Finding safe harbour when business is rough
Australia’s economy is growing at a slower pace than many would like, with small businesses in some sectors doing it tough. Recognising the warning signs of potential insolvency is key to trading through difficult times.
Decoding real estate agent speak
First-home buyers (and even second- and third-home buyers) are often baffled by the jargon used by real estate industry professionals. This can result in expensive misunderstandings unless you take the time to learn the lingo.
Here are some frequently misunderstood terms and concepts you should familiarise yourself with before you begin searching for your dream home.
Tax and your website: What can you claim?
Most small businesses and independent contractors have a website these days. If you are planning to launch a new website or refreshing an existing one, it’s important to understand the tax implications. As with all things tax, it’s not always easy.
Is your dream retirement in reach?
Planning your dream retirement can be an exciting time. The chance to travel overseas or around Australia without having to rush back to work, time to pursue new hobbies, learn a language or spend time with the grandkids. The possibilities are endless, but what will it cost?
Keep your cash flowing
As we head into the Christmas holiday season you are most likely looking forward to some relaxing times ahead, but one thing that should not be taking a break is your cash flow.
Invariably there will be a blowout in your personal spending over the Christmas period on food, presents and holidays, while the normal household bills keep rolling in.
It’s much the same for businesses. It can be all too easy in the busy lead-up to Christmas to let chasing bad debts and invoicing clients take a back seat. But if you don’t act now, you may not see any cash until February. Meanwhile your regular bills will still be coming in and wages will also need to be paid.
So what can you do to make the holiday season financially stress free?
How to avoid unwanted ATO attention
Nobody wants to attract unwanted scrutiny from the ATO. Tax audits can be stressful and potentially costly.
Weighing up the cost of risk – insuring your business
Running your own business can be rewarding, but there is also risk involved when you put your own money and reputation on the line. What would you do if your shop was destroyed by fire, a client sued over advice you gave, or your business was disrupted for months in the aftermath of a freak […]
Bankruptcy: Not the end of tax considerations
With personal debt on the rise, many Australians are struggling with their finances. In most cases, a repayment plan can be worked out to get you back in the black. If that’s not feasible, another solution can be to declare bankruptcy, but this can have serious implications if you are running your own small business. […]
Millennials are FIRED up for financial freedom
Millennials are often accused of living for the present and wasting their money on smashed avocado. So it may come as a surprise that younger Australians are at the vanguard of a growing movement committed to the old-fashioned virtues of thrift and saving, but with a modern twist. Whereas the mantra of the Baby Boomers […]
Superannuation and inheritance: making your wishes known
People often think their superannuation will be treated as part of their estate when they die and distributed according to their Will, but that’s not the case. Unless you have nominated your beneficiaries, the decision as to who receives your super is in the hands of the trustees of your fund. When that happens, the […]