The Australian Taxation Office has indicated that it intends to closely monitor self managed superannuation funds. It has issued a warning to trustees of SMSF against intentionally trying to beat the in house assets rule.  Revocations must be made in the taxpayer’s tax return for the...

Author: Bernard Baumohl
Published by Wharton School Each day, shares, bonds and currencies move around wildly in
response to a range of economic indicators like these. These
indicators are monitored obsessively by the world’s leading money managers. Why? Because...

What kind of cheque-writing controls should I have in place to prevent employees from misusing company funds?

What business structure is most appropriate for my circumstances - a company, trust, partnership or proprietorship? What are the relative advantages and disadvantages?

Is there any benefit in me taking security over my own company? How does that rank if things go bad and I need to wind up my company or worse, one of my creditors attempts to wind up my company?

Generally speaking, it’s simpler and less costly to prevent a problem than it is to solve one. Business owners in the spirit of exercising their entrepreneurship often act and enter into arrangements without considering the implications of their actions. A short telephone call or meeting...

Accountants essentially sell time. The less you use, the less it costs. The key to using less of their time is to organise yourself so that you make their job as easy as possible. That means preparing for meetings. Think through in advance what you want to ask, discuss and achieve. Have a list...

On Wednesday 24th June 2009 Ty Halse, a Property Analyst, will fly in from Sydney to present a session on why Australia's wealthiest are now pouring back into the property market. Please register immediately as we only have 12 places available for this session so that...

Training topics to be covered:

1. What are the 10 National Employment Standards
2. Changes to the state awards that will be effective across Australia
3. Unfair Dismissal
4. Good Faith Bargaining.

This seminar will be run by Michael Corrigan...

Tough Times Tip 1

During times when business is slower and unpredictable, it is essential to maintain a weekly cash flow forecast. Even some simple cash flow planning can prevent your business from disaster.
 

Many accountants offer free consultations at one time or another. Take advantage of them. You can usually get more out of these free consultations if, before the meeting, you give some thought to a specific issue. Consider sending a summary of your business situation; setting out some of the...

Before consulting accountants or other professionals it is worthwhile trying to get an overview of their expertise, what’s involved and how it might be able to help your business. An overview before the meeting will help you to set realistic goals and expectations for their involvement....

How many small business owners repair their own photocopier? Whilst it may be a relatively mechanical task that may be carried out with the use of a manual, why do so few businesses do it? The answer is generally that they recognise that somebody else can do it more efficiently, reliably and...

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