NFP Newsletter Winter 2022

This month’s NFP newsletter tackles on updates under Governance, Compliance, ACNC, Financial Reporting, and Governments. Minimum wage increases announced The Fair Work Commission has reminded employers that new national minimum-wage increases announced before have come into effect. Director ID deadlines loom Directors of charities that are companies or Aboriginal and Torres Strait Islander corporations must apply for director identification numbers. Home nursing company in court The FWO has begun legal action against the operators of a…  Read more

Business & Profit Matters – Winter 2022

In what has been a cold and dreary July, it’s business as usual after our end of financial year celebrations and resolutions. This edition of Business & Profit matters covers the latest rise in minimum wages, how to classify casual workers and how to handle increasing business costs as inflation rises. B&PM Winter 2022    Read more

Collins & Co Wealth Management Newsletter

This month’s wealth management newsletter covers some important news. There are new and exciting opportunities in the superannuation space this financial year including changes to the work test, an extension of the bring-forward rule and downsizing rules have changed.  2022.07 Collins Co July Newsletter   Read more

Tax & Super Newsletter

In this month’s edition of Tax & Super, we cover all the latest news including the ATO’s debt collection activities ramping up, changes to super guarantees, tax time for small business and some scam myths that you should know.   COLLINS&CO-July-2022    Read more

Tax & Super Newsletter – May 2022

This month’s newsletter includes a range of topics about superannuation and tax matters. Superannuation can be a great investment for your future, find out how a superfund can provide value to you long into your retirement. There are further developments on how trust distributions are being cracked down on by the ATO and also how you can finance a motor vehicle. Read more here  Read more

NFP Newsletter May 2022

This edition of the Collins & Co Not-For-Profit newsletter includes a variety of different topics in the NFP space. Director ID numbers, ACNC news and financial reporting insights are all included in this edition of the NFP newsletter. Click this link to read more.    Read more

Important Things to Know about an Estate Plan

If putting together your estate plan isn’t at the top of your priority list, you’re not alone. It’s something that people typically don’t want to do–for a variety of reasons. It’s not fun to think about what happens after we’re gone, and we often believe we have a lot of time to get our affairs in order. No matter how large or small your estate is, you need a plan…  Read more

The 2022 – 2023 Budget Explainer

The 2022-2023 Federal Budget has just been released and forecasts a strong recovery out of the crisis that has been the last two years. Low unemployment, rising wages growth are expected despite the ongoing pandemic and the war in Ukraine. The government is heading into the election trying to limit rising living costs. As expected there has been a temporary cut to fuel excise and one-off payments for pensioners and…  Read more

4 Tips to Improve Your Business Negotiation Skills

Owning your business requires many skills, and among the most important might be the ability to manage negotiations. As a business owner, you could find yourself negotiating in many circumstances, such as: Salary and job expectations with a potential employee Financing terms with a lender Payment terms with a supplier Lease or property agreements Equipment agreements. Your ability to negotiate will have an impact on your financial situation, which is…  Read more

Main Causes of Stress for Business Owners & How to Counter Them

Many entrepreneurs believe that hard work and dogged determination are all it takes to build and sustain a successful business. But when you consider the pressures of running a company, it seems wise to add effective stress-management to the list. Left unchecked, stress can erode your passion and undermine performance – not to mention, take a serious toll on your health. Research compiled by Office Vibe reveals that over 70%…  Read more

Understanding Australia’s Director Identification Number

In its 2020 Budget Digital Business Plan, the Australian government announced the full implementation of the Modernising Business Registers (MBR) program. The program is designed to both establish the new Australian Business Registry Services (ABRS), and enhance how businesses register and manage their information with the government. If a director of an organisation is registered under the Corporations Act fails to apply for a DIN within the applicable time frame,…  Read more

Wealth & Super Matters March 2022

Read more about wealth generation and superannuation matters in this month’s edition of Wealth & Super. We cover some key interest areas such as SMSFs investing in cryptocurrency, driving Uber to boost your income and heaps more. March 2022  Read more

How to: Improve Your Delegation Skills

When you run your own business, it’s tempting to take on every responsibility. There are many reasons for doing so: because you want something done a specific way, because you don’t have the time to explain how to do it, or because you’re not sure someone else can handle the task. Delegating saves you valuable time and energy. Sharing duties with your team also fosters a sense of responsibility, engages…  Read more

How to: Keep Your Employees Happy

Traditionally, employers have relied on giving employees raises as a way to retain their staff and reward them for being hard-working and loyal. Raises can get expensive, and there is often an upper limit for what you can offer when it comes to increasing salaries and wages. Keeping your employees happy makes business sense. You want to keep your good employees, and it costs money to find, hire and train…  Read more

Differences Between an Accountant and a Financial Planner

When it comes to managing your finances, there are two professions that can help you understand your numbers, and ensure you have a plan to get to where you want to be. Accountants and financial planners can both play an important role in your financial success, but there are some important differences between the two. For any successful business, it’s advisable to have both an accountant and a financial planner…  Read more

