October 15, 2020 ‘Asset protection’ is a general term which encompasses a broad range of planning activities directed towards reducing risk exposure of business owners and other individuals – effectively, by seeking to limit a potential creditor’s ability to access assets or value. Creating the correct business structure is essential for asset protection Sole Traders and Partnership are […]
October 7, 2020 The Federal budget was announced on Tuesday 6th October after a delay due to the coronavirus pandemic. Treasurer Josh Frydenberg said it would focus heavily on job creation in order to pull the country out of the economic crisis it faces. With uncertainty remaining until a vaccine for Covid-19 is available, there will likely be […]
September 17, 2020 Are you a farming business that has been affected by drought? Does your business supply goods or services to farm businesses in an affected area? Do you sell products into supply chains that are interstate or outside Australia, or plan to in the future? If any of the above applies to you, you may be […]
September 16, 2020 It takes guts to start a business. It also takes a strategic mindset to succeed. Business owners are no strangers to weighing risk and navigating uncertainty, but the current climate has dialled everything up. Many business owners face the uncomfortable position of having to remap carefully thought-out succession plans and exit strategies and to consider […]
September 16, 2020 Buying an existing business can be a great way to get started as a business owner, or to expand operations if you are already running a business successfully. Established businesses have already done the hard work of setting up a business, so you can get up and running on day one without a lengthy formation […]
September 16, 2020 The small business Instant Asset Write Off was increased to $150,000 in March 2020 as part of the Governments COVID-19 response measure. Small businesses can now claim an instant write off for business assets purchased and installed ready for use by 31 December 2020, where the purchase price is below $150,000. However, one important item […]
September 3, 2020 Have you been wondering if there are any government grants available for your business? As a small to medium business, you might be eligible for a range of Australian and state government incentives to give you a leg up and accelerate your growth. We have teamed up with the experts from Axito Pty Ltd to […]
August 21, 2020 Making time to look over your financial reports each month is an important task for any business owner. If you are not taking the time to do this, either because you’re too busy, or perhaps you don’t really understand what you’re looking at and it doesn’t make sense to you, then here are 6 reasons […]
August 21, 2020 It’s vital for businesses to free up as much cash as possible, particularly in these tough economic times. Your ‘lock up days’ is the number of days it takes to convert your debtors, stock and work in progress into cash. A high number of lock up days means your business needs to have more cash […]
August 19, 2020 Paid a tradie? TPAR reporting is due the 28th of August. You need to lodge a TPAR if you pay contractors for building and construction services and: -you earn 𝟓𝟎% 𝐨𝐫 𝐦𝐨𝐫𝐞 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐢𝐧𝐜𝐨𝐦𝐞 from building and construction services, or -𝟓𝟎% 𝐨𝐫 𝐦𝐨𝐫𝐞 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐚𝐜𝐭𝐢𝐯𝐢𝐭𝐲 is from building and construction services. […]