From a health and economy perspective, 2020 has been a shocker. For some business owners the disruption has been stressful and expensive, while for others business has boomed. If only we’d had 2020 vision, but as the saying goes, clarity is in hindsight. Here we look back at the year that was and the lessons…
On 21 July 2020, the Government announced that the JobKeeper Payment (‘JKP’) would be extended by a further six months to 28 March 2021 on a scaled-back basis, with businesses being required to re- assess their eligibility to remain in the scheme (which received Royal Assent on 3 September 2020).
For many business owners, selling their business is a once in a lifetime experience. With no prior knowledge to draw on and significant amounts of money at stake, you’ll need to lean on your team for support and professional advisors to get it right. In this, the final article in our sale-ready business series, we…
Key matters to consider Creating a sale-ready business takes time. Time to implement the improvements you’ve identified to present your business at its best and time to complete the tasks which are additional to your day-to-day operating commitments. With limited hours in your day, you’ll also need to assign a support team to help.
Put your feet in your buyer’s shoes While healthy financials will attract a potential buyer’s attention, it will take more than that to convince them the business is right for them. You’ll need to prove the business can operate successfully, and profitably, once you’ve gone. Putting your feet in a potential buyer’s shoes will help…
Within days of the Jobkeeper 2.0 announcement, adjustments to expand the eligibility criteria for JKP have been made. Now referred to as ‘JobKeeper 3.0’, these changes are primarily in the wake of the tougher COVID-19 restrictions recently imposed in Victoria.
UPDATE: Within days of the Jobkeeper 2.0 announcement, adjustments to expand the eligibility criteria for Jobkeeper payments have been made. Now referred to as JobKeeper 3.0, the changes are primarily in the wake of the tougher COVID-19 restrictions recently imposed in Victoria. Please click the button below to download our overview of Jobkeeper 2.0 +…
In our experience, how you feel about your business can impact strongly on how you prepare for its sale and whether you achieve a fair price or not. If you’re keen to retire or perhaps feeling burnt-out, then impatience and the desire to be rid of the business could result in the sort of under…
Advance tax planning goes beyond reducing your tax obligations – it also creates important opportunities for boosting your retirement savings.
Knowing your tax obligation in advance goes a long way in solving lumpy cashflow or worse, a cashflow crisis that can occur when it comes time to pay your tax bill. This is particularly relevant this year as the COVID-19 situation has created unexpected changes to personal and business income, tax and cashflow.