Accounting

Thinking of subdividing? The tax implications and pitfalls of small-scale subdivisions

Accounting, Investment / By

You’ve got a block of land that’s perfect for a subdivision. The details have all been worked out with Council, the builders, and the bank. But, one important aspect has been left out; the tax implications.   Many small-scale developers often assume that their tax exposure is minimal – but this is not always the […]

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Succession: What does it take to hand your business to the next generation?

Accounting, Business, Small Business / By

What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your business and maximising its capital value for you, the owners.   When it comes to generational succession of a family business, there are a few important aspects: Succession of

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What changed on 1 July 2023

Accounting, Announcements, Business, Finance, Investment, Small Business, Superannuation, Taxation / By

A summary of the important changes that came into effect on 1 July 2023.   Employers & business Superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee – the Temporary Skilled Migration Income Threshold – increased to $70,000

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The 120% technology and skills ‘boost’ deduction

Accounting, Business, Small Business / By

The 120% skills and training, and technology costs deduction for small and medium business have passed Parliament. We’ll show you how to take maximise your deductions.   Almost a year after the 2022-23 Federal Budget announcement, the 120% tax deduction for expenditure by small and medium businesses (SME) on technology, or skills and training for

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Selling a business? The pros and cons of earn-out clauses

Accounting, Business, Small Business / By

Earn-out clauses for the sale of a business are increasingly common. We look at the positives and negatives that every business owner should consider.   Business transactions often include earn-out clauses where the vendors ‘earn’ part of the purchase price based on the performance of the business post the transaction. Typically, an earn-out will run

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30 November Director ID deadline

Accounting, Announcements, Business, Small Business / By

The deadline for existing directors of Australian companies to obtain a Director Identification Number is 30 November 2022.   All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation (ATSI) will need a director ID. This includes directors of a corporate trustee of a self-managed super fund

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