Government delivers “election friendly” 2019/20 Federal Budget

A surplus election budget is the news coming out of the 2019-20 Federal Budget. With superannuation left largely untouched, the Government focused on further personal income tax cuts. However, three key announcements include providing more flexibility for individuals to contribute at ages 65 and 66, the ability to choose their preferred exempt income tax method and increased funding for electronic super rollovers are welcomed. This Federal Budget will provide much…  Read more

Budgetary Policy: It’s all part of the plan

In 2019, the first Tuesday in April is financial planning’s night of nights. (Usually, the big night comes in May, but this year it has been changed as a one-off). That is the night when the Federal Government hands down its proposed budget for the coming financial year and beyond. This year, we have a first-time federal treasurer handing down the budget. That said, much of the heavy lifting of…  Read more

5 key steps to an effective website for your business

89% of customers begin their purchase with an internet search. Your website should reflect your unique value and deliver an exceptional user experience. Never stop improving and optimising it for your audience. 89% of customers begin their purchase with an internet search. It’s never been more vital for your business to have an effective website. We’ve identified five key steps that will help you to build a site that’s effective,…  Read more

6 ways to measure the health of your business

Taking stock of the health of your business allows for more effective planning, early warning about issues, and the chance to better chart a course for success. We can help assess your business health, to set you on the right track. When you’re running a business, it’s easy to get caught up in the day-to-day activity and lose sight of the big picture. Taking stock of the health of your…  Read more

Don’t stress about your work/life balance

Don’t stress about your work life balance, it doesn’t mean what you think it means – a little stress can actually be good for you as long as you keep it in bounds.  Trying to get perfect the work/life balance can be a cause of stress in itself. If you are feeling the strain of building your business and maintaining your life the good news is that stress and a…  Read more

How to make your out-of-office message work harder

Heading on holiday? Don’t forget to set up your out-of-office message. And once you’ve included the essential information, think about including a link to your newsletter landing page, some humour or a link to a useful guide. It’s probably the last thing you do before you head out of the office to enjoy your holiday, but here’s why you should take some time to create your out-of-office message. There are…  Read more

Tips on holiday cashflow for your small business

Leading up to the holiday period, is your business cash flow in good health to carry you through? This time of year can be hard on small business. Make a plan early to ensure healthy cashflow over the holidays. Whether you’re heading into a holiday period, or just planning to take a break (and congratulations, because a healthy business means work-life balance), it’s important to keep your cashflow under control.…  Read more

More on the 2018 Budget & what it means for you…

The Federal Budget was handed down last Tuesday, May 8, 2018. While the measures announced in the budget are yet to be passed by Parliament, we can generally assume that most of the announcements will become reality. From an individual perspective – especially if you do not grow illegal tobacco or participate in the black economy – this year’s budget was actually a bit of a nonevent. For those clients…  Read more

How to create good habits in business

If you’re like most small business owners, there are never enough hours in the day to complete every task on your list. Often you’re faced with prioritizing what you need to do right now – deal with a customer, meet a deadline, attend an event – and the things you know you should do for the ongoing growth of your business. Scheduling time to attend to these business activities on…  Read more

How to turn your hobby into a business

Thinking about turning your passion into a paying gig? These steps will help you avoid some common mistakes as you set out to earn an income from your favorite pastime. Do you have what it takes? Unless you’ve run a business before, it’s easy to get carried away with the idea of how perfect it will be to get paid for doing what you love. Reality check: the stress of…  Read more

Business Matters – October 2017

When business is going well, many owners look to expand their business.  We take a look at the most important factors to consider to make sure your expansion is a success. Have you ever received negative feedback?  How did it make you feel?  In a perfect world, every customer your business works with will be pleased with how the transaction went but we know that this is not always the…  Read more

Your business should be your most important investment

This week, we want to talk to you about what may turn out to be the most significant investment you could ever make. It is your own business. You may be surprised to hear that most financial planners are actually prevented from advising clients about their own business. Their licencee (the person under whose authority they provide advice) will not let them do so. Licencees typically insist that the advice…  Read more

You and your business: time is your scarcest resource

Being self-employed requires an entirely different ‘mindset’ to being an employee. In our own experience, and in our observations of other business owners, a number of particular attitudes need to change if we are to succeed at – and enjoy! – running our own business. The main change in attitude is to ‘let go’ of the relationship between time and reward. If you are an employee, you make a basic…  Read more

Business Matters – July 2017

Our newsletter topics: Passing on the family business Simpler BAS from 1 July Improve your internal communications Checklist for new workers Changes to workplace laws Secrets to hiring the right team Essential qualities to successful business owners   Read more  Read more

Understanding unfair dismissal

The number of unfair dismissal applications lodged last year suggests that employers are still struggling with unfair dismissal laws.  Around 14,800 unfair dismissal claims were filed in 2015 and while most cases were settled before a formal hearing, they do create an unproductive distraction for employers. Australia’s unfair dismissal jurisdiction does not cover all workers; employees that earn over $133,000 per year cannot access unfair dismissal laws unless they are…  Read more

Revisiting super basics for employers

for may employers, it can be easy to forget the responsibility of managing your superannuation obligations amidst the busy lifestyle of operating a business. However, those who fail to meet their superannuation obligations risk facing severe and even damaging liabilities. Employees who pay their workers $450 or more before tax in a calendar month must pay superannuation on top of the employee’s wages.  If any employee is under the age…  Read more

Is there GST payable on sale of my property?

When selling a property registered for GST, the margin scheme can be used as an alternative way to work out the GST payable on a concessional basis. Where the scheme is applied, GST is paid for one-eleventh of the sale price.  The margin scheme calculates GST on the increase in value since 1 July 2000 if the property was acquired before 1 July 2000; or the difference between the purchase…  Read more

Getting your BAS right

Some small businesses make simple mistakes; others just don’t provide the right information.  Make sure your business is not caught out by completing your Business Activity Statement correctly. Here are five easy lodgment tips to help businesses save time and get their business activity statement right the first time round; Lodge all your outstanding activity statements.  The tax office cannot process refunds until all of a business’s lodgments are up…  Read more

Succession Planning

  It is inevitable that a business owner will eventually leave their business.  Whether they sell, retire or leave due to health reasons, it is important to be prepared for when that day eventually arrives. Creating a succession plan is a simple and common sense approach to ensure continuity in a family business.  Succession plans enable smooth transitions and decrease the likelihood of disruptions.  Early succession planning can maximise a…  Read more

Seven ways to tell if your business idea will succeed

We find that there are seven common themes that arise when assessing whether a business idea will succeed. 1.  Your idea has a strong point of difference To survive in business, you need a compelling point of difference.  If your idea is not novel, then what makes you different.  The stronger this difference is, the stronger your competitive advantage will be. 2.  People say “WOW” (and want it) An instant…  Read more

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