Trend Micro Incorporated, a global leader in cybersecurity, has unveiled its first consumer security solutions tailored to safeguard against emerging threats in the era of AI PCs. Trend will bring these advanced capabilities to consumers in late 2024.

Carla Rodriguez, VP and GM of Client Software Ecosystem Enabling at Intel: “We are pleased to collaborate with Trend Micro on AI solutions leveraging our next generation Intel Core Ultra processors (code name Lunar Lake). Specifically, Trend will be the first to utilise Lunar Lake’s 48 NPU Tops on their email defence feature to run scans locally, increasing user privacy and security while lowering latency. Intel enables a broad and open ecosystem and brings unmatched scale and channels for AI ISVs like Trend Micro. We look forward to driving their solutions to those seeking to adopt AI capable PCs rooted in security.”

Trend’s ecosystem expanding this week to include Intel is a testament to its focus on innovation without boundaries. As Trend continues to focus on AI and other emerging technologies, collaboration with industry peers is critical.

Kevin Simzer, COO at Trend: “We are not only leveraging AI for security, but also securing AI itself. The value of this AI era will ultimately depend on how secure it is, from the enterprise level to the individual consumer. Trend is addressing both, while many in the industry are not yet doing either.”

AI PCs powered by neural processing units (NPUs) allow consumers to run AI applications locally on their device rather than in the cloud, providing benefits from privacy to performance. As PC manufacturers rapidly bring new AI PCs to market, consumers will be presented with both new opportunities and new risks. Trend is committed to addressing these risks through its new capabilities being showcased at Computex 2024:

• AI application protection: Traditional cybersecurity solutions for PCs are not enough when it comes to protecting consumer AI applications from malicious activity. Methods such as model tampering or knowledge base poisoning can result in an AI application being directed to put users at risk of losing sensitive personal information or becoming a victim of misinformation. Trend’s AI application protection capability is designed to address this risk and is set to launch for device security products in 2024.

• NPU-powered email security: Previously, email content had to be sent to the cloud for analysis due to computing power requirements. Trend can now run email scam protection locally on an AI PC. This offers a better user experience and removes data privacy friction from the process. Trend expects to see a 100% increase in usage of this feature on AI PCs, which will be available as part of its device security solutions in 2024.

Trend is showcasing its AI application protection and NPU-powered email security at booth K0028 at Computex.

To find out more about Trend Micro’s commitment to protecting consumers in the age of AI, visit: https://www.trendmicro.com/consumer-ai

With tax time on the horizon, Norton, a consumer Cyber Safety brand of Gen™, is warning Australians to remain cautious over the coming months as various Tax Time scams begin to emerge.

The warning comes as new consumer data from Norton reveals that 14% of Australians say they have personally experienced cybercrime in the past 12 months, with the average amount lost to cybercrime over $850 ($863.79). Of those who have experienced cybercrime in the last 12 months, 35% had detected unauthorised access to an online banking or financial account.

Tax time can bring stress and confusion to individuals and businesses as they prepare to file their returns with the Australian Taxation Office (ATO). It is the perfect environment for cybercriminals who seek to take advantage of the time and try to obtain sensitive information to cause financial harm to unsuspecting victims.

Mark Gorrie, APAC Managing Director for Norton says, “There are certain times each year that pique cybercriminals’ interest and tax time continues to be one of them. With the amount of personal and financial information that is being stored and shared at this time, coupled with the stress that comes with filing tax returns, it is the perfect storm for scammers to target Australians.”

“It can be easy to fall into the trap of a scammer offering to ease this burden. However, it is important to understand that  Cyber Safety practices should never be sacrificed in exchange for convenience.”

“AI is aiding cybercriminals in evolving and developing their devious tactics, it is more important than ever that Australians are continuing to educate themselves on the warning signs.”

Examples of prevalent Tax Time Scam to look out for:

1. Tax-related identity theft. This scam occurs when cybercriminals access a victim’s account, impersonate them, and fraudulently lodge refunds from the ATO using your stolen personal information, including your tax file number (TFN). This can be dangerous, as in this instance, the cybercriminal who filed a return with your information may still have your data – leaving you vulnerable to other identity-related crimes.

