Hope on the horizon for the arts, film & television
It appears that Australia’s handling of the COVID-19 pandemic may yet provide a silver lining to those working in the film and television industry, with recent announcements of major Hollywood blockbusters to be produced on our shores. While it remains to be seen whether the benefits will flow on to local professionals delivering Australian content, […]
Overcoming financial blind spots
It is not unusual for business owners to have financial blind spots. These can be caused by a lack of confidence in either their own financial knowledge or in the systems they use for gathering financial data. Sometimes it’s a general disinterest in accounts and back of house matters brought about by a lack of […]
Faster sale, higher sale price
If retirement is looming large or perhaps you are considering your options after a year of disruption and uncertainty, and may be thinking of selling your business. It’s important to know, that businesses that are well prepared for sale, sell faster and usually at a higher price, than those that are less prepared. Impatience and the […]
Business bounce back
For well-advised and prepared businesses, business resilience strategies are in-built. It should always be assumed that at some stage during business life, circumstances will serve up challenges that cause set-backs from which the business will need to recover. Here we outline the business basics that bolster business resilience and enable businesses to bounce back following adversity. […]
Business owners and directors: Are your personal assets protected?
In your position as a business owner or director, your personal and business assets could be at considerable financial risk if you fail to put strategies in place to protect your personal assets. As a director you can be subjected to personal liability that includes exposing your personal assets even if you have a company […]
Is your OLD business structure right for the NEW normal?
The business structure implemented when you first started your business may no longer be suitable. Reviewing your business, and possibly restructuring, may result in substantial improvements in the current business environment. Further, if your business value is down due to COVID-19 circumstances, now may be an ideal time to implement changes for the better, which […]
2020FY Tax Planning
As 30 June 2020 approaches, now is the time to consider available options to reduce your income tax in the current financial year (2020FY). The 2020FY has been extraordinary, starting with the devastation of the eastern seaboard bushfires which was followed by the significant economic and social upheaval associated with the arrival of the COVID-19 […]
IMPORTANT: End of Financial Year SMSF Reminders
Building wealth tax effectively within your SMSF should be a priority and approaching the end of the financial year is the ideal time to review your strategy in context of your financial affairs as a whole. Adjustments may be required to help you take advantage of the tax-efficient retirement savings environment, cost benefits and flexibility […]
Looking for a smooth transition to Single Touch Payroll (STP)?
By Gary Williams, Partner Single Touch Payroll (STP) for all employers came into effect from 1 July, 2019. If you’re not using STP, either because it’s not yet implemented in your business or you are experiencing difficulties with your accounting system that prevents you from submitting your reports, you need to take action as soon as possible. To comply, you will need a STP software solution that reports […]
Federal Budget 2019-2020 Summary Report
The 2019-20 Federal Budget contains few surprises. The major – and widely expected – initiative is an extension of the Government’s personal income tax cuts from those announced in the 2018-19 Budget which match and raise the more generous benefits which Labor announced in response to the Government’s previous measures: at a cost of $5.7 billion […]
FIVE Strategic Steps for Building your Super
For most Australians, superannuation represents a lifetime of saving and provides the promise of a bright and comfortable future. It makes good sense to do what you can to maximise your super by contributing as much as possible while you are still working. Regular contributions are most effective for boosting your super balance, but it’s […]
Case Study: How to beat the cash flow crunch
by Elias Makris, Partner This case study highlights how important it is for the owners of small to medium sized businesses (SMEs) to understand the true costs of running their business and the factors influencing their profit and cash flow. It also provides guidance on how to structure funding arrangements for unique business circumstances and how […]