What to do when your supply chain faces disruption

 

 

As governments and health care agencies work to stop the spread of Covid-19 and to treat those who are infected, manufacturers in more than a dozen industries are struggling to manage the growing impact on their supply chains. 

If your company relies on suppliers in various geographic locations, it’s likely that at some point your business will face a supply chain disruption. Whether that...

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Advisor liability risk from super death benefit nominations

 

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Economic Stimulus of $17.6b announced

#coronavirus #coronaviruseconomicstimulus #sme #taxbenefits

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Why hiring a bookkeeper is a great investment

As a small business owner, you’re likely concerned about every penny you spend. That’s a good thing, because you need to keep track of your income and expenses. It also means, however, that you might be less likely to hire people who can help your business. People like bookkeepers, who are great investments for any small business.

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How do I sell my business and pay no capital gains tax (CGT) on the proceeds?

You may be eligible for one or more of the CGT discounts and exemptions below when selling your business. With appropriate planning, in many cases you can use these concessions to reduce your CGT liability on a business sale to nil.

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Accounting Tips For Start Ups

Businesses become a success because it is something you love and therefore work hard at it. It does no necessarily mean you love balancing the financials. However, accounting is crucially important to your success when first starting up.

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Separating personal and business expenses

There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be greatly simplified once you separate your personal and your business finances, especially your...

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When is a Superannuation “Death Benefit” not a Death Benefit?

The question in the headline is of major significance in estate planning. As readers are aware, the taxable component of a death benefit paid to a person who is not the deceased’s death benefits dependant, as defined in the ITAA 97 (an “ITAA Dependant”) is subject to tax at up to 17%, including the Medicare levy. In contrast, a member benefit is non-assessable, non-exempt income when paid to...

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Challenging a Superannuation Death Benefits Payout

by Stephen Gethin | Feb 03, 2020

Everyone is familiar with the potential to challenge a will if they feel they were unfairly left out. With many people now dying with large balances in superannuation, the number of court challenges to death benefit payouts will increase dramatically in coming years. Actions for negligence against advisors for leaving open the potential for these challenges will also markedly increase.

It is...

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Leasing new business premises? DON’T sign that Offer to Lease…

by Stephen Gethin | Jan 27, 2020 | Blog, Lease, Business

When selecting new leased premises, tenants must be careful of two critical issues in the ‘Offer to Lease’ (OTL). The commercial rental market is now very tenant-favoured in many areas of Perth. Many tenants think they have done a great job by beating the landlord down on rent and negotiating a large fit-out contribution or a long rent-free period. Feeling satisfied with themselves, they then...

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