Author: Glenn Sharp

In this short video, Glenn reminds you to protect yourself from phishing scams targeting your banking details. Scammers are sending fraudulent emails with links to “reset passwords” or “update details,” aiming to steal your identity or access your bank account. Remember, legitimate banks never ask for sensitive information via email links. To stay safe, never…

Every business has a finite lifespan. Some may last for decades, while others may only last a few years. As a business owner, the life of your business is likely to be strongly aligned with your own life goals and personal plans for the future. When the time comes to sell, it’s important to know…

In this video, Glenn shares how you can maximise unused concessional superannuation contributions from the past five years, provided your super balance is under $500,000. Watch to understand the strategy and steps to optimise your contributions efficiently.

Selling your business is a significant decision, reflecting years of dedication and hard work in building its success. When the time comes to sell, boosting your business’s value and securing its future becomes critical. Five Steps to Prepare Your Business for Sale Preparing to sell a business is rarely a quick process. Most owners start…

The Federal Treasurer, Dr Jim Chalmers, handed down the 2024–25 Federal Budget at 7:30 pm (AEST) on 14 May 2024. The key tax measures announced in the Budget include extending the $20,000 instant asset write-off for eligible businesses by 12 months until 30 June 2025, introducing tax incentives for hydrogen production and critical minerals production,…

Owning a business can be brilliant, but you might not want to do it forever. Whether you’re ready to retire, want to cash out, or just need a break, at some point, you will probably want to move on from your business. Even before that time comes, you’ll need a plan for stepping back. Options…

Succession planning involves preparing for the future transfer of ownership of your business. It ensures a smooth transition and helps minimise stress, maximising the outcome during a potentially challenging period. Read more about succession planning here. Why Succession Planning Matters Succession planning is about defining your vision for the future and the steps needed to…

Bill from Ballarat asked us what the economic outlook for the next 6 to 12 months looks like. Glenn shares what’s ahead in this short video. Interest rates are expected to stabilise, and potential cuts may follow if the economy rebounds. However, government forecasts suggest a rise in unemployment, making for a challenging market.

Glenn shares his thoughts about the recently disappointing news for small businesses in the recent federal budget release. The proposed increase in the instant asset write-off to $30,000 has been stalled, likely settling at $20,000. With rising prices, this isn’t ideal. Additionally, the $300 Power rebate and trimmed tax cuts offer little excitement. Watch the…

Our latest frequently asked question is from Gavin: “Why does the ATO want multiple payments for BAS, tax, and PAYG? Why can’t I just make one payment?” In this video, Glenn shares why the ATO requires multiple payments for BAS, tax, and PAYG instalments. From withholding employee wages to GST and income tax, each payment…

In business, cashflow equals confidence and resilience. Take charge of your financial future with these strategies to help you manage cashflow in your business: Establish Clear Payment Terms: Set clear Terms of Trade outlining payment expectations for each customer. Ensure prompt payment by clearly defining payment deadlines and consequences for late payments, as outlined in…

In today’s competitive business landscape, ensuring timely payment is paramount to sustained success. Any business model’s core lies the pivotal process of generating revenue through sales. However, the viability of this revenue stream hinges on the prompt settlement of invoices by customers. Efficiency is key when it comes to cashflow management. The smoother the payment…