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:
For generational succession to succeed, even if that succession is the sale of the business and the management of the sale proceeds for the
benefit of the family, communication is essential. Where generational succession fails, it is often because succession has not been
formalised until a catalyst event or retirement planning requires it.
Generational succession comes with its own set of issues that need to be dealt with:
Successfully managing generational change is a process we can help you navigate. Talk to us about how we can help to structure an effective transition path.
Darren and Jenny have one child and are planning for his secondary education at a Melbourne private school. Utilising education bonds, they aim to ensure they have sufficient funds to cover all tuition fees and associated costs throughout his education.
As Australia's highest marginal tax bracket impacts more individuals, a growing number of Australians face rising tax obligations due to "bracket creep," where wage growth outpaces tax rate adjustments. This trend is expected to persist, with tax-efficient strategies the backbone for financial advice to help individuals secure long-term wealth.
Car loan refinancing involves replacing your existing car loan with a new one. The new loan pays off your existing debt, allowing you to start making payments on the refinanced car loan.
Lenders often view job stability and income consistency as key factors in their loan approval process, which can make it tricky if you're settling into a new role.
Making an offer on a property for the first time is both exciting and nerve-racking. It’s important to take several steps to ensure you’re making a well-informed decision
The presidential election in the US on 5 November could dominate headlines during October, before the next meeting of the Federal Reserve later that same week. Investors are already debating whether a further reduction in borrowing costs in the US could be announced following this meeting.
Melbourne's housing market has experienced a significant shift in recent years, with its median dwelling value now ranking sixth-lowest among Australia's capital cities.
Refinancing your home loan can be a great way to save money, but it’s important to avoid common pitfalls.
Spring is a popular time to sell homes, with warmer weather and blooming gardens creating an inviting atmosphere that brings out the best of any property.
Discover 9 essential financial planning tips to help new and expecting parents manage the costs of parenthood with confidence and ease.
Cash flow is the lifeblood of any business and when payments are delayed, it creates an immediate strain.
Small business loans are often misunderstood. These misconceptions can prevent owners from taking advantage of valuable opportunities to grow their businesses.
Australia's CBD retail markets are showing signs of recovery post-pandemic with luxury brands leading the charge.
There are still excellent opportunities for commercial investors in retail and industrial sectors thanks to the current property cycle.
The Australian business landscape is expanding, signalling a potentially strong future for commercial property markets.
The global economy is being shaped by conflicting triggers. These include productivity-boosting technology innovations, geopolitical tensions and the strident efforts of central banks to bring inflation under control. We examine the economic outlook and discuss the implications for your retirement savings.
In this episode of The Accountant That Builds, host Shannon Smit discusses the massive wealth transfer expected from Baby Boomers to the next generation, estimated at $84 trillion. Shannon highlights the opportunities and challenges of this transfer, focusing on estate planning, tax liabilities
Over the coming years, we’re about to witness the largest wealth transfer in history as Baby Boomers pass their hard-earned fortunes to younger generations. With an estimated $84 trillion set to be transferred, mostly from savings, investments, and real estate, this shift holds both incredible opportunities and significant challenges for families.
The Taxable Payments Annual Report (TPAR) is a mandatory report for Australian businesses in certain industries to disclose contractor payments to the ATO by August 28 each year, ensuring accurate tax reporting.
Changes to aged care fees are coming, and they will impact both home care and residential care. After a long wait and lots of speculation, the government has released details of the proposed changes.
Our aged-care financial advice case studies showcase real scenarios where our clients saved thousands by leveraging strategies regarding the family home, negotiating RADs and optimising care facility choices.
WEBINAR 11 SEPT // 12PM
In the third session, we'll delve into superannuation guarantee changes, including proposed changes to payday superannuation, new rates and
bases, and the impact on SG liability. Gain insights into employer deductions, termination of employment considerations and more.
WEBINAR 4 SEPT // 12PM
Master allowances and reimbursements, understand their PAYG and super guarantee implications, and learn to navigate travel vs.
living-away-from-home allowances. Gain insights into FBT considerations, new ATO record-keeping requirements, and effective salary packaging
arrangements.
Understanding the factors that influence your interest rate can help you secure a better deal.
Starting July 1st, 2024, non-profit organisations (NFPs) in Australia with an ABN, but not recognised as charitable, must annually submit a NFP self-review return to the ATO to confirm their tax exemption status. This process involves three main sections:
The choice between a motorbike loan and a personal loan depends on your financial situation, credit profile and preferences.
When applying for a mortgage, lenders scrutinise your financial habits to assess your creditworthiness.
