SMSF update – member declaration required by 30 June 2017
The ATO has released guidance for SMSF members and trustees effected by the 1.6 million balance cap with a member declaration required by 30 June. The member declaration is to give permission to the trustees to commute any balances over... Read More →
Have You Prepared Next Year’s Financial Forecast?
With the 2017/18 financial year only a couple of months away, many SME businesses will start the year without a well built 3-way financial forecast. Why Prepare A Financial Forecast? As we go into the new Australian financial year... Read More →
Too many companies are missing out on the R&D tax incentive
We’re exceptionally fortunate to be living in a country that prides itself on the potential of its people and takes active steps to support that talent in their business endeavours. The research and development tax incentive, arguably Australia’s premium government... Read More →
Buy/Sell agreements and succession planning
Businesses who fail to plan for death or serious illness of a principal may live to regret it! Imagine this – one of your co-owners falls seriously ill and needs to exit the business. Can you pay them out? How... Read More →
Why startups need to avoid an “eyes on the prize” mentality
I have seen one big similarity between startup founders and a certain behavioural tendency of university student – compartmentalisation. If you were anything like me all I wanted to do in uni was pass the subject, never hear about it... Read More →
Everything founders and investors need to know about the new startup tax incentives
A number of months ago the government introduced tax incentives for early stage investors whereby from 1 July 2016, if you invest in a qualifying early-stage innovation company (ESIC), you may be eligible for tax incentives. A few of the... Read More →
Record keeping
Does your office look like this: Or this: Xero has functionality to save down invoices against the payment in the system. Takes less than 10 seconds to attach an invoice to a payment in Xero and forever saved... Read More →
Stamp duty, not to be forgotten
You purchase a business, it feels like a bargain……..until you realise how much stamp duty you have to pay. How can you structure your purchase in the most effective way? You have two basic options – purchasing assets, or shares... Read More →
What are the latest trends in work place automation?
Cloud base services (Infrastructure as a service, Platform as a service and Software as a service) has opened up a number of traditional professions to new and improved services as workplace automation is becoming simpler to implement for many businesses.... Read More →
About that business plan?…
Although business planning is a widely discussed and written about topic, I come across many businesses that don’t have a formal business plan that is reviewed, monitored and used as an effective management tool in the day to day running... Read More →