10 Ways To Get More From Your Business Accountant

10 Ways To Get More From Your Business Accountant Great business accountants don’t just do your taxes, they add measurable value to your business, all for an affordable cost that you can control. A growing business rapidly finds it needs the services of an accountant in order to help manage the finances. But which services do you actually need, how should you pay for them, and how do you make…  Read more

Are You Prepared For Selling A Business?

The End Game – Are You Prepared For Selling A Business? Why do you own a business? Are you prepared for selling a business? It’s interesting to consider because it’s shocking how many business owners haven’t taken the time to ask themselves these fundamental questions. Your plans for what you will eventually do with your business is what we term the ‘end game’. From a big picture perspective, having a…  Read more

How to reduce tax – What can you claim against your tax?

It’s tax time again – Learn how to reduce tax using the strategies listed below Please take 2 minutes to read this article, in it we will explain how to reduce tax through what you can claim. This article will detail: – Deductions you can claim – The importance of a fantastic tax accountant – The “tax trap” you need to avoid – Learn more about specific deductions 1. How to reduce…  Read more

Choosing the Right Business Structure

Choosing the Right Business Structure It is important to consider the advantages and disadvantages of each type of business structure and to choose the best structure to suit your circumstances. Factors to consider when selecting a business structure include set-up and ongoing costs, tax implications, asset protection and legal requirements. The four main structures are: 1. Business Structure – Sole trader The owner is a sole proprietor who controls and…  Read more

What is succession planning all about?

What is succession planning all about? Succession planning is one of the more important safety nets for a business owner who wants to build their business with the end goal of selling their business for the maximum value, be it in one, five or 10 years’ time. Yet, as important as this is, many businesses fail to implement a successful exit strategy for their eventual transfer of ownership. The reality…  Read more

Don’t miss the deadline to register for the R&D Tax Incentive

Monday 1st May 2017 is the deadline to register for the R&D Tax Incentive for eligible activities conducted during the year ended 30 June 2016 (last financial year). Companies still seeking to lodge FY16 R&D claims who have not previously submitted their FY16 registrations should take immediate action to ensure their activities are adequately assessed, described and registered. Companies registering R&D activities in FY16 need to provide details of:  Core R&D…  Read more

THINKING OF SELLING YOUR BUSINESS?

If you are thinking of selling your business, Don’t do anything without first getting professional advice For the majority of small to medium sized business owners, the value of your business is your biggest asset and, very likely, your retirement fund. So before selling your business make sure you get the right advice.  It could save you thousands in tax. Upon sale of your business it is critical you receive the…  Read more

R&D Tax Incentive – a new regime

R&D Tax Incentive – a new regime The R&D Tax incentive is a broad-based program that allows innovative companies to receive tax offsets – in the form of a cheque or direct transfer – for companies under $2m turnover in a loss of 43.5% of total R&D expenditure; or 45% for companies between $2m and $20m turnover. Companies of this size in a profit receive a Tax Credit of 13.5%…  Read more

Do you have your tax debts under control?

From 1 July 2017, a new tax measure will come into play for small businesses, and we’re here to help prepare you for this tax change. Businesses that haven’t engaged with the Australian Taxation Office (ATO) to get their tax debts under control could have their tax debt information disclosed to credit reporting agencies by the ATO. Initially, the ATO will be applying this new disclosure measure to businesses with…  Read more

Is a SMSF right for you?

Is a Self Managed Super Fund right for me? A Self Managed Super Fund gives you more control over your super fund, however, there are a number of duties and responsibilities that come with having them, so make sure you understand what’s involved before you take the leap. Self Managed Super Funds are not right for everyone, in this article we will review the advantages of Self Managed Super Funds…  Read more

Tax Planning Strategy 4 – Why use a SMSF

In the lead-up to 30 June 2017, we want you to know how using a SMSF can be a great Tax Planning strategy. Watch the 2 min video below to learn how our expert Tax Planning advice can help you reduce tax and increase your wealth at the same time. Contact us today! The sooner we get started, the sooner we can help you save tax – ensure it’s well before 30…  Read more

What every employer needs to know about Fringe Benefit Tax

Fringe Benefit Tax – What You Need To Know And How To Minimise It This year the Fringe Benefit Tax (“FBT”) year ends on 31 March 2017. The ATO will be reviewing whether all employers who should be paying Fringe Benefit Tax are, and that they are paying the correct amount. To help you meet your Fringe Benefit Tax obligations, here is a list of essential questions (and answers) every employer…  Read more

Boost Revenue with Mobile Solutions

Mobile Solutions are the future of business  If you own a tablet or mobile phone but aren’t taking advantage of mobile sales tools, you’re missing out on the opportunity to shorten your sales cycle and boost your bottom line. From CRM apps to invoicing and payment technology, there’s a mobile solution for your small business that can make it easier to convert prospects to customers – and entice customers to…  Read more

IS YOUR BUSINESS STRUGGLING? – HERE’S WHAT YOU NEED TO DO

Is your business in a state of crisis? I guess the acid test is, are you lying awake at night working through the alternatives in search of the answers? I apologise if this sounds dramatic, but a failing business can be a very dramatic and stressful matter, particularly when it is that business that puts food on the family table, or it is the success or failure of that business…  Read more

Video – How to capitalise on your last chance to make BIG superannuation contributions

Superannuation contributions are a great tax effective way to save for your retirement and can help significantly cut your tax liability when done correctly.  So check out the video below to see if this tax reduction strategy could work for you! Let’s face it nobody wants to pay a cent more in tax than they really need to.  However every year we see thousands of business owners pay above the…  Read more

Video – The Secrets to Tax Planning

Too often, we end up suffering because we have procrastinated and not made a positive decision to do something. If we all leave your tax planning until the end of May and early June, quite frankly there may not be enough time to do anything significant to legally reduce your tax. So, for 2017, our invitation to you is to start now with your tax planning. In the lead-up to…  Read more

Characteristics Of A Business In A Crisis Situation

When a business falls upon hard times, often business owner-managers (management) don’t realise what’s happening, or they deny that they are facing a potential business crisis. Inevitably if the business owner-manager does not take the appropriate measures to reverse business decline a crisis situation will develop, threatening the very existence of the business. This occurrence almost always catches management by surprise, manifesting itself in high levels of stress. Only once…  Read more

Increase your profits with cloud accounting

How cloud accounting software can significantly increase your profits As experienced business accountants and Xero Gold Partners, we have seen time and time again how Cloud Accounting Software has helped our clients to significantly improve their finances, whilst saving them time and money. Unlike the clunky accounting software of the past, Xero Cloud Accounting Software is designed with the end user in mind.  It is user-friendly and easy to use.…  Read more