How to avoid this scam:

• Keep your tax file number safe. Shred any documents that contain personal information before you throw them away, and ensure that your online accounts containing sensitive information, like myGov, are protected with strong passwords and two factor authentication.
• If you suspect your TFN and identity has been compromised, immediately report the incident to the ATO.
• Consider using a robust security software, like Norton 360. This will help protect your personal devices and information, and act as a first line of defence against attempts by criminals to steal or compromise your personal information.   

2. Be cautious of ATO impersonation scams. Cybercriminals will pose as ATO representatives to convince victims to provide their bank details, tax file number, or other personal information via SMS, email, or social media accounts.  Additionally, in January this year, the ATO issued a warning about scammers posing as ATO workers on Twitter, Facebook, TikTok and other popular social media platforms. These phony accounts prey on social media users who have made public comments addressing the ATO with a question or complaint. The scammer sends their victim a direct message, offering to assist in resolving the issue. After gaining trust, the scammer attempts to obtain personal information.

How to avoid this scam:

• Look out for tell-tale signs of a scam. The ATO won’t use urgent threats, such as arrest, payment, or suspension of your TFN. If contacted via social media by a newly created unverified account with a small follower account, delete the message. The ATO only has official accounts on Facebook, Twitter, and LinkedIn – legitimised with verification ticks and over 10 years of activity.
• If you receive a suspected scam email or SMS, do not click on any links, provide any payments, account log in information, or other personal information. To help people navigate the online world safely with digital tools, Norton Genie is a free app that detects scams by reviewing suspicious texts, emails, and web and let’s you know if it is legit.
• Occasionally, the ATO will contact you by phone, email, SMS, and post. If you are not sure about the validity of any communication, the best thing to do is to call the ATO directly. You can obtain a phone number from their official website, or a previous letter you have received, and validate the request.

3. Dodgy tax preparers offering to complete your tax refund. Scammers capitalising on the desire for maximum tax refunds will promise substantial returns and a speedier process, which can appear to be an enticing offer in an otherwise confusing and stressful time. The fraudsters will ask for access to the myGov accounts of their victims and lodge tax returns through the ATO’s myTax web portal or take personal details and payment before disappearing.

How to avoid this scam:

• If someone approaches you claiming to be a tax preparer, you can check that they are registered on the Tax Practitioners Board (TPB) by visiting their website to verify the legitimacy of their claims.
• Never share your myGov password with anyone. Sharing your information (such as your myGov password) with an unregistered practitioner puts your personal and financial affairs at risk.
• Enable two factor authentication on myGov. You can use either the myGov Code Generator app or receive a code by SMS when logging in. This will further protect you from unauthorised access to your myGov account.

Companies are significantly boosting their AI investments, identifying it as a key driver of growth and innovation, according to a new survey of 500 small and medium-sized businesses (SMBs) in Australia and New Zealand commissioned by Schneider Electric, a leader in the digital transformation of energy management and automation.

Significantly, two-thirds of respondents increased their IT budgets this year, and nearly half predicted further substantial increases in funding AI over the next five years. Forty-three per cent of respondents said dealing with embedded AI would be their top focus this year.

The research, ‘The essential guide to understanding AI for SMB and Mid Market leaders in Australia and New Zealand’, explores AI’s growing landscape and its potential to drive significant growth and innovation for SMBs. The research delves into potential use cases for AI across industries with crucial considerations for AI investments, covering infrastructure, data management, security, personnel, processes, goal setting, and the role of partners’ services – from edge computing to core solutions such as colocation, private data centres, or cloud services. 

