Featured Image

2021 Federal Budget providing a boost for Small Biz

The federal budget was announced on 11 May 2021 and provided a range of measures to help small business owners and businesses recover from the impact of COVID-19 and boost business confidence. Here is an overview of the announcements that are likely to have a positive impact on small businesses.


  • Corporate tax rate for SME’s will drop from 27.5% to25% from 1 July 2021.
  • The government has also extended its temporary full expensing of depreciable assets for business, with turnover or income below $5 billion. The measure introduced in last year’s budget will be extended for another 12 months until 23 June 2023.
  • The temporary loss carry-back scheme will be extended by one year, allowing eligible companies to carry-back tax losses from the 2022-23 income year to offset previously taxed profits as far back as 2018-19 income year. Companies with aggregated annual turnover of up to $5 billion can apply tax losses incurred during previous years to offset tax paid in 2018-19 or later years.
  • Small craft brewers and distillers will benefit from an increase in the cap for claims on the Excise Refund Scheme from $100,000 to $350,000 from 1 July 2021.
  • The Government announced increased rights for small businesses to pause the collection of disputed debts. Small businesses can now have the confidence and peace of mind that they will be able to pause ATO debt recovery actions until their case is decided by the AAT. For more detail visit https://budget.gov.au/2021-22/content/factsheets/download/factsheet_tax.pdf

Instant asset write-off to be extended and limit lifted

  • One of the best tax breaks for many businesses is the instant asset write-off, which offers a means to acquire capital assets and obtain an immediate tax deduction. Examples of ‘assets’ put forward by the government include coffee machines, forklifts, tractors, freezers and labellers.
  • The scheme was due to expire on June 30, 2022, but Treasurer Josh Frydenberg announced in the Federal Budget thatit will now continue until June 30, 2023. You can read more about it and how you can use B2Bpay to take advantage here.
  • There is also now no cap on the scheme, which originally has a cap of $150,000 for purchase.

Financial incentives for employing staff

  • The government has also extended its temporary full expensing of depreciable assets for business, with turnover or income below $5 billion. The measure introduced in last year’s budget will be extended for another 12 months until 23 June 2023.
  • $1.2 billion towards the Boosting Apprenticeship Commencements Wage Subsidy program, which will cover 50 per cent of wages, up to $7,000 per quarter for 12 months, paid to an eligible apprentice or trainee between 5 October 2020 and 30 September 2021.


Other Measures

  • Removal of current exclusion that applies to deductions for the first $250 spent on education courses, which will give more business owners (and their employees) a reason to learn new skills.
  • Almost $130 million to encourage entrepreneurship through the New Enterprise Incentive Scheme (NEIS) and Entrepreneurship Facilitators Program support people who want to start, run and grow their own business.

Visit the budget website https://budget.gov.au for more details on the 2020-21 Federal Budget.

Boost your small business even further by using B2Bpay

Taking advantage of the simplicity of B2Bpay can help your business to:-

  • Earn full credit card reward points on any business payment including purchases and also be rewarded with Qantas Points
  • Improve cash flow by making use of the 55 days interest free period by using card
  • Make seamless, hassle-free payments, freeing up admin time for you and your staff
  • Set payments as one-off, automatic or future dated
  • Keep accurate records on all purchases and payments, making tax time easier
  • Earn credit card reward points and bonus Qantas Points with every payment, even utility bills, rates and ATO payments

Source: Budget 2021-22 Securing Australia’s Recovery https://budget.gov.au/

This content above was put together for information purposes only. The Content does not constitute tax and/or legal advice and should not be relied upon as such. You should seek tax, legal or other professional advice before acting or relying on any content.

How to accept card payments through your invoices for free

Know exactly when you’re getting back by accepting payments online. Customers expect paying to be easy. Let them do it their way by supplying credit card payment options. This gives them flexibility and convenience when it comes to paying your invoices. It also helps you too as getting paid faster means a boost in cash flow and no more bill chasing. 

