Non-bank finance
Getting access to adequate financing is often the biggest hurdle for entrepreneurs and existing business. A lack of finance constrains your operations and raises the risk of insolvency and other financial issues. As an entrepreneur or business owner seeking new financing, it’s time to expand your horizons and discover other exciting alternatives for financing your […]
Guide to a turnaround
Failure is the norm rather than the exception for businesses. The signs can be plain: the business isn’t expanding and you’re having trouble meeting financial obligations. Or the competition is getting intense in an oversaturated market. At this stage, acting quickly gives your business the best chance of recovering, avoiding mounting debt, and returning to profitability. There are […]
Launch of our video platform
We have recently been working through a range of education and information videos to support our partners or to give you some understanding of the issues that arise in the management of taxation or restructure issues. Understanding that some of the issues that arise are complicated and need further explanation, each video tries to cover […]
Limitations of Bankruptcy
What is bankruptcy? Bankruptcy is a legal process in which you are declared unable to pay your debts. Bankruptcy can impose many limitations on you and your business. Before you think the sky is going to fall in, read our posts on dealing with bankruptcy. The limitations of bankruptcy are: On your income Bankruptcy can […]
CGT Concessions and the Difficulties for Shares and Unit Trust Interests
When selling a business, it is always important to determine whether or not a seller can qualify for the small business CGT concessions. The potential benefit of this is to either exempt, reduce or defer the tax implications of a capital gain made on the sale. When examining the small business CGT provisions, there is […]
Cash v Accruals
Goods and Services Tax (“GST“) is calculated as the GST owed to the Australian Taxation Office (“ATO“) by the business (GST collected on sales made) less GST owed by the ATO to the business (GST paid on purchases made). The ATO gives small business owners the option of reporting GST on a cash basis if […]
Early access of superannuation
There are a few ways that you can access your superannuation prior to retirement, we cover most of these. Before exploring options to access your super, it is important to consider both the tax implications and whether you have the right to access your superannuation early. Super balance under $200 You can access your preserved […]
Basics of shareholder agreements
You are not legally required to have a shareholder’s agreement, but the chances of you encountering problems and disputes are very high if you don’t have one in place. Why do I need a shareholders agreement? A shareholder’s agreement is a binding contract that is negotiated by the shareholders of a company which controls their […]
Foreign Land Tax – Western Australia
Land Tax – Western Australia – Foreign Entities At this time there is no implemented surcharge after the proposal was defeated in parliament. Generally the land tax position in Western Australia is: Rates Aggregated Taxable Value of Land Rate of Land Tax Not Exceeding $0 $300,000 Nil $300,001 $420,000 Flat rate of $300 $420,000 […]
Foreign Land Tax – Northern Territory
At present the Northern Territory does not subject landowners to any form of land tax. This exemption extends to foreign individuals and corporate entities. Although, residents of the Northern Territory are obligated to pay Stamp Duty on the acquisition of a home, land or a business property. There appears to be a growing interest from […]