Reporting of transfer balance account information Editor: The recent superannuation reforms introduced the concept of a ‘transfer balance account’, to basically record the value of member balances moving into or out of ‘retirement phase’. In order to monitor these amounts, … Read More
Imagine this: Your business sales and activities are going gangbusters, but at the end of the fortnight there is no money in the bank to pay your staff. If you’ve been there you would know how stressful a situation this … Read More
No small business tax rate for passive investment companies The Government has released draft tax legislation to clarify that passive investment companies cannot access the lower company tax rate for small businesses of 27.5%, but will still pay tax at … Read More
From time to time, companies and organisations undertake a SWOT analysis, where managers and staff look at what Strengths & Weaknesses the business has, and what Opportunities & Threats the business is facing in the current business environment. I highly … Read More
In our last few blogs we have talked about whether or not your business is saleable and some ideas to help improve that. Here are some numbers that would scare you: With only 10% of strategies being executed, business owners … Read More
In a recent article, we looked at when might be the best time to sell your business, what you need to have in place to make your business attractive to a buyer, and whether you and your business were actually … Read More
When you start a new project for your clients you probably have certain routines to get them up and running. Everything runs a certain way when you do business, from quoting for the job, scheduling it in your calendar of … Read More
It’s an unpleasant reality of running a business – sometimes you’re going to have to cut costs. You only have to look at the sobering examples of Holden and Toyota announcing they’ll take their car manufacturing operations overseas, which will … Read More
Going into business can be a very rewarding experience, and going out of business making a profit can be even sweeter. However, it is estimated that only 21% of businesses owners ever sell their business. Many business owners believe that … Read More
The old adage “You don’t know what you don’t know” applies to many areas of life, including what you can claim on tax. Small business owners are generally well clued up as to what they can claim as a tax-deductible … Read More