The essential guide to understanding AI investment for SMB insights include:

• AI presents widespread opportunities and businesses are backing it. 48% of Australian organisations said they would take a company-wide approach to AI with significant levels of investment. A further 43% report that dealing with embedded AI will be the top focus this year.
• Investment in AI is expected to rise significantly in the next five years. Nearly half of respondents (46%) anticipate a substantial increase in AI spending.
• SMBs are prioritising growth, customers, and cost management. The survey revealed that growth is the top business priority in Australia. Cost management remains a key concern.
• Security and data are the biggest hurdles to AI adoption. Over 42% of respondents identified security and data as the biggest hurdles to AI adoption this year. 
• A hybrid approach to AI infrastructure is likely to eventuate. The research suggests a combination of edge computing, cloud computing, and on-premises environments will be most prevalent for AI projects. 
• A majority (80%) of SMBs agree they must include edge environments with AI solutions. They also stated that their edge needs upgrading, and edge computing is expected to be included in up to 10% of AI projects. 

The research revealed the number one investment priority in Australia is CX technology, while modernisation is the top IT management issue, followed by security. Nearly half of those surveyed said AI-generated film and video would have the highest and most urgent impact on their organisations.

“These findings paint a clear picture: AI is no longer just for big businesses, and organisations of all sizes and sectors are looking to leverage the technology to meet their growth, efficiency, and customer satisfaction targets,” said Joe Craparotta, Vice President of Secure Power from Schneider Electric.

“AI is already built into many platforms businesses use, but now there is an opportunity to unlock its capabilities to improve business outcomes,” he added.

“We know that AI also has enormous potential to help organisations make more intelligent decisions in the areas that are part of the solution to energy dilemma – operational efficiency, electrification, and digitisation,” he said. “We hope that this research will help SMBs leverage AI to drive more sustainability – in addition to operational efficiency – across their business.” 

To download the research, click here. To learn more about the results of this research and what it means for the Partner ecosystem, register to attend our 2024 Innovation Day: APC Channel Partners on 4 June 2024 here.

Furthering its goal of launching better, more sustainable and efficient products, CyberPower has launched its Online (High-Density) Series of sustainable, compact and high-power UPS. The new Online (High-Density) UPS Systems provide more power and functionality in far less space to better meet the demand of today’s IT environments.

CyberPower Systems Oceania GM ANZ Robert Hartvigsen explained, “Currently around 1327 exabytes of data, are stored in worldwide datacentres. This number is almost an eight-fold increase compared with 2015*. Datacentres’ storage is expanding without precedent and as such, thousands of devices are installed every hour in datacentres to meet those demands making speed to market and scalability mission-critical for large enterprises. Our Online (High-Density) Series UPS Systems meet these challenging demands by being specifically designed to provide uncompromising performance and more sustainability with far higher efficiency, thus facilitating a smooth expansion.”

The new CyberPower Online (High-Density) UPS Systems

As Hartvigsen says, the CyberPower Online (High-Density) Series UPS achieve up to 50% in space savings and provide optimal power and functionality within their compact design. They do this by utilising online double-conversion topology which provides the best power quality regardless of the conditions of incoming power.

They also have a high output power factor of 1 (on their 6kVA and 10kVA models) which allows more critical devices with the highest number of total watts to be powered by the UPS. 

The new CyberPower Online (High-Density) UPS Systems

Then their Online ECO Mode means the UPS can switch modes to increase system efficiency, often achieving a high power efficiency of up to 98%. When the quality is unstable, the UPS switches to line mode to guarantee the best power quality.

Hartvigsen said, “In short, these new products offer high-density UPS in up to a 50% smaller footprint which results in lower cooling costs and greater flexibility over time. They are also up to 36% lighter which makes the UPS far easier to install and helps users save precious time.”

CyberPower Online (High-Density) UPS System’s design guarantees reliable power protection and their Online Double-conversion Topology also features a zero-transfer time, ensuring optimal system operation.

Not only does their compact design, significantly optimise space in a rack enclosure but it has quick charging technology built in, so the UPS can achieve 90% battery level in only 4 hours.

For further efficiencies and ease of use, there is a colour LCD panel which has been designed with intuitive and graphical user-interface, allowing users to monitor the power system and configure settings with ease. There’s also a clever, tiltable PCD panel which can be tilted upward for easy viewing, enabling users to see clearly when the product is placed in a lower position. 

All of CyberPower’s Online (High-Density) Series UPS come with two years’ Advanced Replacement Warranty on both the UPS and batteries making them ideal for corporate, government, enterprise customers and of course, data centres. 

