Success is one of the hardest things to recognise. Not because success is rarely achieved, but because it is so often unclearly
defined. Intentionally setting the time to do an objective year-end annual review is one easy way to increase your chances of
recognising success in this year and to set yourself up for success in the coming year.
Annual reviews are a powerful business tool. They provide insight into the past year through analysing metrics and other data.
While the financial review is a valuable tool on its own, business owners have an advantage they should utilise when they conduct their annual reviews. Involving a strategic business accountant can provide additional insights into the past year and help shape goals and metrics for the new year.
Five areas most visited in financial reviews are:
Business owners know what they want from their business, but sometimes they forget to define what that is. An annual financial review with
your accountant is a great chance to have a fresh set of eyes looking at the books and asking questions. Use those questions to define your
next year and enjoy feeling more successful as a result.
WEBINAR 25 SEPT // 12PM
The final session focuses on the changing legal environment, highlighting recent amendments to the Fair Work Act, capturing independent
contractors under workers' compensation schemes, payroll tax considerations, superannuation compliance, and practical steps to mitigate
risks.
In this episode of The Accountant That Builds, host Shannon Smith 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.
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.
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.
ONLINE WEBINAR
23 February 2023 // 12:30pm
In our upcoming webinar we'll be diving into some common exit
strategies for successful succession planning, the pros and cons, and what you need to consider before making a decision.
You’ve worked hard for what you have – it’s time to protect it for the next generation.
ONLINE Webinar: Insurance Stripped Bare - What you really need to protect your assets
It doesn’t matter how much you have. It’s what you do with it that counts.
Not just for young entrepreneurs, this webinar is designed for anyone who is within their first 2 years of a new business to ensure you've got the most important operational, legal and financial structures in place.
Taking time to ask yourself the big questions can be daunting and empowering at the same time. Understanding and prioritising your goals and needs is a valuable step.
With many of our business community made up of building companies, building suppliers and trades people, this is an issue bigger than ProBuild itself. The ripple effect of the demise of such a building giant will leave many of us asking the question ‘how secure is my business and my livelihood?’
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.
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:
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.
