The NSW government recently introduced a bill whereby all Discretionary Trusts may be deemed to be foreign trusts, regardless of whether they have any foreign connection or not. This has two significant consequences: If the trust purchases any residential property in NSW, it will pay an additional...
The holiday season is upon us! We all like a great party, but none of us want to pay Fringe Benefits Tax (FBT) if we don’t have to. So if you, as an employer, are having a work Christmas or year-end party, how can you enjoy the...
Our last tip looked at creating a simple Plan on a Page for your business. Planning often doesn't materialise into outcomes for a range of reasons including:- - The inability to find the time to act strategically - A lack of accountability - A lack of capability - Tenacity There...
In my last blog we looked at prioritising our key initiatives. Now it's time to consolidate your strategies into a plan. The Plan on a Page (PoaP) concept has been a round for a while and is routinely used by businesses at both corporate and small...
My last blog asked you to think about big picture ideas on how you intend growing your profits and mitigating risk. You looked at every aspect of your business; Financial (what makes shareholders satisfied), Marketing (what delights clients), Operations (effective processes) and People (skilled and motivated...
I was asked - what are the top few things that need to be focused on when growing and sustaining a business? You see, everyone wants quick and simple guidance - which is understandable given how difficult it is to have perspective when you are up...
Running a business has many benefits. It provides the opportunity to build something valuable by giving you the freedom to make your own choices and decisions. Of course the other side of the coin is that business is risky. You also give up a lot of protections and...
Did you know that small businesses in NSW are not required to pay stamp duty on certain types of insurances? This can help cut business costs! These insurances can include: Commercial vehicle insurance Occupational indemnity insurance (or professional indemnity) Product and public liability insurance Are you eligible? If...
Why do you own a business? It’s interesting to consider this because we are shocked at how many business owners haven’t taken the time to consider this fundamental question. From a big picture perspective, having a business provides you with a lifestyle. That’s it! It gives you cash now...
An extract from an article by Dr Shane Oliver - Head of Investment Strategy and Economics and Chief Economist, AMP Capital. One dollar invested in Australian cash in 1900 would today be worth $240 and if it had been invested in bonds it would be worth...
