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Changing accountants – How to change accountants
As in all exercises of substance, the first step is to plan your actions. In this concise article we outline what needs to be done to identify a top line adviser. The ten most common reasons for wanting to change accountants are: Phone calls not returned promptly or not at all. Poor value proposition. Deadlines…
Divorce – what it means to you (and your business)
Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of issues that need to be resolved and failure to address them pro-actively will cost you more tax. What happens when there is a family company? A recent ruling from the Australian Taxation Office (ATO) will create…
Debt Swap – transforming interest from non-deductible to deductible
Want to save on home mortgage interest? If you are self-employed read on, this may the best thing you have read in years. Fact – Almost all home owners pay their interest in after-tax dollars. Fact – Paying interest in pre-tax dollars is a much better arrangement. The above statements are so obvious that many…
Changing accountants – Changing accountants is easy
A few years ago ANZ conducted a survey of SME accounting clients. An astonishing 43% of respondents said that they would change accountants if an appropriate one was presented. This is a measure of “perceived indifference” rather than hostile dissatisfaction. Compare that to the fact that accounting practice clients are generally perceived to be highly…
Jail Time For Underpayment of Wages
The last sitting of the Queensland Parliament before the election was 17 September 2020. During that final session, legislation was passed that now makes it a criminal offence to knowingly underpay staff. (Stand by for some heavy legal argument around the term “knowingly”.) This potentially means jail time for erring employers for up to fourteen…
20 Ways to Grow Your Business
A wise man once said “if you are looking for a 10% improvement, find 10 one percent actions”. We hope you can find ten one percenters to grow your business in this article. Set a business battle Plan of what targets of you want to achieve and then draw up a Budget to fund your…