Business Valuation
You had an extra child…and you didn’t realise it…or perhaps you did. Your business, it’s been the joy and pain of your life for a number of years. You guided, fought for and watched it grow. And now the next chapter has arrived and you are looking to see how much it is worth. You […]
Personal Services Income
By Alisa Sainoski Personal Services Income (‘PSI’) is income which is mainly a reward for a person’s personal efforts or skills. The fact the income is payable under a contract does not stop the income being mainly a reward for personal efforts or skills. Income is classified as PSI when more than 50% of the […]
Phoenix Activity
I am extremely proud to admit we have never had a situation within the practice whereby phoenix activity has been considered by a client. Unfortunately though, in the broader community, and certain industries are more susceptible to it than others, it is certainly prevalent. A report issued by the Phoenix Task Force estimated the direct […]
Expansion
There comes a time in every business’ life where it it goes through a period of growth. Whether it be at the start of the business lifecycle, the middle or perhaps towards the “plateau”. Generally speaking, a cash surplus is required to help provide for the growth and expansion of the business. The problem especially […]
Contractors v Employees
By Alisa Sainoski What is the shifting line between a “contractor” and an “employee”? With the advancement in the digital economy the question is becoming trickier to answer. As more companies use consultants, contractors or freelancers on a project basis rather than to hire full time staff, the line seems to shift. The simple distinction […]
MarketWatch August ’19
By David Prattent MarketWatch tore his gaze away his favourite wine catalogue, think, so much red, so little time. But, more relevantly, he was thinking, yet another sale with more price reductions, why aren’t people buying and spending? After all, his dear wife, Mrs MarketWatch, has heard the clarion call and her efforts to save […]
Tax Consolidation and Small Business
Is Tax Consolidation for YOU? Tax consolidation. It has historically been viewed as a tax structuring mechanism really only applying to bigger businesses, but this view may be changing with the reduction in income tax rates for companies with a turnover of $50 million or less. What is tax consolidation? Broadly, it involves grouping […]
Tax Time 2019
By Alisa Sainoski Income Tax Threshold In the 2018 Federal Budget the coalition government announced the Personal Income Tax Plan, a seven-year plan of income tax cuts. The plan became law on 21 June 2018. The resident tax rates have been updated for the 2018/2019 income tax year. Tax Rates: https://www.ato.gov.au/Rates/Individual-income-tax-rates/ 5,000km claim for motor […]
Single Touch Payroll
By Alisa Sainoski Single Touch Payroll (‘STP’) Are you ready for the new way of reporting your employee’s superannuation and tax obligations? If not, it is time to think about how your business will report to the Australian Taxation Office (‘ATO’) when it comes to your payroll obligations. STP was introduced to Large Employers with […]
MarketWatch July ’19
By David Prattent What’s the fuss about? MarketWatch has returned from his sabbatical slightly older, definitely greyer and much, much heavier. Happily though, he has discovered even more good reds across WA and South Australia. But more of that in late months. What has pre-occupied his mind over the past twelve months is what on […]