Benefits of using B2Bpay to accept payments: 

B2Bpay is a secure online payment portal for businesses to accept all major credit card payments at no cost. Clients will find it easier to pay with more options and far more convenient with online access.  

Need more reasons? 


B2Bpay reduces payment chasing, saving your business time and resources.  Being paid faster also reduces bad debt while boosting cash flow.  

B2Bpay gives customers to pay their invoices from any device at any time. Without having the fuss of cross-checking bank statements, you can check all payment transactions straight from the B2Bpay dashboard. 

Earn points 

B2Bpay not only guarantees faster payment, you also earn Qantas points each time a customer pays with their credit card. For every $20 paid to you through a VISA or MasterCard credit card, you receive 1 Qantas Point. How’s that for double benefits?   

Customers can also earn points when they pay you with their credit card. Not only does it encourage them to pay on time, B2Bpay leads your business with a competitive edge.  

Rewarding customers each time they make payment is a great differentiator from your customers. It will also build loyalty and encourage on-going patronage. 

Simple Click and Pay Button 

Customers want to be able to pay you with ease and their preferred options. By adding a simple “Click and Pay” button on your online invoice, customers can immediately link to a secure payment page with your company logo. Customers can conveniently pay by credit or debit card. 

Just a few simple clicks to immediate payment. 

Set Up is Easy and Free 

Unlike other platforms, setting up B2Bpay requires no additional IT build or bank set up. There are no monthly fees and initial set up is at no cost.   

Our locally based customer support team will make sure the B2Bpay platform works within your business requirements. There are no changes to your existing system or banking arrangements.  

Once B2Bpay is set up, it’s simple and easy to use. No need for training. Also, merchant facilities aren’t required. It’s all ready to go! 

Seamless Integration  

B2Bpay’s seamless integration with accounting software like Xero, MYOB or QuickBooks makes online credit card payments easily accepted with automatic reconciliation.  

Automatic reconciliation means you no longer need to spend hours cross checking manually or risk human error. You can monitor and track all payments through the B2Bpay dashboard at any time, in real time. 

Even if your business doesn’t use any of these programs, the B2Bpay team can actively work with you so you’re able to add a Payment Link to any invoice. 

How does B2Bpay work? 

Simply sign up for B2Bpay with the online form. Our customer support team will promptly be in touch to set up your portal with the business logo. From there, the process is straightforward: 

Step 1: Our customer support team will help connect your accounting software – Xero, MYOB, Quickbooks or others – from your B2Bpay dashboard. 

Step 2: You can start sending your invoices online. From your accounting software you can include B2Bpayment information on your invoice, which gives your customers the option to pay by credit, debit card or bank 

Step 3: Upon receipt, your customer can immediately pay their invoice via B2Bpay. Payments are made using the customer’s nominated card. 

Step 4: Within 3 business days, funds are received to you by EFT or BPAY Plus you receive 1 Qantas Point for every $20 paid to you via VISA or MasterCard. No transaction, merchant or card terminal fees are incurred. There are processing fees which can be found on our homepage.

Step 5: Once received, funds are automatically reconciled in Xero, MYOB, or QuickBooks. As an additional bonus to your business, customers will pay the card processing fees. Receiving payments from customers through B2Bpay does not incur any costs at your end.  

Need more information? 

Click onto the video to find out how B2Bpay can help you get paid faster through your invoices, while saving you time and costs. 

Businesses love getting paid through B2Bpay 

What better way to show you the genuine business benefits of B2Bpay than through our happy clients? John Liu is COO of Human Care Australia Pty, leading global supplier of hospital and healthcare equipment has given his clients an easier quicker payment method with B2Bpay.  

“Our patients are finding B2Bpay really easy to use. We were not accepting credit cards before and now we are but at no extra cost to us. I am also able to take credit card payments at my reception desk which makes life a lot easier,” said John. 

B2Bpay: Get Paid Faster for Free 

If hefty bank or merchant fees have steered your business from accepting credit card payments, B2Bpay is here to change your mind. 

