There comes a time in every business lifecycle when succession comes more sharply into focus. Whether you’re planning on selling, passing the business on to a family member or winding up, succession planning takes time. While every business is different, there are five fundamental steps that we as accountants and business advisors discuss with our…
The idea of being singled out for a tax audit or an ATO review is never a pleasant one, but nevertheless it should always be regarded a possibility. Through our Audit Shield service, all our clients have the option to be covered by our tax audit insurance policy, which offers financial protection against the unexpected…
Personal asset protection is usually a high priority for new businesses, and it should remain that way throughout the business’ life. However, as a business matures and circumstances change, it’s not uncommon for business owners to find their personal assets at risk. In this article, we highlight the obvious and not so obvious threats to…
During the disruption of the last two years, many business owners have avoided increasing prices. Even now, as costs go up all over the place, many remain hesitant or simply haven’t yet had a chance to review their pricing. No matter what line of business you’re in, raising prices at some stage is inevitable. Here,…
With the tax planning season well and truly upon us, now is the time to consider superannuation strategies. Despite the often-confusing nature of legislation changes, super remains one of the most tax effective structures available to Australian business owners. With that in mind, here are the key super matters to consider as we approach 30…
As the dust settles from last week’s budget announcements, smart business owners will be looking at tax planning opportunities for the upcoming end of financial year. Scheduling in a tax planning catch-up well in advance of June 30 will provide the time necessary for implementing any actions that can make the most of business and…