FBT and Christmas
With the 2017/18 festive season fast approaching, it is worthwhile having a refresher of the Fringe Benefits Tax (“FBT”) implications associated with celebrations and gifts. The provision of a Christmas party for employees will be subject to FBT (at a rate of 47% on the grossed-up taxable value) unless the Christmas party represents an ‘exempt […]
Tips for staff Christmas Parties
With the silly season rolling around again, the annual warning about what is acceptable and unacceptable is out. Each year companies have these talks and yet each year there is a horror story. We are in the camp that always recommends parties take place offsite and licensed so that someone else is responsible for the […]
Exemptions for Work Christmas Parties
It’s not quite Christmas time yet, but most businesses will be in the process of thinking ahead to the yuletide festivities, if not already into well-advanced planning. One of the perennial questions is if and how fringe benefits tax applies to these activities. There is no separate fringe benefits tax (FBT) category for Christmas parties […]
Managing carried forward losses
You operate a company Your accountant set you up in a company and in recent years things have been pretty tough business wise so much so that the company has incurred significant losses. Your business partner who feels the business cannot afford 2 owners and who owns the other 50%, has asked you to buy them […]
Business succession planning
You’ve run your own business successfully and now it’s time for you to leave. What now? According to Forbes, succession planning has been defined as the number one responsibility of board members, however only 14% of directors had a detailed succession plan in place. A succession plan outlines who will take over your business when […]
Succession planning for business
For many business owners, the objective is to pass a profitable and successful business through to the next generation, but this is not something that simply happens and the planning you undertake for a business sale should be similar to transferring a business within the family group. If you are a business owner, you may […]
Cross Collaterisation
Do you have cross collaterised assets or do you know what it means? Cross collateralisation is where your lender has taken security over more assets than those that you have financed, this may be a taking security over your home for a business loan, or taking security over your entire business for a vehicle loan. […]
Experience counts, unless it doesn’t
The development of your business calls into your own experience together with those around you. The more experienced the advisor, the better, right? We recently assisted a family group where the professional advisory team had been in place for over 40 years, they had grown up together as a business colleagues and things started to […]
Outsider in your business
You’ve been in business for years and people identify it with you, but are you an outsider in your business. We assisted a friend who had been stepping away from his business for a number of years, focusing on other businesses and putting a large amount of control in his operations manager. Being an outsider […]
Case study: Cost of acquiring a client
The business was an online jewellery retailer, with a strong business brand and a high margin business but it was struggling to make money. As we pulled through the financial statements, it became clear that the cost of acquisition for a customer (marketing, promotion, referral commissions, brand ambassador and marketing production) was substantially greater than […]
