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
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
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
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
If you’re contemplating starting a new business in this current environment, you need to ensure you’ve done your homework first. Research the business and the market you’re trying to serve. Have a closer look at the competitors to the type of business that you will be operating. Have you thought about all of the aspects... Read More
Time is one of those things which cannot be expanded, however it can be better managed. Every one of us has 24 hours or 1,440 minutes per day. Some business people are better managers of their time than others. Business people need to allocate the number of hours per day that they are prepared to... Read More
There is a lot of uncertainty at present, caused by: the world political events (Middle East, Ukraine, Iraq). the slow-down in the Chinese market. the problems the Australian government is having with its budget being passed by the Senate. interest rates will probably remain low for the immediate future. However, there is speculation that the... Read More
A SMSF is independently established and controlled by an individual. This means that you are personally responsible for complying with legal requirements as the trustee of your SMSF. It is a way for saving for your own retirement, and rather than just being a member of a super fund, you are also the trustee – which... Read More
Changes to Superannuation Contribution CapsChanges to Concessional (Deductible) and Non-Concessional (Non-Deductible) Contribution Caps from 1 July 2024 From 1 July 2024, changes to concessional and non-concessional contribution caps will take effect, allowing individuals to contribute more to their superannuation.... Read More