It may seem like the importance of record-keeping is overly stressed by us, but it’s a critical part of the wrap-up of the year-end. Good record-keeping makes it easier to meet your tax obligations, manage your cash flow and make sound business decisions going forward. Put the hard work in... read more →
Jun
28
Jun
27
With superannuation being the key to a comfortable retirement, here are some of the strategies to consider that could help with streamlining your finances (while also taking into account some considerable tax breaks). Concessional ContributionsAlso known as the before-tax contributions, these are the funds that go into your super account... read more →
Jun
21
Maximise your tax deductions for the 2021-22 financial year by conducting a thorough review of your records. But to do that, you need to know where to start. Here are some of our top tips for businesses and individuals when it comes to year-end tax planning. For Businesses Temporary Full-Expensing... read more →
Jun
15
In order to prepare your trust for the end of the financial year, there are multiple obligations that you need to fulfil as a trustee. Planning for your trust’s future is just as important as tax planning or business planning, so it’s encouraged that you take an active role. Trust... read more →
Jun
03
Benjamin Franklin once famously said, “if you fail to plan, you are planning to fail”. He may not have been referring specifically to businesses but it is an apt statement for individuals and businesses alike. We all need to plan where we are going. It could be as simple as... read more →
May
17
Tax deductions introduced by the Australian Taxation Office to lessen the impact of COVID-19 are approaching the end of their eligible timeframe. To ensure that you or your business do not miss out, here are some of the deductions you could claim at the end of this financial year (if... read more →
May
10
Your Work-Related Tax Deduction Checklist For This Year’s Tax Return Made EasyThe end of the financial year is coming up (30 June), and you may be looking for ways in which you could make tax savings in this year’s tax return. This could be through tax deductions, expenses that you... read more →
May
02
As of 5 April 2022, new Directors will need to have applied for their Director Identification Number (DIN) prior to their appointment to the position.Existing directors were required to obtain a DIN prior to the end of the transitional period (30 November 2022), whereas directors of Indigenous Corporation have until... read more →
Apr
28
Inflation is a hot topic at the moment. But what exactly is it, and how does it affect you and your money? Inflation is making news daily through wage inflation, energy inflation, food inflation, fuel inflation… and not just in Australia, but in many other countries too. In simple terms,... read more →
Mar
29
We have pleasure in enclosing a summary of the tax, superannuation and social security highlights from the Federal Government's 2022/23 Budget. Addressing Cost of Living Pressures – temporary reduction in fuel excise Global oil prices have risen significantly since the Russian invasion of Ukraine. The Government will help reduce the... read more →
Mar
24
The end of the FBT year (1 April - 31st March) is fast approaching, and it is a good time to reflect on your FBT plans for the year. Fringe benefits are benefits that you provide to your staff that fall outside the categories of traditional wages and salaries. Examples... read more →
Mar
15
Whatever you want to do, you’re more likely to do it with the help of some sound financial advice. We all have something we’d like to be doing more of. It could be spending more time on hobbies, less time at work and more time raising a family, more time... read more →
Mar
02
Business owners will often reflect on Asset Protection as something they ‘should have done’ which can be painfully costly. Asset protection is a necessity. It allows individuals to make a legal distinction between their personal and business assets. Courts don’t often respond well to assets being sold off after the... read more →
Feb
14
Cash flow problems are the reason that 82% of small businesses fail. One of the ways you can prevent your business from being one of them is by using a cash flow forecast. Small business owners are often faced with stressful financial decisions and periods of uncertainty. Having a cash... read more →
Feb
03
Interest rates are at all time lows around the world, however with recent discussions of interest rate rises we will look at how interest rates affect stock markets and what may happen in an interest rate rise. Ask yourself this – how much would someone have to give you in... read more →
Jan
19
If you want your business to thrive in your particular market on a long-term basis, you need to be certain that it can perform independently of any one individual - and that should include you. The most effective way you can grow your business is by removing yourself from the... read more →
Dec
01
If you are a small business owner you would know the importance of having a good team behind you. That includes a team that can help look after your finances, talk to you about appropriate business insurance and discuss succession planning for when you decide to wind up the business,... read more →
Nov
16
It’s not uncommon for business owners to take short, irregular holidays because they don’t have the support to keep their business running without them for a longer break. Aside from taking time off for leisure, have you considered what would happen if you were forced to take six months off... read more →
Nov
01
From November 2021 it is a requirement for all directors of a company in Australia to apply for a director identification number (DIN) in order to meet their obligations under the Corporations Act 2001 (Cth) and the Treasury Law Amendment (Registries Modernisation and Other Measures) Act 2020 (Cth). The purpose... read more →
Oct
20
A business plan establishes the goals and objectives of a business and outlines how they will be achieved. It is vital, especially for small businesses, to review progress and update processes to achieve targets. Business plans should include: • Executive summary: Identify what your business mission statement is, outline your... read more →