Moving office
The team has relocated to 110A Hoff Street Mt Gravatt and will be operating from here for the rest of 2020. The change has brought a further flexibility that we feel better aligns with the changing marketplace and hopefully will allow us to be more adaptable. We are retaining the offices in Geelong and Sydney, […]
Accountants, Are Your Clients Ready for EOFY?
The Lead up to a New Financial Year. For businesses across the country, End of Financial Year is the time to wrap up the year that was and plan for success over the next 12 months. The end of financial year means change – some good and some that can a bit more challenging. With […]
Superannuation Payments to Contractors
The Australian Taxation Office (ATO) is actively targeting employers who aren’t paying employees and certain contractors their full compulsory superannuation guarantee entitlements. If caught not complying, the employer (or its directors if it is a company) could be at risk of receiving a 12-month prison sentence for failing to comply with the relevant laws. Which […]
Self-Employment and Bankruptcy
Sole Proprietorship businesses (also known as “Sole Traders”) are the simplest and cheapest business structure to create in order to operate a business and that makes them a popular choice for business owners looking for flexibility in operations, management and exit. The Australian Bureau of Statistics (ABS) data shows that Sole Traders account for approximately […]
Three Measures to Consider During Times of Rapid Growth
In business, growth is often the goal. Generally, businesses experience slow growth in their formative years, allowing leaders to scale incrementally. But this is not always the case. Rapid growth can occur when a product or service hits the market and takes off unexpectedly. Business owners should consider this possibility in their business planning, to […]
Transferring Property Prior to Bankruptcy
Often, people with financial difficulties facing pressure from creditors will try to protect their property by transferring it to a spouse or family member to avoid the property forming part of the asset pool if the person later becomes bankrupt. The following options are available to bankruptcy trustees to recover property that was transferred by […]
Distinct Lack of COVID-19 Support for Sole Traders
Distinct Lack of COVID-19 Support for Sole Traders Grants to keep small businesses operating amid COVID-19 restrictions have been welcomed, but concerns remain about how the $17.6 billion stimulus package might help Australia’s 1.5 million sole traders. So far there has been a distinct lack of support available to sole traders, as most stimulus measures […]
The Power of the ATO During an Insolvency
Approximately 8,048 Australian companies experienced external administration (EXAD) in the 12 months ended March 2019. During the same period there were 27,058 new personal insolvencies, including 15,329 bankruptcies, 11,549 debt agreements and 180 personal insolvency agreements. In the year prior, the ATO was the initiator of 20% of all company liquidations and 4% of all […]
Putting Your Business into Hibernation
Putting Your Business into Hibernation New Federal Government Business Support Measures The government has announced further business support measures in the form of a $1500/fortnight wage subsidy, with the aim of keeping people employed in their current roles. Much of the government’s focus on business support has been on helping businesses to survive a period […]
Top 5 Reasons to Strengthen Strategic Business Partnerships
There are many reasons why businesses form strategic partnerships, and mutual advantages can be substantial when the right partnership synergy is achieved. 1. Enter new markets With Australia and New Zealand accounting for only two per cent of the world’s GDP, geographic expansion to new markets and customers can deliver lucrative results. With the right […]
