New Payments Platform
Having recently attended a technology showcase for accountants I learnt of a new payments platform (NPP) that they are expecting to roll out in the early part of 2018. The NPP will allow for the transfer from bank account to another account in real-time, rather than waiting for the funds to be cleared over a […] Read More
Top 10 tips to help rental property owners avoid common tax mistakes
The following are the ten common mistakes that the ATO have identified with rental property claims: 1. Keeping the right records You must have evidence of your income and expenses so you can claim everything you are entitled to. Capital gains tax may apply when you sell your rental property. So keep records over the […] Read More
How to lose customers to save very little!
Recently I came across an article published by mybusiness magazine that I thought was very relevant in today’s cashless society. This was reinforced by an experience that I had not that soon after. The following is a summary of that article. Businesses are being urged to weigh up the costs of credit card surcharges, as […] Read More
8 Money Ideas for the Early Years!
As we approach the festive season, financial discipline (along with dietary discipline) tend to fall by the wayside and New Year’s resolutions about getting yourself into shape are usually the result. Here are 8 simple ideas to guarantee your long-term financial fitness. 1. Ditch some or all of your credit cards As of September 2017 […] Read More
Business lessons from the movie “The Founder”
Like many people I don’t mind the movies, now days with a young family this often means Friday or Saturday night catching up on watching a DVD or now days by renting via the internet. A movie I had been meaning to watch for a while was The Founder. This is the story of Ray […] Read More
Thinking of Selling Your Business? 10 Things You Should Not Do!
While every business sale transaction is different, after being involved in many business sales and purchases, I have noticed a few common pitfalls and traps for the owner/seller. Whether your exit is imminent or 10+ years from now, here are a few to watch out for on your path forward, a list of what not […] Read More
Having recently read an article on Sacred Cows I thought it worthwhile sharing. The article began with a story about a US Army General watching his UK equivalent arrange the firing of a large cannon. The US General noticed the British used one extra soldier in this process. When questioned, the British General responded that […] Read More
Elder Abuse – Can you Recognise the Signs?
The Elder Abuse Prevention Centre, based in Queensland, defines elder financial abuse (EFA) as the illegal or improper use of a person’s finances or property by another person with whom they have a relationship implying trust. This is the most common type of elder abuse, with studies in Australia indicating that up to five per […] Read More
Going broke – some statistics and some reasons…
The following draws upon an article from Worrells, (a firm devoted to dealing with insolvencies both before and after the event) and personal experience. Are economic conditions to blame? The September quarter of Australian Financial Security Authority (AFSA) personal insolvency statistics are out, and the trends of 2017 continue. Total personal insolvencies are up by […] Read More
Time to get your head in the cloud
What an interesting and fast moving time we are currently living in. Technology is very quickly evolving and providing us opportunities that just a few years ago we could only dream of. Just today when I met with a client who is a sole trader in a trade-related business we looked at three great opportunities. […] Read More