[Event] Build, Grow & Protect Your Business

[Event Update] Build, Grow & Protect Your Business Breakfast Thank-you to those who attended! It was an eventful morning at our recent breakfast event – Build, Grow & Protect Your Business. We had a full house at Flux Co-working Space on St Georges Terrace, an amazing venue. Thank you to all that attended; for those that missed out this time, not to worry, we are hosting many more events during…  Read more

Are you ready for Single Touch Payroll?

Are you ready for Single Touch Payroll? Mandatory from 1 July 2018   The ATO recently announced a change to the way employers report their employees’ payroll information. To help you understand your obligations, we’ve detailed the key points below. Single Touch Payroll essentially aligns your reporting obligations to your payroll processes. Employers are now required to report each time employees are paid (pay cycles do not need to change). Information that needs…  Read more

R&D Tax Deadline for Companies is 30 April

R&D Tax Deadline for Companies is 30 April 2018   Monday, 30 April 2018 is the deadline for companies to register their eligible R&D activities conducted during the year ended 30 June 2017 (last financial year). Companies still seeking to lodge FY17 R&D claims should take immediate action to ensure their activities are adequately assessed, described and registered. Companies registering R&D activities in FY17 need to provide details of:  Core R&D…  Read more

Xero Projects: Drive profitability by easily tracking time and costs on every job

Xero Projects: Drive profitability by easily tracking time and costs on every job Article by Claude Collica – MVP Financial Senior Accounting & Taxation   Are you a small business owner that needs to track jobs to maximise the best return on your investment? Are you still fiddling around with spreadsheets to monitor your jobs, or worse still writing everything down on paper?! Don’t worry, you’re likely not the only…  Read more

9 BUSINESS TIPS TO KICK-START SECOND HALF OF THE FINANCIAL YEAR 2018

DOUG’S DESK – MVP Small Business Specialist 9 Business Tips to Kick-Start Second Half of the Financial Year 2018 As you return from what was hopefully an enjoyable and restful holiday period, it’s now time to ‘blow off the cobwebs’ and refocus, particularly if you and your team still need to cover ground toward your 2018 business resolutions and goals. A quick introduction to me, Doug Verley. I’m the Small…  Read more

Email Marketing 101 For Small Business

Email Marketing 101 Fоr Small Business Email Marketing has been around for years and years… You know why? Because it works. People all over the world use email to communicate, checking their inbox over and over again in the span of a single day. For small business owners, this means you have more chances of capturing your targets attention; more potential leads and hopefully more clients and/or sales conversions! So,…  Read more

Top Three Small Business Resolutions For 2018

The Top Three Small Business Resolutions For 2018 You Need To Make For most, the new year is a time for reflection, and a time to set goals for the year ahead. Exercising more, eating better, drinking less alcohol or working on a better work-life balance, tend to be at the top of these personal lists. But what about your business? For a small business owner, setting goals for the year…  Read more

5 Money Mindsets That Hold You Back From A Secure Financial Future

5 Money Mindsets That Hold You Back From A Secure Financial Future What’s holding you back from taking control of your financial future? Discover the five mind tricks that can stop you from achieving financial success and what you can do to avoid them. Fear of Failure Earning and saving money from your salary is all very well. But setting up an alternative income stream from an investment portfolio can…  Read more

CGT Relief Deadline Is Fast Approaching – Are You Prepared?

CGT Relief Deadline Is Fast Approaching – Are You Prepared? Here’s what you need to know about the Government’s CGT relief for Self-Managed Super Funds (“SMSFs”).   What is CGT relief? Under the new super reforms, you may be eligible for relief from certain capital gains that may arise as a result of complying with the Transfer Balance Cap ($1.6m) and the Transition to Retirement Income Stream reforms that began…  Read more

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? Aritcle written by Kelvin Smith – MVP Financial Director 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…  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?

Thinking of Selling Your Business? Article written by Kelvin Smith – MVP Financial Director If you are thinking of selling your business, make sure you get professional business advice first. 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.…  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 (“SMSF”) 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. SMSFs are not right for everyone, in this article, we will review the advantages of SMSFs and why thousands of Australians…  Read more