Setting and Achieving Financial Goals

Financial security, whether that’s for a business or an individual, requires planning. You need to know where you want to be, where you are now, and how to cross the gap between the two places. Having goals and a plan makes it more likely that you’ll achieve financial security–whatever that means to you. Here are some steps to setting your financial goals. 1. Be specific with what you want It’s…  Read more

NFP Newsletter January 2022

This issue of the NFP newsletter covers a range of topics. Be sure to click the link below to read more about the NSW government’s inquiry into the use of poker machines for money laundering, all the latest ACNC news and how you can help NFPs with best-practice. Click here to read more Issue 31 – JAN 2022  Read more

E-invoicing: A Huge Cashflow Win for Australian Businesses

The Australian government has made some important announcements over the past few months with regard to e-invoicing. In the 2021-22 Budget, the government committed $15.3 million to increase the adoption of e-invoicing, which guarantees accelerated payment terms and low cost invoicing. In this article, we will look deeper into what e-invoicing is and how any type of business can benefit from it. What is e-invoicing? Over 1.2 billion Business to…  Read more

End of Year Update 2021

In the 2021 end of year update, we’re wrapping things up with an interesting issue including the tax sting of changing jobs, how to prepare your business for the holiday season, how to take advantage of Christmas marketing and contributing to your super fund! EOYU-2021  Read more

Can Christmas Parties be Tax Deductible?

While your business may not necessarily be planning an extravagant bash after the events of this year, a Christmas party may be on the menu for your hard-working employees. Planning out your Christmas party in a COVID-safe manner with a little knowledge of the tax deductions you might be able to claim back can make the giving a little sweeter this year. The Venue You can take advantage of the…  Read more

Top 3 Tips For Your Holiday Business Marketing

While marketing is important throughout the year, the holidays bring with it a trove of opportunities for small businesses to get their content in front of their clients. It’s a guarantee that your customers will be out to buy. The hard part is making sure they buy from you. Creative marketing is crucial to ensure that your business stands out from your competitors. That doesn’t mean that the budget needs…  Read more

Is your home loan protected?

Buying a property is a big investment. It’s often one of the most important investments people make in their lives. When it comes to getting a mortgage, many buyers focus solely on the immediate steps they have to take and fail to consider the right protections. This week’s article breaks down some key types of mortgage insurance and answers the question, do you really need insurance for your mortgage? What…  Read more

NFP Advisor Issue 30 – October 2021

This quarter’s NFP newsletter is another jam-packed edition covering off all the news in the NFP space. Read now about Australian Director Identification Numbers, Red-tape Reductions, Deductible Gift Recipients and all the latest ACNC activities. Click here to read NFP Advisor Issue 30 – October 2021  Get in contact with us to discuss NFP or any of your other business advisory queries.  Read more

Where did all the money go?

Busting the top 5 myths about sorting your finances Wondering where all your money goes is common: no matter how much you earn, it seems like there’s never enough and it just seems to vanish. Research shows that 86% of Australian’s do not know where their money goes each month[1]. So, if this sounds familiar, you’re not alone. It can be an overwhelming feeling, often not knowing where to start.…  Read more

Compensation Payments, Home as a Place of Business, Christmas & the Taxman

In this month’s edition of Tax & Super, we take a look at a few different topics in the space of Tax and Super. This month’s newsletter is a busy one! Including, compensation payments, the home as a place of business, inheriting rental properties jointly, SuperStream deadline fast approaching, Christmas & the Taxman. Don’t miss out on this jam-packed newsletter. Read more by clicking this link  Read more

Succession Planning: A will for your business

“Good things don’t last forever” The unfortunate reality is most business owners don’t take proper holidays. Usually, this is because their business relies on them and they don’t have the support to keep the business running without them. As a business owner, have you ever considered what would happen to the business if you had to take a six months break because of a serious illness or injury? Would the…  Read more

Business Matters – Winter 2021 Edition

Our quarterly Business Matters edition is out now for your perusal. In this issue we cover the following topics. New Support Payments for workers affected by COVID-19 Lockdowns Managing Employees working from home Worker shortage to drive potential wage increase Superannuation Guarantee Rate Increase Are you in the right business structure Succession Planning and your family business. The publication is for guidance only and is available here. Should you seek…  Read more

Introducing Alysia West as our newest Partner to Collins & Co

It is with great pleasure we introduce Alysia West as our newest Partner to Collins & Co Managing Partner of Collins & Co, Paul Kelly said “Alysia exemplifies the level of service and commitment that many of our clients have become accustomed to with the necessary empathy and values that are upheld at Collins & Co. With the introduction of Alysia to the Partnership our leadership team continues to consolidate…  Read more

Managing Field Workers in Your Construction Business

It’s one thing to manage workers when they’re all in the same place at the same time. However, when you run a construction business with field workers, things can get a lot more challenging. Not only are you typically not on the same job site as them, you might also have workers scattered over a variety of sites and projects. Managing them doesn’t just mean scheduling them and making sure…  Read more