Streamlining your online invoices to include credit card payments, B2Bpay provides the ideal payment solution. Customers can pay through their nominated card while you earn Qantas points with each payment they make.   

Most importantly, all the benefits that come with using B2Bpay are at no cost to your business. 

Click HERE to sign up today! For more information feel free to drop us a line. To chat with someone from our locally based customer support team, call us on 1300 205 575. 




Why Cashflow is Important to Small Business

Running a successful small business is no easy feat. Once you look past the enticing opportunities such as setting your own schedule or becoming your own boss, you are met with the startling reality that 60% of Australian small businesses shut their doors within the first three years of opening(1),  So, what’s going wrong? Is it simply poor management, or perhaps lack of foresight and vision? While there are surely numerous factors at play, it has ultimately been reported that 82% of small business cite one main reason for going out of business: cash flow. 

What Is Cash flow? 

To learn how to avoid this main roadblock, it is essential that you first understand it. Cash flow is a complex concept that many small business owners make the mistake of overlooking. At its core, defining cash flow is simple: it measures the movement of money flowing in and out of your business.  

While profit and cash flow are correlated, there is a difference between the two. Since cash flow only represents the balance in your bank account, your business can turn a profit but still have zero cash. If you are selling products, yet have more expenses than earned income, you will have negative cash flow.  

Defining ‘accounts payable’ and ‘accounts receivable’ is also useful when expanding on this concept. Accounts payable refers to a liability account that tracks the money leaving your business (i.e. payroll, business expenses, loans etc), whereas accounts receivable is an asset account that keeps track of money coming into your business (money you receive from customers for the goods and services you provide).  

To understand where this comes into play when determining cash flow, your business could turn a profit of $30,000 in one month, but only see $10,000 of that in cash flow, because the rest is pending in accounts receivables. These accounts are crucial when balancing your accounting and calculating the profitability of your business. 

Forecasting Cash Flow 

To secure the future and survival of your business, it is essential that you forecast your cash flow. This will equip you to handle both unexpected and planned expenses, ensuring that your spending is efficient. If you’re a seasonal business owner for instance, strong cash flow management will become even more crucial, as you’ll see an influx of cash during your open season, with little cash in the remaining offseason months of the year. 

The best way to keep track of cash flow in your business is to run a cash flow report. A cash flow report is a report that shows you cash received and cash paid, illustrating your business’s cash position at the end of each month. For example, you will see what happens to your cash when a customer pays a bill, your business pays a supplier, or you hire an independent contractor.  

If you wish, you can typically break down a cash flow report into three segments for best tracking: operating flow, investing flow, and financing flow. Operating flow refers to any income or spending that comes from your net income, such as buying merchandise or revenue from your products and services. Investing flow covers business investments, such as buying commercial property or equipment, which will be used repeatedly to directly increase your business’ efficiency or profitability. And thirdly, financing flow refers to transactions around dividends, debt or equity.  

Investing in New Staff/Products 

If you have recently started or launched a new business, you will need to invest some cash. This may include anything from purchasing new equipment, to building a website, or placing a deposit on a new office space. Don’t be alarmed if you initially see more cash output than input. However, you will ultimately need to fund these expenses while still having some capital left over for when your business opens its doors. To do so, you’ll have to carefully protect your cash flow. 

To begin, consider investing some of your own money to cover your start-up costs. You may also want to explore financing options such as a business loan, line of credit, or small business grant to help with the initial costs.  

Keep Track of Overdue Payments 

Chasing consistent late payers can hinder your business. Forecasting your cashflow allows you to see the impact on your bottom line and give you adequate time to alert clients and the need for effective credit control and timely payment strategies  

Preventing Overspending 

Every business will have time-sensitive revenue goals and targets, so forecasting your cash flow is essential inyou understand when and if they will reach these goals. Forecasting allows you to see the breakdown of your budgeting, by seeing the movement of cash into and out of the business. This will not only reveal whether you are landing over or under budget, but it will help you to increase the accuracy of your future budgeting. 