Robert Hartvigsen concluded, “CyberPower Online (High-Density) UPS Systems give you more power, use less space, bring down cooling costs and increase flexibility. They are light, easy to use and are far more sustainable and thus far better for the environment.”

CyberPower’s Online (High-Density) Series UPS key advantages

• More Power. Less Space.

• Up to 50% smaller for the 6KVA which results in lower cooling costs and greater flexibility over time.

• Up to 36% lighter (compared to other brands) which makes the UPS far easier to install and helps users to save time. 

• Online Eco Mode – The UPS can switch to ECO mode to increase system efficiency, achieving high power efficiency up to 98%.

• High Output Power Factor – The power factor of 1, allows more critical devices with the higher number of total watts to be powered by the UPS. 

• Remote Management card included.

CyberPower’s Online (High-Density) Series UPS are available in Australia now.

For more information go to: https://www.cyberpower.com/au/en/product/promotion/a-more-sustainable-and-smaller-ups

ASUS has ushered in a new era of Copilot+ PCs — featuring advanced AI capability with 45+ TOPS NPU AI engines — during its Always Incredible virtual event at Computex 2024, with the launch of brand-new models across its ProArt, Zenbook and Vivobook portfolios. 

For creators, the three new ASUS ProArt laptops deliver an unprecedented combination of portability and power, with three form factors designed to empower creativity in any environment or setting. The rugged yet lightweight designs allow users to unleash creativity wherever their life story goes. The new model lineup includes the 16-inch ProArt P16 clamshell and the 13-inch ProArt PX13 convertible powered by the up to 50 TOPS AMD Ryzen™ AI 9 HX 370 processor — one of the latest Ryzen AI 300 Series processors — with up to a 321 TOPS NVIDIA^® GeForce RTX^™ 4070 Laptop GPU, and the 13-inch PZ13 detachable based on the AI-enabled Snapdragon^® X series Platform. These devices will streamline the creative process with the full spectrum of creative tools at the user’s fingertips, including the ASUS DialPad, the new AI-powered StoryCube and MuseTree apps, and the ProArt Creator Hub control centre. 

Design and technology enthusiasts will appreciate the fusion of art and technology that characterises the functional aesthetics of the premium 16-inch ultraportable ASUS Zenbook S 16 (UM5606), which despite being only 1.1 cm thin houses up to AMD Ryzen AI 9 HX 370 processor, and is packed with innovation, from its unique Ceraluminum^™ lid cover to its CNC-machined geometric grille design. Ceraluminum is a new durable high-tech ceramic with an entirely new look and feel.

At its recent dedicated launch event, the new ASUS Vivobook S 15 (S5507) became the company’s first Copilot+ PC. It’s a sleek AI-powered laptop designed for those who demand more, boosted by the efficient power of the AI-enabled Snapdragon X Elite Platform. Existing 2024 models in the Vivobook family — the 14-inch Vivobook S14 (M5406), the 15.6-inch Vivobook S 15 (M5506), and the 16-inch Vivobook S (M5606) — now have refreshed specifications and are all available with up to an AMD Ryzen AI 9 HX 370 processor. The new Windows AI features, such as Recall and Cocreator in Paint, will be coming to ASUS Vivobook S 15 on June 18, with the rest of the models receiving a free update to Copilot+ PC experiences when available. The Zenbook S 16, ProArt P16, and PX13 are also all powered by up to an AMD Ryzen AI 9 HX 370 processor. All ProArt laptops include a free three-month Adobe Creative Suite subscription and a free six-month CapCut Pro subscription. 

AI for creators: ASUS ProArt P16 / ProArt PX13 / ProArt PZ13

The new ASUS ProArt AI laptop lineup is designed to empower every creator — whether they are everyday users, outdoor content creators, or professionals — to transform their precious life moments into enduring stories. The lightweight, durable, and powerful laptops allow users to create anywhere, create faster, and create smarter. 

