Superannuation issues are some of the most important considerations to keep in mind as the end of the financial year approaches. Spouse contributions The spouse super tax offset allows higher earning taxpayers who contribute super for their non-working or low income earning partners to be eligible for a... read more →
May
13
May
09
The next Super Stream date is looming! For the past few years we've been reminding clients about the new data and payment standard designed to improve the operation and efficiencies of rollovers and contributions in the superannuation system. All employers and superfunds are required to make and receive super contributions... read more →
May
08
Preparation is the key to efficient and effective business planning for the year ahead. The beginning of the new financial year is the perfect time to establish the businesses goals and put in place a plan to achieve them. Contacting a tax professional can help the business to... read more →
May
05
The ATO has warned SMSF trustees about a new range of administrative penalties that can be imposed for a range of breaches of the law. This includes breaches that may be inadvertent. This new legislation received Royal Assent on 18 March 2014 and will make new penalties available to... read more →
Apr
27
The operations of most small businesses rely on at least one or two pivotal people: usually the owner and perhaps a valued employee. If one of these key people were to experience a major illness or injury, or perhaps die, there is a good chance that the business would struggle... read more →
Apr
22
The main reason people go into business for themselves is quite simple – to have more control. For others, wealth creation is the main focus, although small business also brings with it the higher chance of failure and loss. Is the hard work and extra risk worth it? If... read more →
Apr
20
One of the biggest financial commitments most of us will ever make is the mortgage on our home. So it is no surprise that the potential savings from adopting a smart mortgage strategy can also be remarkable. Take this example… Steve and Nicole purchased a home for $500,000... read more →
Apr
15
As a business owner, there is always something to do, however many owners often spend more time working in the business than they do on managing the business. Here are ten simple management tips to help you maintain a successful business in good and not-so-good times. 1. Watch trends... read more →
Apr
13
To ensure continuity, a succession plan is absolutely essential for every family business. And this is regardless of whether the family runs a global empire, family farm or corner store. History shows that succession is the Achilles Heel of the family business. A key study on family-owned enterprises in Australia ... read more →
Mar
27
Maintaining good records will help businesses manage their cash flow and make sound business decisions. It will also ensure that businesses are meeting their tax obligations. Keeping good records is essential for those in business and can potentially save a business significant time and money. Poor record keeping is often... read more →