Before Restructuring
Every business goes through times where they experience much needed growth. This growth can be a positive push to potentially restructure their business. There are however many factors to consider before restructuring. Business owners need to think about why they are changing the structure of their business and what the aim is in restructuring. There […]
What the Election Means for Business
In my experience the next two months will be tough for small retailers and hospitality businesses as the uncertainty that the election process brings will make it harder to get customers to spend.
FAQ: Garnishee Notices
Received a garnishee notice? What does it mean? The ATO has an ability to collect money directly from your bank account or from your business’ debtors via a garnishee order. If you have reached this stage it generally means that most avenues have been exhausted for negotiation or settlement. For business owners this is often […]
Basics of insurance through super
Having the right insurance cover such as illness and accident cover within your super fund is very important as it provides a level of security for members of the fund along with their families. Choosing the right insurance cover can be arranged by the SMSF trustee/s. Generally, there are three types of insurance that are […]
GST Buying or Selling Real Estate
Whether a sale of property is subject to GST will be dependent on a number of factors. The sale of real property must be made in the course or furtherance of an enterprise before it is brought into the GST system. Summary of GST status for sale of real property.
10 ideas to help your business
If your business is struggling, you may not know the best way to fix the problem without some help. We’ve put together 10 ways that you may be able to use to turn your struggling business around. If you aren’t sure where to start, contact us and speak with the experts.
Safe Harbour for Directors
Australia’s prohibition on companies whilst insolvent (Corporations Act, s 588G) had often been the subject of criticism. Until recently Australia had one of the strictest insolvent trading prohibition in the developed world. Prohibiting companies from incurring debts whilst insolvent meant pushing them much earlier into formal insolvency proceedings. Until Now Under Australia’s insolvent trading prohibition, […]
Basics of tax residency
Being a ‘non-resident’ makes a difference for tax treatment One of the very first questions you are asked on your individual tax return is: “Are you an Australian resident?” It may seem an unusual or unnecessary question, but the Tax Office wants to get this one cleared up early as it makes a big difference […]
Untaxed income
Sometimes, there’s no tax on certain types of income It is possible to receive amounts that you do not need to tell the taxman about, and don’t have to include as income on your tax return. The ATO classifies these into two different categories (or three, if you count “other” as a category). Exempt income. […]
Properties to Avoid
There are so many different types of properties that selecting one can be very confusing. There are however some specific property types I suggest you avoid altogether as they are simply a bad choice or are very high risk investments. Australia’s biggest Banks also have concerns with the majority of the below property types and will restrict lending levels on them.
