desk. Freshwater Tropical Fish.  They are relaxing to watch and provide a nice vista in the room. Watching the freshwater mussel wander around the tank is fascinating!  (Who knew they moved around so much?)   Anyone who has kept an aquarium knows that regular maintenance is needed. Clean the tank, the filters, test and change a portion of the water. Feed the fish (of course!), re-vegetate or decorate the tank. And at times, deal with illnesses, or restock the tank. A few weeks ago, after doing a water change in an evening, I came into the office the following morning to find a disaster had occurred.  The oxygen pipe – which 'bubbles' Oxygen through the water in the tank – had come loose from its pump.  The oxygen pipe became a wate

  I’ve got the Lockdown Blues - cause I can’t play to a crowd!       With the series of lockdowns and curfews occurring in Victoria since May 27, 2021, one of the most affected areas, is the performing arts industry.   Singers, musicians, writers, actors, and also the associated crew and support, including technical, retail and merchandise, and event promotion staff and businesses have been shut down throughout the strate, with little or no support. Even as venues open, density limitations have meant that many places have cancelled performances that had been booked months in advance. Many of the people affected have not qualified for the various business support grants, usually because the

  If your Business Feels like you are  scaling Everest, It's Time to Go Beyond The Numbers. You have done more in the last financial year than just survive, but it has been hard! This is the time that we turn our attention to our year-end obligations – namely, preparing financial statements and preparing tax returns, and looking at how well (or otherwise) we have done for the year. For many, the financial statements and tax returns that we prepare are a ‘historical document’. It is a look at the numbers ‘in the past’. But what it can be, is a roadmap to the future – the starting point to your next trek. What do you have your sights set on for 2021/2022? How can we Go Beyond The Numbers to help you achieve it? With another financial year over, and one which for so many will have been one of the hardest ever faced, it is beneficial to look at your current situation and reflecting on your successes, not just what has or has not happened. For many, being in business is a bit li