Plan for Seasonal Trends and Cash Gaps 

Seeing cash gaps allows you to put an effective payment plan in place.  Plan to set aside enough cash from peak sales periods to cover your operating expenses during off-seasons or slower seasons. You may also consider setting aside an extra cash buffer to cover unexpected costs.  assist.. Having an overview of your expenses and when they are due is important so create a calendar for your operating expenses and add entries of all recurring payments and their due dates. 

Budgeting for tax payments 

Tax payments always seem to spring up more quickly than you would expect. However, many business owners aren’t aware that you can actually pay the ATO by credit card, meaning you’ll have money available in your bank account for longer. You can hold onto your cash during the interest-free period on your credit card, without it costing you any interest so long as you pay your credit card bill on time. Read more about paying the ATO by credit card, all while earning full credit card reward points by using B2Bpay here. 

Common Cash Flow Mistakes 


Impulse spending, during the start-up phase, can be tricky to navigate. While it does take money to make money, not all expenses are necessary. Keep your eye on the bottom line, considering the cost-benefit of every single expense. Create a realistic budget and be sure to stick to it! Continuously calculate how any purchases will delay your breakeven point (i.e. the point when your plan for your business to earn back the cost of your initial spending). 

Not getting paid quickly enough 

Delayed payments, and unpaid invoices from clients can quickly kill the cashflow of a small business. Small businesses that don’t establish strict late-payment penalties and collections policies are often the most vulnerable. While it may feel risky to ask for payment from your customers at the start of a new business, it is important to remain diligent and consistent about collections. Once your clients know that you’ll be reaching out the moment a payment is late, they will be less likely to delay your payments. Good policies tend to include a given percentage late fee penalty after approximately 5 days, or work stoppage after 30 days past due (for service-based companies). 

Overestimating future sales volumes 

It takes a tremendous amount of confidence and positive thinking to start a small business.While this quality may be essential for a new business owner/s, it is important to maintain a heavy sense of realism when it comes to managing your cash flow. 

Once your business has been operating for a few years, it’s a good idea to complete objective and continue to  practice realistic forecasting based on past numbers and evidence. You can use actual past revenue data from your own business or other businesses in your industry as a baseline for predicting future sales and identifying trends. This will help you come up with some realistic projections, and consider variation over different periods (i.e. the holidays). 

However, if you are still in your first few years of business, you may want to consider working with a mentor from your own industry. They will be able to help you project future sales, and even offer sales figures from past personal experience to assist you in predicting upcoming figures. 

Not having enough cash on hand 

No matter how well planned you are, unexpected costs are a reality of being a business owner. This shouldn’t be a make-or-break it issue, so long as you have a cushion of savings to rely on. But if your company is functioning on a zero or negative account balance, one low profit month could be devastating. 

Be sure to maintain an account balance equivalent to at least two months of your operating expenses. This will ensure that you have the appropriate reserve in place, should you unexpectedly require it. 

How B2Bpay Solves Cash Flow Issues 

 B2Bpay addresses one of the most common cash flow issues — getting paid faster! By using B2Bpay and accepting all major credit cards, your clients will be encouraged to pay you more quickly. The range of payment options also helps to avoid excuses for late payments, as B2Bpay now even accepts payments from bank account. 

With a B2Bpay payment link or button included on your invoice template, making payments will be quick and simple for your client. Funds will be transferred to you by EFT or BPAY within just 3 business days. Plus, you’ll earn Qantas Points on all eligible payments you make or receive with B2Bpay – allowing you to accumulate reward points that may help reduce travel and accommodation costs for your business! 

Along with these benefits, B2Bpay is a great option for your clients’ cashflow as well, as they can take advantage of their credit card’s interest free period up to 55 days.  Read more on the benefits of improving cash flow with B2Bpay here. 

Connect Your Accounting Software with B2Bpay 

B2Bpay has the ability to easily connect it with your Xero, MYOB, or Quickbooks accounting software. Once you’ve connected your accounting software with B2Bpay, all of the payments you make and receive will be automatically recorded in one location, with no manual entry required.  

