TheAccountants

Category: Accounting

A Business Advisor’s Guide to Strategic Planning

This article, written from a business advisor’s perspective, outlines the concept of SWOT analysis and its importance in business strategy. It covers each component of SWOT (Strengths, Weaknesses, Opportunities, Threats), why it’s critical for informed decision-making and strategic planning, and tips on conducting and leveraging SWOT analysis for strategic action. The focus is on using SWOT analysis as a tool for gaining comprehensive insights into the business and shaping effective strategies.

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Using the Ten Hats in Business

This article, written from an accountant’s perspective, explores the various roles or ‘hats’ a business owner often wears, including visionary, financial steward, marketing guru, sales leader, operations manager, HR manager, customer service champion, and compliance officer. It emphasizes the challenges of managing these multiple responsibilities and the importance of time management, delegation, and seeking professional support. The aim is to provide a comprehensive view of the multifaceted nature of running a business.

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Tax on Water Rights

This article, intended for businesses dealing with water rights and written from an accountant’s perspective, outlines the tax implications of water rights in Australia. It covers capital gains tax, income tax considerations, GST implications, accounting practices for water rights, specific considerations for primary production, and the importance of seeking professional advice. The focus is on providing an understanding of how water rights are treated for tax purposes, emphasising the need for expert guidance in this specialised area.

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How do franking credits work?

This article, written from a tax agent’s perspective, provides an overview of franking credits in Australia. It covers the definition, mechanics, claiming process, implications for investors, and the importance of professional advice. The focus is on helping taxpayers understand how franking credits can impact their investment returns and tax liabilities.

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Why getting a tax refund is not a good thing!

This article, written from a tax agent’s perspective, explains why receiving a tax refund is not always a positive outcome. It covers the implications of overpayment, opportunity cost, cash flow, financial planning, economic changes, effective money utilisation, and the importance of professional advice. The focus is on educating taxpayers about the potential downsides of large refunds and encouraging more strategic tax and financial planning.

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Non financial rewards in the workplace

This article, tailored for employers and written from an accountant’s perspective, explores the concept of non-cash staff benefits. It covers the types of benefits, tax implications, benefits to employers, implementation strategies, and the importance of professional advice. The focus is on how non-cash benefits can enhance employee morale and productivity, while also highlighting the need for careful consideration of the associated tax and reporting requirements.

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Exploring Short-Term Funding Options for Your Business

This article, written from an accountant’s perspective, provides an overview of various short-term funding options available for businesses in Australia. It covers overdraft facilities, short-term business loans, invoice financing, trade credit, credit cards, merchant cash advances, P2P lending, and government grants. The focus is on helping business owners understand and assess these options to effectively manage short-term financial needs.

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September Deadlines

This article, written for Australian taxpayers from a tax agent’s perspective, outlines the key tax deadlines in September, including BAS, superannuation guarantee contributions, PAYG installments, company and trust tax returns, and individual tax returns. It emphasizes the importance of awareness, timely action, review of tax positions, and the benefits of professional advice to maintain compliance and avoid penalties.

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What is a Company Structure?

This article, intended for individuals and business owners in Australia and written from an accountant’s perspective, outlines the key aspects of how a company operates in the Australian context. It covers company formation, governance, tax obligations, financial management, employee management, risk management, operational activities, CSR, and the importance of professional advice. The focus is on providing a comprehensive understanding of the responsibilities and processes involved in running a company in Australia.

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What’s in your tax return?

This article, tailored for taxpayers and written from a tax agent’s perspective, provides an overview of the key sections of a tax return, including personal information, income, deductions, tax offsets, Medicare Levy, and the calculation of tax payable or refund. It emphasizes the importance of understanding each component, accuracy in reporting, and the value of professional guidance. The aim is to help taxpayers better comprehend their tax returns and the impact of their financial activities on their tax obligations.

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