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Insights

19.05.2022

Investment Properties - Tips to Maximise Your Investment and Minimise Your Tax

Australians have had a long established love affair with owning and around 20% of us have an investment property as part of our financial assets. There a number of things you should consider to ensure you maximise your investment and minimise your tax. Read More

22.04.2022

Tax Planning - Failing to plan is planning to pay tax!

Nobody wants to pay more tax than they need to- so why would you not plan ahead to ensure you are legitimately minimising the amount that ends up in the ATO’s pocket. Read More

20.04.2022

Insights - FAQ's - How is my Business Valued? Valuation Methodology of Small - Medium Business.

A question was recently asked - How do you arrive at a value for a business?  The answer is there is no one size fits all approach to business valuation. For small to medium business valuations we need to consider what is being valued, the concept of value and determine the best methodology for the valuation that is required. This blog discusses these questions in more detail. Read More

30.03.2022

Insights - The Federal Budget 2022-2023

The 2022- 2023 Federal Budget was announced last night with a focus on cost living measures and cutting red tape. There was also some incentives in relation to employing and training as well as a push to digitization. Read More

23.03.2022

Insights - Dare to Lead: Notes from the book

Brene Brown's book is a fantastic lesson in leadership; from embracing vulnerability and wholeheartedness and tips for rumbling, empathy and our true values. Read More

01.03.2022

Insights - ATO Attacks Trust Distributions to Family Members

The ATO's recent release of draft ruling TR 2022/D1 Section 100A reimbursement arrangement, PCG 2022/D1 and TA 2022/1 is a significant development in the taxation of trusts, being considered by many as an attack against distribution practices that have been commonplace for many years. Read More

26.02.2022

Insights - FAQ's - What structure should I use for my new business?

One of the most common questions we are asked by people starting out in business is “What structure should I use?” The truth is that there is no one size fits all and the best structure for YOUR BUSINESS will depend on YOUR BUSINESS. Your ideal structure might actually be a combination of entities that work together to give you the best outcome. We discuss the combination of factors that must be considered before chosing the optimal business structure. Read More

13.02.2022

Insights - Atomic Habits: Notes from the book

Key takeaways from the book Atomic Habits by James Clear - a collection of research, theories and examples about the science of habit formation, behaviour change and continuous improvement.  It includes examples of the small changes made as part of his recovery from significant injury and from sporting teams and businesses that have used these theories in their own success stories. Read More

31.01.2022

Insights - Additional NSW COVID 19 Support for Business

The NSW Government has released some much needed additional support for businesses hit by the Omicron variant and associate public health orders. -Small Business Support Program -Extension of Small Business Fees, Charges and RAT Rebate -Commercial Landlord Hardship Grant Read More

19.01.2022

Insights - Don’t PSI off the ATO! What you need to know about personal services income (PSI) so you don't get caught out by the ATO.

The Personal Services Income (PSI) provision catches out a lot of well-intentioned Aussies trying to reduce their tax payable by splitting their income. Getting PSI wrong can have disastrous financial outcomes so understanding your position is crucial. Read More

22.12.2021

Insights - New Guidance for Profit Allocation in Professional Services Firms

The ATO has released draft guideline PCG 2021/D2 which impacts on the way professional practitioners are able to allocate their profits.  This means that accountants, architects, engineers, financial advisors, lawyers and medical professionals may need to adjust their remuneration arrangements to meet the new requirements. Read More

06.12.2021

Insights - STP Phase 2 starting 1 January 2022

STP Phase 2 is due to start from 1 January focusing on streamlining reporting obligations with other government agencies which previously have been reported manually. Check to see you your provider has a deferral or if the changes will apply for you from January. Read More

24.11.2021

Insights - Don’t let the ATO Grinch ruin your Christmas.

Although Christmas is a time for celebrations, as a business owner there are a number of things we need to remember to ensure the festive season is fun but also that you don’t end up with a post Christmas financial hangover. Read More

02.11.2021

Insights - Tourism & Hospitality Sector Hardship Grant

Tourism and hospitality has been hardest hit by border closures, lockdowns and other travel restrictions and many businesses continue to fact significant hardship. The Tourism and Hospitality Sector Hardship Grant aims to provide relief and help maintain employment and fund expenses. Read More

15.10.2021

Insights - Super Stapling starts 1 November 2021.

Changes to requirements for employer super come into effect from 1 November. Are you ready? Read More