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 [...]
Online payment gateway If you wish, you can now pay your invoices via our website. Our online payment gateway enables you to make a credit card payment 24/7. Or, if your business has an ABN, you may apply for a monthly payment agreement for amounts over $1,000. Our credit card payment facility utilises the latest [...]
Single Touch Payroll (STP) is a reporting change for employers. Employers must report payments - such as salaries and wages, PAYG withholding and super information - directly to the ATO from their payroll solution at the time they pay their employees. Key dates: Since 1 July 2018 - STP is mandatory for employers with at least [...]
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 [...]
by Elias Makris, Partner Control is a key factor in business succession. If you do not control your business succession, you will not realise the potential benefits that are available. At the same time, certain pressures will impact on your succession that you cannot control. It is critical that you understand exactly how control affects [...]
by Elias Makris, Partner What do you consider an ‘adequate’ retirement income and how do you plan to achieve that? The following facts and statistics may influence your answer: Only 1 in 15 retirees (7%) live on an annual income of $70,000 or more. Almost one million people have returned to work since retiring. Four [...]
by Elias Makris, Partner While traditional benchmarking measures historical performance, ‘value improvement benchmarking’ is future-focused, and identifies and quantifies business strengths and weaknesses. This in turn informs strategy for improving the future value of the business. Value improvement benchmarking provides clear insights that support the steps necessary for increasing the value of your business by [...]
Background David was a 53-year-old owner/operator of a successful business providing professional services to the building and construction industry. He was the key revenue earner in his business, he had no formal succession plan in place, and had always rejected merger talks with like businesses for fear of losing control. David had been planning to [...]
by Elias Makris, Partner Are you guilty of assuming that the sale of your business will fund your retirement? Wouldn’t it be more prudent to know for sure? It all starts with identifying the ‘value gap’. That is, the difference between what your business is worth and what you need at the time of its [...]
by Elias Makris, Partner According to research*, there are three challenges preoccupying SME business owners: 1. How to de-risk the business; 2. How to improve efficiency; and 3. How to work smarter. Recent statistics indicate that despite wanting to avoid risk, 68% of SMEs don’t know their top 5 risks or how to manage and [...]
