As a business owner, there are plenty of things you need to manage, and two of the most important of these are assets and risks. In other words, building your wealth and protecting your wealth. There’s no point building a lot of wealth if the way you have things structured behind the scenes means that […]
by David Buchanan, Director The delivery of advice for superannuation and SMSF changed on 1 July 2016 when specific amendments to the FOFA (Future of Financial Advice) legislation came into effect. Prior to this time, accountants were permitted to provide advice in relation to superannuation matters under the ‘accountants exemption’, but now only financial professionals with […]
Whoever said, “You can never have too much insurance” obviously never had to pay the premiums. Still, there’s no denying the fact you need it to protect your business and its assets. So you probably have building and contents, public liability and public indemnity insurance. But what else should you get cover for? What […]
They say only two things are certain in life: death and taxes. For a lot of people, there’s also a third certainty in life: the pain of keeping track of every receipt when it’s time to do the taxes. How many times has your bookkeeper or finance manager asked you for a receipt (that you […]
If you are currently paying business expenses on your personal credit card and collecting points then read on…….. There is a commonly held misconception that there are no tax implications for frequent flyer points [points]. This belief stems from twenty year old case law where the court determined that the points were earned from a […]
There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.” As you know only too well, you don’t pay rent, meet payroll or pay your bills with profit. You pay them with cash. A business can make a lot of sales, have a book […]
Those team rewards and benefits could cost you more than you think…… Everyone loves a freebie or some type of work perk and they are a great way to reward the team for a job well done, however it is important to remember that some perks are subject to Fringe Benefits Tax. The ATO defines […]
In this our 30th year we want to say thank you, to our valued clients, the core purpose of our business our supplier partners who help us keep the lights on our team, without who we wouldn’t be the business we are today Our special congratulations are extended to our founder David Leddy, for this […]
Think back to the days before you started your business, when you were working for a boss. Chances are you were rewarded for your hard work with a regular salary. It may not have always been the same amount, but it came through like clockwork. And for the next week, month or however often […]
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“You need to work on your business, not just in your business.” Made popular by The E-Myth Revisited author Michael Gerber, it’s advice I’m sure you’ve heard dozens of times over the years (I certainly have). But despite being told over and over again, many small business owners still don’t seem to truly understand what […]