Tag: Business Consulting

Tips for Family Business Succession Planning

Running a successful family business is no easy task. The statistics show that in Australia 70% of family businesses fail or sell before the second generation gets a chance to take over. Over 90% of family businesses sell or fail before the third generation gets to take over. Although these figures look dismal it is […]

How to Make Your Business More Successful In 2021

Businesses around the world are having a tough time with the covid-19 pandemic. Here are some tips to help your business find the solutions to some of your biggest problems. Get the perspective of someone from outside your business On top of working with your staff to discuss how you can make your business more […]

Marketing Tips to Grow Your Business In 2021

2020 was a difficult year for the majority of Australian businesses. Constant border closures, lockdowns and social distancing rules made it difficult for businesses to make a huge profit from their customers.    Here are some tips to help improve your marketing strategy in a way that will build more meaningful relationships with your customers […]

The Financial Impact Snap Lockdowns Are Having on Australian Businesses

The Professional Accounting Body has called for Australia’s federal, state and territory governments to work together to create a national response for businesses that are impacted by future snap lockdowns whenever a new outbreak of covid-19 occurs. Keeping Australian citizens safe during the pandemic should be the government’s top priority and the quick action taken […]

The Federal Government Expands the SME Loan Scheme

Small and medium-sized enterprises (SMEs) are now eligible to borrow up to $5 million dollars as part of the federal government’s decision to expand its loan scheme. The recently announced expansion will be included in the governments post-JobKeeper support package which aims to financially assist SMEs.   The SME recovery loan scheme will be an […]

The Federal Government’s SME Recovery Loan Scheme

In an effort to reduce the economic struggle caused by the covid-19 pandemic, the federal government has announced an extension of its small and medium-sized enterprise loan scheme. Following the conclusion of JobKeeper the government will continue to work with lenders to offer assistance to Australian businesses who are still in need of access to […]

New Partnership Profit Guidelines Introduced by the ATO

Three years after first commencing a review of how professional firms engage in income splitting the ATO has released its highly anticipated partnership profit guidelines. The new guidelines will be introduced on 1st July 2021. The ATO has published a drat copy of the guidelines under the name Practical Compliance Guideline 2021/22. This document explains […]

KPMG Warns the Federal Government to Delay Their Push Towards e-invoicing

KPMG has advised the government against rushing to implement a compulsory approach to e-invoicing. KPMG has cautioned that compliance costs and competing priorities will weigh significantly against businesses.   It is in the opinion of KPMG that the governments desire for mandating e-invoicing – beginning with large businesses has failed to consider the compliance burden […]