All three new models are Copilot+ PCs and feature the ASUS-exclusive StoryCube and MuseTree apps to enable smarter and more streamlined creative workflows, made possible by the power of fully-local AI. StoryCube is a smart, convenient, and powerful digital asset-management tool with AI assistance for scene categorisation and clip generation, allowing users to effortlessly manage and export the contents of their file library. MuseTree transforms inspiration into imagery swiftly, allowing users to generate more creativity through simple graphical interactions, while intelligently storing and managing their ideas at all times. The devices also include a dedicated Copilot key for quick access to your everyday AI companion. 

The 16-inch ProArt P16 laptop delivers unparalleled creative on-the-go experiences anywhere, boasting cutting-edge components within its premium-feel black chassis that’s just 14.9 mm thin and 1.85 kg light. Powered by a 50 TOPS NPU integrated into the AMD Ryzen AI 9 HX 370 processor and NVIDIA GeForce RTX 4070 Laptop GPU that can deliver up to 321 TOPS, it becomes the first AI PC of its kind built for advanced AI workflows across creativity, gaming, productivity and more. Its GeForce RTX 4070 Laptop GPU provides creatives with RTX AI acceleration in top 2D, 3D, video editing and streaming apps. RTX GPUs breeze through video editing tasks 2.5x faster with DaVinci Resolve. Adobe Premiere Pro’s AI Speech Enhance runs 4.5x faster. 3D is accelerated by as much as 6x in Autodesk Arnold, andProArt P16 has access to exclusive NVIDIA AI software like NVIDIA Broadcast, RTX Video, and the ChatRTX tech demo. 

For increased portability, the 1.38 kg 13-inch ProArt PX13 convertible laptop is designed to excel in any user scenario, with a 360° hinge that allows seamless flipping between laptop, tent, stand or tablet modes. Whether creating on-the-go or working from home, its high-resolution 3K ASUS Lumina OLED display ensures lifelike visuals that captivate and inspire. Powered by up to an AMD Ryzen AI 9 HX 370 processor, ProArt PX13 is an NVIDIA Studio-validated laptop, with up to a GeForce RTX 4070 Laptop GPU that delivers over 300 TOPS for an advanced AI PC experience, enabling creators to unlock unique AI capabilities and dive into AI-accelerated workflows, from textures to lighting effects to AI-generated imagery. Along with ultrafast WiFi 7 connectivity, there are extensive I/O ports including twin 40 Gbps USB4 for fast charging and external displays, HDMI 2.1 FRL, and a UHS-II MicroSD card reader for quick action-cam transfers. 

Finally, the ultracompact and ultraportable ProArt PZ13 detachable laptop enables users to experience the ultimate portability without sacrificing performance. Weighing just 0.85 kg, this device packs a punch with its AI-enabled Snapdragon X Series processor, 3K ASUS Lumina OLED screen and Copilot+ PC AI capabilities. Whether working on the go or enjoying multimedia content, the lifelike visuals provided by the world-leading display ensure an immersive experience. PZ13 has dual functionality as a tablet or a laptop, thanks to its magnetically-attached full-size detachable keyboard. The long-lasting 70 Wh battery, IP52-rated durability for dust and water resistance, and an SD slot with a microSD adapter all combine to make this device the perfect choice for ultimate creative mobility.

Additionally, across the new ProArt laptop lineup, ASUS and CapCut have partnered to give users an exclusive free six-month CapCut membership program that provides access to premium features and thousands of assets, giving them the benefits of a flexible editing workflow, magical AI tools, and a stock library. 

AI for the highly mobile: ASUS Zenbook S 16 (UM5606)

A stunning fusion of art and technology, the premium ASUS Zenbook S 16 is a sleek and lightweight ultraportable laptop, measuring just 1.1 cm slim and weighing 1.5 kg. It’s a masterpiece of craftsmanship that, despite its ultra-sleek design, can deliver up to 28 W TDP and 50 TOPS from the NPU in its formidable AMD Ryzen AI 9 HX 370 processor, aided by an advanced 3D vapour-chamber cooling system that’s unique in such a slim device, and which is capable of ultra-quiet <25 dB cooling. In the CNC-machined keyboard area, a novel geometric grille design ensures maximum airflow while reducing dust ingress. 

