The ATO is warning that scammers have adopted ‘Robocall’ technology to target taxpayers across the country. Assistant Commissioner Gavin Siebert said: “Scammers are sending pre-recorded messages in record numbers and are manipulating caller identification so that your phone displays a … Read More
By calculating the true value of a customer, or potential customer, it places a value on the total sales and profits generated by the customer over their lifetime with the business. The actual numbers can be astounding. For example, although … Read More
The ATO has recently warned employers that it considers that annual leave loading should normally be part of ordinary time earnings (‘OTE’) for superannuation guarantee (‘SG’) purposes, unless it is referrable to a “lost opportunity to work overtime”. Therefore, if … Read More
This tax strategy enables business owners to utilise the value of their business goodwill to pay out their private mortgage and convert a non-deductible mortgage into tax deductible debt. The average Australian family is paying over $25,000 interest per year … Read More
In the last week of the August Parliamentary sittings, the controversial corporate tax cut plan for the big end of town (i.e., companies with an aggregated turnover of over $50 million) was defeated. In addition, long-awaited legislation impacting the company … Read More
Editor: Recently issued draft legislation has focused on introducing new measures to manage the growing cash economy (i.e., the ‘black economy’) in light of the Black Economy Taskforce recommendations and recent Federal Budget announcements. Two of these key recommendations are outlined … Read More
In our Blog article 21 Steps to Eliminate Frustration In Your Business we’ve posed 21 questions to help you think about where you’re at in your business right now, and they were ‘hand-on-your-heart’ questions, I admit that. You see, often … Read More
Tradies and small business owners go through different business cycles and growth phases. There could be external factors that are influencing this for you. More often than not though, it’s the strategic decisions that you take which determine the success … Read More
In a typical husband and wife partnership, one partner is qualified (for example an electrician) and produces the partnership income and the other partner may be involved in administration for the partnership. Profits from the partnership are normally split 50/50 … Read More
Many Tradies operate with their business processes and systems in their heads. They know what they need to do each day and the way they want to get things done. Unfortunately when a business grows and staff need to be … Read More