3 Reasons Why Business Partners Break Up and How to Prevent Them

For many business owners, partnerships are an ideal way to run a business. Operating a business with a partner means you don’t have to make all the decisions on your own. It means you have someone there with you, to help you carry the burden and share ideas with. That can be a great thing, when it lasts. Unfortunately, many business partnerships fail. Although they fail for a variety of…  Read more

Tax & Super – June 2021 edition

The June edition of Tax & Super is available for you to read. In this edition we will be covering the following topics. The tax treatment of cryptocurrency New guidance on “personal services income” rules Briefing a barrister The ATO’s eligibility requirements for SMSF trustees or directors The newsletter is available here. As always if you have any questions, do hesitate to reach out to us on 03 9680 1000.  Read more

Tax & Super – Special Budget Edition 2021-22

The Government has decided not to go down the austerity path, which will be a relief for many taxpayers and businesses. In this release of Tax & Super, we provide a special budget edition. It includes the following items: Superannuation and Related Measures Housing Business Welfare Individuals You can find out more here.  Read more

CCWM Federal Budget 2021-22 Analysis

Treasurer Josh Frydenberg’s second pandemic Budget, and possibly his last before the next federal election, is a big spending Budget aimed squarely at a swift economic recovery. As widely tipped, the focus is on jobs, aged care, childcare, women and first -home buyers with some superannuation and tax sweeteners added for good measure. As always, if you would like to discuss how the Budget might impact your finances, don’t hesitate…  Read more

Collinsco Wealth Management – April 2021 Newsletter

April begun with a welcome Easter break. As the vaccine roll-out continues, restrictions ease, and life is a little closer to normal despite occasional setbacks. It’s not often that boring bonds make headlines, but they have lately due to a sharp rise in interest rates. In this snapshot, we discuss what rising bond rates tell us about market expectations around economic growth and inflation. We also look at the possible…  Read more

Collins & Co Super Matters – Autumn 2021

The new edition of Super Matters is now available. Topics include the following: Changes to contribution and pension caps; The work test; What is “Retirement”; Super versus Home Loan You will find all of the information in this link Super Matters Autumn 2021  Read more

CollinsCo Wealth Management Newsletter – February

It’s February, the kids are back at school and the nation is getting back to business. It’s still not business as usual, but with the vaccine rollout about to begin there is a growing sense of optimism. There has been a lot of debate in recent years about self-managed super funds (SMSFs) and how much you need to have in them to make them cost-effective. So in this month’s snapshot,…  Read more

Client Information Newsletter – November

What the “full expensing” write off deduction means for business The Federal Budget measure of allowing businesses to fully write-off eligible assets is a boon to Australian businesses, even though the measure is temporary. Click here to read the newsletter  Read more

JobKeeper – Easing Eligibility

As the impact of the Coronavirus on our daily lives and livelihoods rapidly evolves, below are the latest measures released by the Government to reduce both the impact to the nations health, economy, household and business finances. More businesses and not-for-profits will be eligible for JobKeeper payment extension under a $15.6 billion change to the scheme announced on August 7. The Government initially outlined the JobKeeper extension guidelines on July…  Read more

CollinsCo Wealth Management Newsletter – June

Winter 2020 Winter is here and we are almost at the end of another financial year. And what a year it’s been! With so many Australians impacted by fires, floods, drought and now COVID-19, let’s hope the new financial year sees a return to something like normality. As Australians head back to work and school thoughts are turning to rebooting the economy, so we survey the road to recovery as the first article in our Winter newsletter.…  Read more

Client Information Newsletter – June 2020

Last-minute tax planning tactics This financial year is almost over, but there are still effective strategies you may be able to employ to make sure you pay the right amount of tax for the 2019-20 year and maximise any refund entitlement. This is still, if not more so, the case in the current COVID-19 environment. Click here to read the newsletter  Read more

Client Information Newsletter – May

Answers to COVID-19 work-from home expense questions and CGT concerns There are many questions being asked lately about claiming expenses when forced to work from home over the COVID-19 period, plus a lot of concern about any consequent capital gains issues when later selling a property from which people have been coerced to work from during this time. What we cover in this issue: Work-from Home Expense and CGT Concerns…  Read more

Improving cash flow: How to get paid faster

Maintaining positive cash flow can be challenging for small businesses, whether you’re just starting out or have been running your company for years. The difficulty often comes down to waiting for clients to pay their invoices. One or two chronic late payers cost valuable time and money when you have to chase them down; if reliable clients also fall behind one month, the result can be devastating. These tips will…  Read more

Tax tips for new business owners

Want to avoid paying more than you should come tax time? Or a frantic last minute search for missing financial records? New business owners have a lot on their plate, and can easily lose track of an approaching tax deadline or financial data needed to submit their return. Organization is key when preparing for tax time. As is taking advantage of the many tools and resources out there to support…  Read more

What is your succession plan?

According to recent research, a staggering two thirds of US millionaire-owned businesses are operating without a succession plan—and even fewer small business owners around the globe are prepared for their CEO’s eventual exit. Recent stats from PWC Global show that family owned businesses are no more prepared: 43% don’t have a succession plan in place, and only 12% survive to the third generation. No matter whether your company has one…  Read more

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