Brealey Quill Kenny Blogs

Government Grants For SMEs

Changes to Business Evaluation and Business Growth Grants Last month, we commented on the Business Evaluation and Business Growth Grant, part of the Entrepreneurs’ Infrastructure Program. Last week, the Australian government announced some significant changes to these grants. This resulted in the following industries being withdrawn from the eligible industries for support: Defence Energy, Water...
Read More

We Are In Challenging Times!

The Australian economy certainly has a number of contradictions at present: The stock exchange values are up. Housing finance is up. House prices are up. Interest rates are still at a very low 2.5%. However, there’s an expectation that the Reserve Bank of Australia would like to raise the interest rates to around 3.5%. However,...
Read More

Bookkeeper Fraud

This article from the Tax Smart Australia Newsletter highlights the importance of reviewing the conrols around your bookkeeping process. A national study into fraud by bookkeepers employed at small and medium-sized businesses has uncovered 65 instances of theft in more than five years, with more than $31 million stolen. The study looked at criminal convictions...
Read More

End of Year Business Checklist

We expect that many of our business clients will be preparing to send us the information to complete their 2014 Financial Statements & Tax Returns. To assist in this regard, we have prepared a checklist available from our website https://www.bqk.com.au/wp-content/uploads/2014/07/End-of-Year-Business-Checklist.pdf The list is fairly exhaustive. As a minimum we will generally need: Reconciled MYOB Data...
Read More

Advantages of using the Business Portal

The ATO is starting to move towards paperless reporting for business taxpayers. We are therefore encouraging our clients to register for the ATO Business Portal. What is the Business Portal? The Business Portal is a secure website for managing your business tax affairs. You can use the Business Portal to: View, prepare, lodge and revise...
Read More

Elimination Of Waste Is A Key Management Challenge

Waste is defined as anything within the process, people or structure that is wasteful, including space, time, parts, people’s potential and more. Management needs to observe what’s happening on the workshop floor, shop floor, office, hospital, surgery, etc, to get a full understanding of the potential for waste reduction. There’s no use worrying about tomorrow...
Read More

Characteristics Of A Well Run Business

Do You Have Sufficient Capital? To run a successful business, you need to have a supply of capital. This could be your own money, money lent to you by family and friends, or money you’ve negotiated to borrow from a bank. Banks are reluctant to lend to a start-up business, unless the business operators have...
Read More

Government Grants For SMEs

Entrepreneurs’ Infrastructure Program – Phase One Commences The Australian government has announced the commencement of the Entrepreneurs’ Infrastructure Program, which will be released in three phases: First Phase – Business Evaluation and Business Growth Grant, which is now fully operational. Second Phase – Research Connections Program commences in September 2014. Third Phase – Commercialising Ideas...
Read More

ATO Targeting Specific Deductions

The Australian Taxation Office (ATO) has decided to change its usual tactic of targeting specific professions and is now targeting specific deductions. In the 2014 tax season, the areas of deductions targeted are going to be focusing on: overnight travel; transporting bulky tools and equipment; and work-related proportion of use for computers, phones and other...
Read More

What Should A Business Do In Relation To The PPSA?

There’s no doubt that, in the first instance, you should be talking to your commercial solicitor, to ensure the ‘Retention of Title’ clauses, which you are utilising in your business, have been appropriately drafted after 31 January 2012, to comply with the PPSA. Businesses also need ‘Terms of Trade Agreements’ prepared, to comply with the...
Read More
Read More
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...
Read More