The all-metal chassis features an outer lid made of Ceraluminum^™, ASUS’ exclusive new material that blends the beauty and feel of ceramic with the strength of aluminium. Ceraluminum is durable and has a pleasantly warm and tactile feel compared to aluminium. The device is available in elegant Scandinavian White or sophisticated Zumaia Gray.

Equipped with a highly efficient 78 Wh battery and a full array of I/O ports — including two USB4^®, USB 3.2 Type-A, HDMI^®, an audio jack, and an SD card reader — on-the-go connectivity is seamless. 

Users can prepare to enjoy lightning-fast responsiveness with up to 2 TB PCIe^® 4.0 x4 SSD and up to 32 GB LPDDR5x RAM. The immersive 16-inch 3K 16:10 panel with a 120 Hz refresh rate, NanoEdge bezels, and a 90% screen-to-body ratio offers stunning home theatre-grade visuals. Certified by TÜV, with low blue-light and flicker-free technology, it also ensures the highest degree of eye protection. With the six-speaker sound system — unprecedented in such a compact device — the laptop delivers cinematic sound, and AI Noise Cancellation for enhanced conference calls makes sure that calls are clear and undisturbed by the world around them. The FHD AiSense IR camera supports AI effects, while Dolby Atmos provides multidimensional sound. With a 40%-larger 16:10 touchpad supporting smart gestures for easy navigation and control, the user experience is further elevated.

Zenbook S 16 also includes enhanced privacy features. Inside, the Microsoft Pluton security processor creates a protective boundary around critical components to safeguard them from external threats. Outside, the FHD AiSense IR camera supports Windows Hello, Adaptive Lock and Dimming, and Windows passkeys. It enables users to log in to apps and accounts with just their faces. 

AI for all: ASUS Vivobook S series

ASUS Vivobook S 15 (S5507) is at the vanguard of the new-era ASUS AI PCs, kickstarting the new paradigm at its recent dedicated launch event. This 1.47 cm-thin, 1.42 kg-light 15.6-inch ultraportable laptop was the company’s first Copilot+ PC to launch, harnessing the AI power of the Snapdragon X Elite Platform with its hardware-accelerated AI functions and a powerful battery that delivers up to 18 hours of seamless productivity or entertainment. Leveraging this powerful hardware, the ASUS Vivobook S 15 integrates advanced features such as Windows Studio Effects, which adjusts lighting and offers new creative filters to enhance call collaboration, and ASUS AiSense Camera with AI-powered Security, enabling the adaptive lock feature to auto-lock when the user walks away and auto-unlock upon their return, as well as auto-dimming when the user looks away. Furthermore, it incorporates Live Captions which turns any audio that passes through the PC into a single, English-language caption experience in real-time on screen across all apps consistently; and Cocreator, which empowers users to transform sketches into finished artworks using natural language to describe what they want to create. These innovative technologies not only enhance security and privacy but also elevate the audiovisual experience and unlock creativity. The expansive 3K 120 Hz ASUS Lumina OLED display and immersive Harman Kardon-certified Dolby Atmos^® audio system are encased in a premium all-metal 1.47 cm-thin, 1.42 kg-light body that’s built for effortless mobility. The mood-setting single-zone RGB keyboard features a dedicated Copilot key for quick AI assistance to revolutionise work and play. 

ASUS Vivobook S 15 also offers incredible on-the-go connectivity with WiFi 7 and a full set of I/O ports — including two full-function USB4^®, two USB 3.2 Gen 1 Type-A, HDMI^® 2.1, a microSD card reader, and an audio combo jack.

