WHAT IS FRANCHISE ROYALTY FEE AND WHAT DOES IT COVER?

 Hi All,

When I started as a franchisee, I was naïve to understand the costs involved with the running of the unit. I did not pay attention to the royalty fee. However, when you consider it as an ongoing expense, it can become a headache if you have not sorted it out. I was fortunate enough to have additional funds with me as working capital to pay for the fee. I know several others who did not have a plan and had to pay it with a heavy heart when they were not making profits. It was disheartening but taught them a great deal. So here is an article that will help you to understand royalty fee.   

https://www.franchise2sell.com.au/blogs/franchise/what-is-franchise-royalty-fee-and-what-does-it-cover

SMALL BUSINESS REBATE SCHEME KICKS OFF

 Small businesses are encouraged to sign up for a new $1500 rebate scheme to help cover the cost of NSW and local government fees and charges.

 

Treasurer Dominic Perrottet said the Small Business Fees and Charges Rebate was designed to benefit tens of thousands of small businesses across the state as NSW continues its post-pandemic recovery.

 

https://nsw.liberal.org.au/Shared-Content/News/2021/SMALL-BUSINESS-REBATE-SCHEME-KICKS-OFF

IBM services business unveils new post-split name: Kyndryl

 IBM has settled on a new name for its US$19 billion managed infrastructure services business once it’s spun out from Big Blue later this year: Kyndryl.

The technology giant revealed Monday that Kyndryl will be based in New York City and adopt a logo with the company’s name written in red and entirely in lowercase. The spinout of the 4,600-client Kyndryl business is expected to occur by the end of 2021, more than a year after the separation plan was first unveiled.

https://www.crn.com.au/news/ibm-services-business-unveils-new-post-split-name-kyndryl-563251

ATO mum on portal decommissioning date as Online services for business launches

 The launch comes after the ATO conducted a public beta earlier this year, with a view to replace the Business Portal and electronic superannuation audit tool (eSAT) at a yet-to-be-confirmed date later this year.

Businesses and self-managed super fund auditors will now be able to access the new service through their myGovID, with the ATO touting a range of new features on Online services.

Some of the new features include allowing owners to switch between ABNs with a single login, lodge taxable payment annual reports and create payment plans.

https://www.accountantsdaily.com.au/technology/15560-ato-mum-on-portal-decommissioning-date-as-online-services-for-business-launches