This article focuses on the topic many people grapple with in life – what to do to achieve a balance in work and lifestyle without a major impact on finances. It covers various options and recommends financial advice before making a big move. Work-life balance. It’s something everyone seeks, but... read more →
Apr
19
Apr
12
Maintaining appropriate cash flow is a critical component of running a successful business. Despite this, running out of liquid capital is one of the most common reasons that small businesses fail. Monitoring cash flow and planning accordingly is important at every stage of the business lifecycle; however, it is... read more →
Apr
12
Newcastle based Leenane Templeton Chartered Accountants & Business Advisors has been shortlisted for the prestigious Australian Accounting Awards, partnered by Thomson Reuters. Andrew Frith of Leenane Templeton is in the running to take out one of Australia’s top industry awards. Leenane Templeton has been shortlisted as a finalist to win... read more →
Apr
05
Despite the Australian Tax Office’s education campaign on GST reporting, many small business owners continue to make errors when claiming GST credits in their GST returns or Business Activity Statements. The vast majority of errors are easily avoidable and relate to the over-claiming of GST credits. Here are the... read more →
Mar
29
A new report has revealed around 2.4 million or almost one third of Australian workers are missing out on some or all of their super entitlements and little is being done about it. Under the Superannuation Guarantee (SG), employers must contribute 9.5 per cent into the super account of... read more →
Mar
21
The ATO is targeting individuals (at, or approaching, retirement age) purporting to divert personal services income to a SMSF to minimise or avoid income tax obligations. A person earns personal services income (PSI) when 50 per cent of their income is earned from offering products or services that involve their... read more →
Feb
12
The disposal of a depreciating asset may incur capital gains tax (CGT) if the asset has been used for a nontaxable purpose (i.e. private purposes). However, there a number of CGT exemptions that may apply to a capital gain or capital loss made from the disposal of a depreciating... read more →
Nov
23
With help from the internet, a new business model is quietly turning millions of ‘average Joes’ into entrepreneurs. Uber is connecting riders with drivers through apps. Airbnb is connecting hosts with travellers looking for a place to sleep through its website. Zopa is connecting lenders with borrowers through its peer-to-peer... read more →
Nov
17
Peer to Peer, or ‘P2P’, lending is a method of bringing borrowers and lenders together without a traditional financial institution to act as intermediary. This increasingly popular form of lending takes advantage of the internet to connect individuals who have money to lend with those who require funding for any... read more →
Nov
10
Virtual currencies, or cyber currencies, are both a medium of exchange and a store of value, just like traditional money. However, unlike banknotes or coins cyber currencies exist only as digital data stored in computers. Trading in virtual currencies requires membership in an online community connected by appropriate software, with... read more →