Stay organised and avoid late fees by viewing all your pending invoices in B2Bpay to pay in one click. You’ll also be able to save time with automatic recording as when you pay, your software will automatically be updated and reconciled for you! 

Accepting payments is just as simple. You’ll be getting paid faster by accepting credit card payments online, at no cost to you. B2Bpay will set you up with a unique, branded payment page, where customers will simply need to click the ‘Pay Now’ button on invoices to be directed to your payments page. You’ll save time, and keep close track of payments, as all your customers’ payments will be auto recorded in your accounting software. 


Cash flow issues are one of the most difficult, and daunting, aspects of small business ownership. However, with careful planning and spending, you’ll be prepared for both the expected and unexpected, setting you up for success. 

 B2Bpay is a great no cost solution for you to ensure a positive cash flow stream by accepting card payments and getting paid faster. There are no terminal fees, merchant service fees or monthly charges. Meanwhile, you’ll be earning Qantas Points to use for business, just for getting paid. 

With such great incentives, and the ease of use (at no cost), B2Bpay offers your clients a way to make immediate payments and generate their own rewards through B2Bpay while your business continues to build a well-managed and healthy cashflow. 

ClickHERE to become a B2Bpay Biller today and start saving time and money for your business. Let B2Bpay take the hassle away from payment chasing so you can focus on what you do best – making your customers happy and growing your business. For more information on how to become a B2Bpay Biller, speak to one of our specialists on 1300 625 647 today.  


(1). According to the Australian Bureau of Statistics: http://www.abs.gov.au/ 

Featured Image

How to Maximise Your Points: Pay for All Business Spending with a Rewards Card

Credit cards are an essential tool for businesses looking to conveniently and easily make purchases, and to boost cashflow. However, their value does not end there. If you choose a credit card strategically, you’ll be able to earn significant rewards. The key to maximising your points, and earning more rewards is quite simple: use your rewards card to pay for ALL your business expenses.

How to Choose the Right Credit Card 

It’s important that you research the right credit card for your business. Be sure to understand credit card offerings in the market that will allow you to maximise your rewards points. When comparing cards, consider the following:  

  • Points-to-dollar ratio 
  • Sign up bonuses 
  • Interest-free days (the set number of days in which you won’t be charged any interest, if you pay off your monthly balance in full) 
  • Complimentary features included with the card such as concierge, airport lounges etc. 
  • Interest rates and fees 
  • Points caps (limit imposed by the card provider on the number of points you can earn in any given month or year) 
  • Points expiry rules and timeframes 
  • Other card offers such as cash backs or discount when you spend with certain retailers 

 Additionally, some credit cards offer more rewards when you spend in specific categories but if this doesn’t appeal to you, there are many cards that simply offer a set earning rate on all spend. 

Pay for Everything on Credit Card 

If your business is paying stock, contractors and supplier invoices with bank account funds, you are missing out on the opportunity to rapidly boost your points balance. Remember, you can earn points on every transaction you make regardless of the amount. 

From small incidental purchases like your quick flat white on the way to workpetrol or shouting lunch for a client, use your credit card rather than cash or your debit card. Whilst these are small dollar value transactions, you’ll be surprised to see how these regular transactions add up to lots of points over time. 

Use B2Bpay To Earn More Points on ALL Payments 

Although tax payments have traditionally been paid by bank account or directly by card with reduced points earnt, B2Bpay provides the opportunity for business owners to make these substantial ATO payments, with ease, and earn full credit card points* and Qantas Points# on top! 

 In fact, you can use B2Bpay for many bills such as rent and utilities to earn FULL credit cards rewards points and Qantas Points. Many card issuers reduce or eliminate the number of points you can earn on these purchases.  