WEBINAR 28 AUG// 12PM
Explore the crucial differences between employees and contractors. We'll discuss when genuine contractors are considered employees for PAYG
withholding and SG, key factors determining employment or contract arrangements, and new guidance from the ATO.
As a landlord, there are several things to consider when deciding to sell a property with a current lease this Spring.
With Spring selling season just around the corner, it can be a great time for buyers to find an investment property.
The number of Australian suburbs with an average house price of $1 million or more is expected to increase significantly in the coming year.
Asset finance is a powerful tool that allows manufacturing businesses to acquire essential equipment and technology without large upfront costs.
Debtor finance offers a great way for businesses to better manage their cash flow.
The rapid growth in online retail sales during the pandemic has plateaued, potentially affecting demand for industrial property.
Property prices in Brisbane could see a boom of over 50% in the lead-up to the 2032 Olympics.
Systemisation is more than just a buzzword—it's a game-changer for businesses aiming to achieve sustainable growth. In our recent podcast episode, I had the chance to explore this topic with Dave Jenyns, the visionary founder of SYSTEMology and SYSTEMhub.
Systemisation is the backbone of a successful business. It is the process of creating repeatable and efficient workflows that streamline operations, reduce stress, and foster growth. This blog explores why businesses should embrace systemisation, how they can implement it, and what types of businesses stand to benefit the most.
Explore how adopting an AI-first approach can transform businesses! David Jenyns from Systemology chats with Shannon Smit who shares how AI and robotic process automation (RPA) have revolutionised the operations at Smart Business Solutions.
Investment in Australia's commercial property market surged in the second quarter of 2024, with foreign investors leading the charge in major office acquisitions.
Join us for a comprehensive 4-part webinar series designed for small business owners seeking growth and better financial management.
Presented by Shannon Smit from Smart Business Solutions, each session will delve into critical aspects of compliance review framework for
workers and employers, providing practical insights and strategies to help you navigate complex financial landscapes and make informed
decisions.
Rapid population growth, high construction costs, and significant interest rate cuts forecasts will provide a strong tailwind to the sector.
Retirement can feel like a shockwave, particularly if life’s circumstances or a redundancy means that you don’t get to choose the timing.
Understanding and effectively managing excise tax is crucial for the success of distilleries and craft alcohol producers in Australia. With proper planning and strategic execution, businesses can thrive in this heavily regulated yet dynamic market.
Even amidst loss, there are ways to secure a strong financial future for your loved ones. Our advisers are here to help you create a resilient plan with tools like education bonds, ensuring your family's needs are met today and for years to come.
As countries around the world isolate from globalisation, we’re seeing an increasingly fragmented global economy.
With inflation coming off the boil, there was optimism that borrowing costs have peaked and could be lowered later this year. In turn, this could be beneficial for corporate earnings.
Building on the findings from Xero Small Business Insights (XSBI) report, Small business productivity: Trends, implications and strategies, this special report presents industry and regional labour productivity data for small businesses.
Property prices continue to go from strength to strength with new data showing values are once again reaching record highs.
Inflation in Australia is still elevated at 3.6 per cent, managing on a single income is tougher than ever.
The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it.
Cost of living pressures is seeing an increasing number of Australians headed for an easier life in regional suburbs.
In this podcast, we talk with Mick Simmons, founder of Mental Health Safety Net, a grass-roots organisation that provides suicide awareness training to workplaces and schools. Trigger Warning: This episode has content related to suicide and mental health issues.
Equipment loans are an important financial tool that allows businesses to acquire the necessary machinery and tools without straining their cash flow.
It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return.
Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year.
As tensions between Australia’s largest companies, their customers, and the federal government flare, companies such as Woolworths, AMP, and Qantas are placing a higher priority on measuring their community reputation.
Australia has become an expensive place to live, so it’s not surprising that the lure to retire at an idyllic, low-cost, offshore location is getting a lot of attention. We discuss the pros and cons.
As Australia's highest marginal tax bracket impacts more individuals, a growing number of Australians face rising tax obligations due to "bracket creep," where wage growth outpaces tax rate adjustments. This trend is expected to persist, with tax-efficient strategies the backbone for financial advice to help individuals secure long-term wealth.
Discover 9 essential financial planning tips to help new and expecting parents manage the costs of parenthood with confidence and ease.
The Taxable Payments Annual Report (TPAR) is a mandatory report for Australian businesses in certain industries to disclose contractor payments to the ATO by August 28 each year, ensuring accurate tax reporting.
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