Brealey Quill Kenny Blogs

Bank Relationships Are Important

At present, the majority of bank lending is for property investments. Banks are saying this is where the demand is. Bank lending for property is easier than lending for small businesses. To have a successful relationship with your bank, you should consider implementing a bank strategy, including preparation of a budget and cashflow forecast, which...
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Developing Leadership ‘People Skills’

The high cost of replacing staff is well known, as is the evidence that the majority of people leave their jobs, not because of the type of work they’re required to do, but because of poor relationships with their managers.  The managers might ensure the processes, procedures and systems are done right, but have little...
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Government Grants For SMEs

Export Market Development Grant To be able to claim an Export Market Development Grant, the business must have spent the funds to seek out, create demand for or develop an export market for the business’ products.  The business must be the intended principal in the export transactions.  The expenses that relate to export activities to...
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Economic Conditions Still Challenging

The national growth rate is now over 3%, which many economists believe is ‘back on track’.  This means that there should be more money available for spending which, in the long term, will assist businesses. There are some odd trends emerging: The employment rate, which for most of the global financial crisis period remained in...
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Digital Disruption – Strategies To Minimise Effects

Two years ago, Deloitte Chartered Accountants (one of the Australian Big 4 firms) produced a report, ‘Digital disruption – short-fuse, big bang?’ Deloitte has recently updated that report and has identified that 17 industries, comprising 65% of the Australian economy, will face significant disruption by 2017.  Deloitte grouped the industries into the following categories: Short-fuse,...
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Personal Property Securities Register – A ‘Potential Time Bomb’

Lack of knowledge of the Personal Property Securities Act (PPSA) and the Personal Property Securities Register (PPSR) could be a ‘time bomb’ for businesses. Millions of dollars has already been lost by businesses that paid for an asset but had not registered that asset on the PPSR.  Whilst it’s voluntary to register, if you have...
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Tax Update

Some aspects of the government’s budget have passed through the Senate and are now law, such as: For high income earners, the top marginal tax rate, which now includes the ‘deficit repair levy’, is 49%. The government has undertaken to review the imposition of the ‘deficit repair levy’ on 30 June 2017. From 1 April...
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Buying A Business

If you are contemplating purchasing a business, you need to assemble information on the business for a business evaluation to be prepared. The information includes: Copies of financial accounts, in particular, the trading and profit and loss accounts for the last three to five years. The balance sheets for each of those years. Details of...
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Romalpa Clauses Don’t Work Anymore – Unless!

Under the Personal Property Securities Act (PPSA), a ‘Retention of Title Clause’ (Romalpa) is no longer effective in itself against a third party claim. This means that, if you supply goods on a ‘Retention of Title’ basis but don’t have a signed ‘Terms of Trade’ agreement and ‘financing statement’ that signified that you’ve registered a...
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Bitcoin – ATO’s Rulings

‘Bitcoin’ is a new, ‘hip’ and happening method of payment in lieu of normal currency and it appears that the Australian Taxation Office (ATO) is now taking this other crypto-currency seriously. The ATO has released three draft rulings in which they’ve set out the ATO’s position, whereby the crypto-currencies are deemed to be either a...
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Brealey Quill Kenny discuss Protecting your Super PackageChanges to Superannuation Legislation On 1 July 2019, The Federal Government’s Protecting Your Super Package Act comes into effect. This package is designed to protect Australian’s retirement savings from being depleted by unnecessary fees and insurance...
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