In order to provide the latest AI capabilities to the widest range of users, the existing ASUS Vivobook S lineup has been refreshed to feature up to an AMD Ryzen AI 9 HX 370 processor. The 14-inch ASUS Vivobook S14 (M5406), the 15.6-inch ASUS Vivobook S 15 (M5506), and the 16-inch ASUS Vivobook S (M5606) have all been reimagined for 2024 with even slimmer and lighter designs. Sporting elegant all-metal chassis, these laptops start at a mere 1.39 cm in thickness and weigh as little as 1.3 kg. Alongside their exceptional portability and minimalist aesthetics, they boast uncompromising performance powered by the latest AMD Radeon^® graphics, up to 32 GB LPDDR5X memory, and lightning-fast up to 1 TB PCIe^® 4.0 SSD storage. Enhanced cooling is ensured by the ASUS IceCool thermal technology, now featuring two heat pipes, two 97-blade IceBlade fans, and two air vents.

Leading financing company OptiPay has revealed the top accounting mistakes being made by Australian small businesses.

CEO Angus Sedgwick says many business owners view accounting as a chore, yet it is one of the most critical aspects of success.

“We often see owners putting off their accounting responsibilities which leads to varying degrees of negative consequences for their business,” says Mr Sedgwick.

“You only have to look at the fallout from delayed COVID tax payments and the increasing rate of insolvencies to realise the impact this has,” he says.

“The best way to avoid costly accounting mistakes is to hire a professional bookkeeper and accountant. It may seem costly but you’re more likely to save money in the long run than by trying to do it yourself.”

Here are the Top Accounting Mistakes to avoid –

1. Not Tracking Business Transactions

Make sure you keep a record of all your transactions. Have digitised copies and paper backups for future reference and to maintain the health of your business. Don’t forget records of employee compensation, utility expenses and cash receipts. If you’re audited by the tax office you will be required to show records of all your business expenses, even the small ones. Consider implementing financial tools that can help you automatically monitor your business transactions and create a backup in case of an emergency.

2.            Poor Communication

Ensure that you and your bookkeeper clearly understand and communicate regarding your financial records, reports and any other vital statements relating to your business. They need to know what’s going on – be that small or large transactions, or new finance arrangements or structures. Make sure they have a good picture of your company’s overall performance at any particular time. 

3.            Being Behind on Paperwork

Don’t put off updating your books to the last minute. Falling behind on paperwork is one of the most common mistakes we see small business owners make and if you fall behind on billing customers you may find yourself with a debt that never gets paid. There’s also the risk with other payments being late that you may be liable for fines and penalties from the ATO. Try to prevent this from happening by being organised.

4.            Not Providing a Clear Budget for Every Project

For every new project you start with your business make sure you have a clear budget set out from the beginning. You don’t want a significant portion of your cash flow utilised unless you’re getting a good return on your investment. Look back on past projects to determine an accurate budget based on what you’ve spent before.

5.            Mixing Personal and Business Accounts

Mixing business and personal accounts makes it harder to track business expenses and you might miss an expense that could have been a tax deduction. Having a separate business account also gives lenders an understanding of your finances if you’re applying for a loan or an alternate funding options like invoice financing. You want to make sure you maximise your credit score to obtain the best financial solution for your business.

6.            Being Unwilling to Delegate

Sometimes small business owners are unwilling to outsource essential tasks to save money. This is understandable however eventually you will need to outsource sufficiently in order to scale your business to expand. Focus on what you’re good at doing and pay specialists to handle necessities such as your accounting. Having expert advice will help you to maximise your income and any financial or strategic opportunities whilst also minimising your taxes.

As EOFY approaches, Hnry is sharing the top 10 tax deductions that independent earners didn’t know they could claim, as its research reveals the average sole trader misses out on over $5,500 in unclaimed expenses every year.

Only 64% of sole traders – from contract tradies and nurses, to freelance creatives and wellness professionals – claim all of the business expenses they’re entitled to, with Hnry data revealing 33% are unsure of what they can/can’t claim, and 35% not being bothered with the hassle of financial admin.

