From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation.
Is ‘downsizing’ worth it?
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Full throttle in 2023
In a volatile market, keeping to a strategy, or let’s face it creating one, can be tough.
How good is ChatGPT at tax?
Not being paranoid or anything but we were curious about the skills of the latest innovation to take the world by storm, ChatGPT, and its ability to work with the Australian tax system.
Bad Debt – What Is It and How to Avoid It
Understanding and incurring bad debt is part of doing business… because there is ALWAYS a risk that payments won’t be collected, especially for businesses that extend credit to customers.
Automating your Business: 11 Focus Areas
Automating business processes through technology is not especially new… but the range of options continues to grow. As a result, more businesses are investing in automation tools to increase efficiency and profit. In this article, we look at some business areas where the benefits of automation are well-established.
Avoiding the FBT Christmas Grinch!
It’s that time of year again – what to do for the Christmas party for the team, customers, gifts of appreciation, etc. Here are our top tips for a generous and tax effective Christmas season.
What do the ‘Secure Jobs, Better Pay’ reforms mean?
The Government’s ‘Secure Jobs, Better Pay’ legislation passed Parliament on 2 December 2022. We explore the issues.
Missed the director ID deadline? Now what?
If you missed the 30 November 2022 deadline for obtaining a Director ID, the Australian Business Registry Services have stated that they will not take action against directors that apply for their ID by 14 December 2022.
Successful Delegation to Drive Business Performance
In many businesses, a major cost is people… and leaders should ensure they are getting the best return on this investment. DELEGATION – when done well – can create efficiency in an organisation leading to growth and profit.
In this article, we look at 8 ways to delegate effectively. This month’s video presents 6 ideas on managing in an inflationary environment.
Australian super funds gorge of cryptocurrency
The value of cryptocurrency assets inside Australian self managed superannuation funds (SMSFs) increased by 589.9% ($1.17bn) between June 2019 and June 2022, according to the latest ATO statistics.
To cut or not to cut? Stage three personal tax cuts
Stage three of the Personal Income Tax Plan is legislated to take effect from 1 July 2024.
How high will interest rates go?
Low interest rates have been a mainstay since the global financial crisis of 2008. When the pandemic hit, Governments pushed stimulus measures through the economy and central banks reduced interest rates even further.
Can you prevent a hack?
Can any business claim that customer data will be protected from hackers?
Scams and how to avoid them
The ACCC’s Targeting Scams report states that in 2021, nearly $1.8bn in losses were reported but the real figure is likely to be well over $2bn.
Lessons from a data breach
A data breach happens when personal information is accessed or disclosed without authorisation or is lost.
ATO contacts ‘at risk’ professional services firms
New guidelines for professional services firms – lawyers, architects, medical practitioners etc., came into effect on 1 July 2022.
Reengineering Your Business – For Profit and Sustainability
Business Reengineering usually means eliminating activities or processes which are not adding value. In some cases, they will be substituted with better processes. This is challenging because changing the way a business acts and thinks is complex.
States move on property-based taxes
The Queensland Government has backed away from an amendment that would have seen the land tax rate for investment property in Queensland assessed on the value of the investor’s Australia wide land holdings from 1 July 2023, not just the value of their Queensland property.