Earn More Points Through Our Special Offers 

In addition to earning full credit card points when paying business bills with B2Bpay, you will also earn Qantas Points on all eligible payments#! You will earn: 

  • 1 Qantas Point for every $7 paid by card to the ATO 
  • 1 Qantas Point for every $10 paid by card to other billers 
  • 1 Qantas Point for every $3 paid by bank account 
  • Up to 3 Qantas Points per $1.50 paid to B2Bpay Bonus Billers 

 Use Your Points for Flights to Maximise Points Value 

One of the greatest advantages of earning Qantas Points is the ability to use them for flights, upgrades, and other travel bookings with Qantas and its partners. Qantas makes it super easy for you to move points From Qantas Business Reward over to an individual’s Frequent Flyer account. You simply head over to the Qantas Business Rewards website and log in to the Transfer Points page.  

You can choose who you want to transfer the points to by entering the recipient’s name and Qantas Frequent Flyer number.  

How One Small Business Affords Travel Upgrade 

For Victoria-based Collinson’s Vacuum Packing, Qantas Business Rewards makes staff travel much more affordable. Collinson redeems points on flights, upgrades and accommodation for business trips and has even previously used them to fly his family to Japan for a Christmas holiday. 

Using B2Bpay – a secure online portal – the business earns Qantas Points when it pays bills and even when it receives payments, if a customer pays by Xero invoice. “Paying bills through internet banking is a long, tedious process but B2Bpay is fast and easy to use. Plus, we get rewarded for it,” says Collinson. “Some of our suppliers are Bonus Billers, so we can earn up to 3 Qantas Points per $1.50 on payments.” 

Collinson also uses a Qantas Points-earning business credit card to rack up even more points on top. “We always try to get the maximum points because it’s good for our business.” 

Get Started with B2Bpay 

Setting up a B2Bpay account to pay your bills is easy, and free! Simply fill out an online set up form so we can verify business details.  

 Click HERE to sign up for free. Alternatively, talk directly to our Sydney-based B2Bpay support team on 1300 205 575. 


# Use a Qantas Points earning credit card to earn points on every payment. Card products referred to are not issued by Qantas but by the relevant Card partners. The applicable Card Partner is the credit provider and credit licensee under the National Consumer Credit laws. Points are offered by the relevant Card partner and partner reward program and can only be earned on eligible purchases. Contact the relevant Card Partner for terms and conditions or enquiries.  

*A business must be a Qantas Business Rewards Member to earn Qantas Points for business. A one-off join fee of $89.50 including GST normally applies, however this will be waived for B2Bpay customers  using this link. Membership and Qantas Points are subject to the Qantas Business Rewards Terms and Conditions. Qantas Points for business are offered under the B2Bpay Customer Terms and Conditions. Members will earn 1 Qantas Point for every $7 paid to the ATO by card, 1 Qantas Point for every $10 paid to all other billers by card, and 1 Qantas Point for every $3 paid to a biller by bank account. Members can also earn up to 3 Qantas Points per $1.50 paid to B2Bpay Bonus Billers.See B2Bpay website for a list of current B2Bpay Bonus Billers. Qantas Points will be credited to the Members’ Business Rewards account within 90 days of the eligible spend. Any claims in relation to Qantas Points under this offer must be made directly to B2Bpay by emailing [email protected]. Businesses must ensure the ABN registered with Qantas Business Rewards is saved in the B2Bpay customer profile or entered online when paying in order to earn Qantas Points. Qantas Points earned using B2Bpay will be automatically credited to your linked Qantas Business Rewards account within 90 days of your eligible spend as outlined in the B2Bpay Customer Terms and Conditions. B2Bpay Billers will earn 1 Qantas Point for every $20 of customer payments made by customers using VISA or Mastercard via the Public WebPay payment portal supplied by B2Bpay (an ‘eligible payment’) and featured on the Biller’s invoice or statement template. Excludes failed or refunded payments and may not be available to businesses on enterprise or special pricing plans. Qantas Points will be credited to the Members’ Business Rewards account within 90 days of the eligible spend. Any claims in relation to Qantas Points under this offer must be made directly to B2Bpay by emailing [email protected]