To help the nation’s 1.5m sole traders claim the expenses they’re entitled to, and keep their pennies in their pocket, please find below Hnry’s top 10 tax deductions self-employed Aussies didn’t know they could claim – from the broad to the weird and wacky:

1. Digital Marketing Tools: Subscriptions for SEO, email marketing, and analytics tools are deductible.
2. Virtual Assistants: Expenses related to hiring virtual assistants to help with administrative tasks, customer service, or other business functions.
3. Green Business Initiatives: Deductible costs include investments in recycling programs, eco-friendly supplies, etc.
4. Promotional Samples: Claim the cost of providing product samples to potential clients/customers as a marketing expense.
5. Ergonomic Office Items: Claim ergonomic furniture/equipment costs for a productive workspace.
6. Niche Subscriptions: Deduct membership fees for industry-specific/professional associations.
7. Music: Claim music subscriptions/equipment costs for business environments like cafes or retail stores.
8. Professional Photography: Claim photography expenses for professional headshots and promotional materials.
9. Sun Protection: Deduct sun protection items’ (hats, sunglasses, sunscreen) costs for outdoor workers like tradespeople, farmers, etc.
10. Income Protection Insurance: Premiums may be tax deductible, offering financial security if you’re unable to work due to illness or injury.

Despite efforts to encourage office returns, a recent Randstad survey reveals that talent still craves flexibility. For nearly 40% of respondents, working from home is a non-negotiable priority, with 37% willing to consider leaving if office time increases. As a team that has championed a flexible work culture long before the pandemic, I would like to share some of our learnings. 

Look at flexibility differently

We have swapped rigid office regulations for “gravity days”—designated in-person team workdays. This shift not only enhances operational effectiveness but also fosters a culture of innovation and creativity. Our commitment to employee well-being and autonomy propels this collaborative strategy, allowing our team to select their work settings for maximum productivity.

Build a clear framework

Having a clear framework is crucial to a successful hybrid work model. While “gravity days” are great for collaboration and social interaction, you need a well-thought-out policy that informs employees about when and how they can use these options.

Nurture open communication

While the hybrid work model grants flexibility for managing various commitments, it can sometimes breed feelings of isolation and hinder collaboration. Prioritising regular check-ins and maintaining open channels for feedback and communication will help foster a sense of belonging and stronger team bonds. Your team will value your dedicated time and effort in understanding their needs.

Maximise productivity through technology integration

Our “gravity days” seamlessly merge remote and in-office work, with technology playing a big role. Investing in the right tools means smooth, secure collaboration. Talk to your team about their home setups to ensure they are equipped properly – good monitors, webcams, headsets, keyboards, and mice. That way, remote work is just as effective as being in the office.

Written by Damian Lepore, Managing Director of Logitech Australia and New Zealand

What started as a one-off business collaboration between a couple of Warrnambool businesses soon became a mission to empower the region’s wider business community. 

Marcus and Kymberly McDiven, the power couple behind Battery World Warrnambool, are doing their bit to prove that the community is ‘stronger together’ by kickstarting a new initiative alongside their fellow business owners. 

The couple recently teamed up with Adzweld Fabrications to produce an epic Ute set-up featuring both Battery World products and an Azweld custom-built and installed canopy.  

“Working with Adzweld came about in the spur of the moment when they needed our help with LED lighting fitting and our battery systems,” Kymberly McDiven said. 

“The partnership with Adzweld went so well that we thought this should be something we continue to do moving forward.  

“We’re lucky enough to be surrounded by such a supportive community so why not give back where we can.” 

Since setting up shop in December 2021, the team at Battery World Warrnambool have seen immense growth in their customer base and hopes to provide a platform for other local businesses to thrive in their respective industries too. 

“We took over the store just over two years ago and quickly learned there’s so much more to running a small business than just selling products. We aren’t interested in making a quick buck, we’re truly here to service the community and power up their passions,” she added. 

According to Adzweld Warrnambool co-owner Adam Wright the collaboration was a great way to service his clients while learning more about a similar industry. 

“I’ve known Marcus and Kymberly for a long time, so working together was both mutually beneficial and exciting,” he added. 

“It’s not too often you get to learn from other businesses, so it was an eye-opening experience and one that I hope will happen again. 

“Warrnambool is such a tight-knit community, so when businesses come together, we have the opportunity to make something special happen and I’m so proud of what we were able to achieve.” 

For more information on Battery World, visit https://www.batteryworld.com.au/ or head into the Battery World Warrnambool store today.