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
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
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
Welcome to our May publication. After an extraordinary month of social and economic hibernation, there are positive signs that some of the restrictions on our everyday lives will soon be loosened somewhat. This is welcome news for households, businesses and our economy. Within a matter of months Australia has gone from having an essentially healthy economy to one in need of resuscitation. The Morrison Government has stepped in with unprecedented… Read more
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
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
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