Building a new home or buying existing

28 August 2024 No Comments

Whether you choose to build your dream home from scratch or find charm in an existing property, the key is to align your choice with your financial realities and life goals, ensuring that your new home becomes a foundation for many happy years ahead.

Ultimately, the choice between building and buying is personal and multifaceted, involving more than just immediate costs. It’s about considering the broader financial impact, your patience for the process, and what you envision for your home in the years to come.

Simple Tax Returns

27 August 2024 6 Comments

Filing a tax return can seem daunting, especially if you’re accustomed to the idea that only a professional can handle it. However, with the right information and tools, many individuals can successfully file their own tax returns, potentially saving money and gaining a better understanding of their financial situation. Here’s a breakdown of some simple tax return tips and reasons why you might be able to do it yourself, coming from a tax agent’s perspective.

Small business CGT concessions

23 August 2024 1 Comment

Incorporating the Small Business CGT Concessions into your business planning and succession strategies can lead to substantial financial benefits. It’s important to seek specialised advice to navigate the complexities of these concessions and ensure your business and personal financial goals are achieved in a tax-efficient manner.

Holding Life Insurance in Super

21 August 2024 1 Comment

Navigating the tax implications of life insurance within superannuation can be complex, but with the right knowledge and advice, it’s possible to leverage these arrangements effectively as part of your financial and estate planning strategy.

Tax On Superannuation

20 August 2024 1 Comment

Remember, superannuation laws and tax rates are subject to change, so it’s important to stay updated or consult with an accountant or financial advisor to make informed decisions about your superannuation strategy.

How do Banks Assess Creditworthiness?

14 August 2024 No Comments

This article aims to demystify the credit assessment process and highlight the importance of being prepared and informed when seeking credit. For specific advice and strategies tailored to your business’s circumstances, it’s advisable to consult with a professional accountant or financial advisor.

Basics of CGT

13 August 2024 3 Comments

This article, written from a tax agent’s perspective, provides an overview of Capital Gains Tax, including its definition, calculation methods, reporting requirements, exemptions, and strategic considerations. It aims to educate readers on the key aspects of CGT and emphasizes the importance of professional tax advice for accurate calculation and reporting.

Navigating Price Increases

12 August 2024 No Comments

This article, written from a business advisor’s perspective, provides a detailed approach to implementing price increases in a business. It covers assessing the need, calculating the new price, timing, communication strategies, gradual versus one-time increases, engaging with key customers, monitoring impact, adding value, and seeking professional advice. The focus is on strategic and customer-centric methods for adjusting prices to ensure business growth and customer retention.

Selling your business

9 August 2024 No Comments

This article, written from a business advisor’s perspective, outlines the steps involved in selling a business. It covers preparation, valuation, sales planning, marketing, screening buyers, negotiations, due diligence, finalising the sale, post-sale considerations, and the importance of professional advice. The aim is to provide a comprehensive guide for business owners considering selling their businesses, highlighting the importance of a structured approach and expert guidance throughout the process.

Who owns your business?

8 August 2024 1 Comment

This article, written from a tax agent’s perspective, provides an overview of various business structures (sole trader, partnership, company, trust) and ownership types. It covers the implications of each structure in terms of liability, tax obligations, and compliance requirements, and emphasizes the importance of professional advice in selecting the appropriate structure for a business. The aim is to help business owners understand the impact of their business structure on ownership, legal responsibilities, and taxation.