- Business Stimulus Package AnnouncedIn a bid to minimise the potential impact of the Coronavirus to the Australian economy, the Government has today announced a $17.6 Billion targeted stimulus package.* We will keep you updated as soon as more information becomes available, but this is what we know so far: Instant Asset Write-Off Concessions have been extended 15 Month…
- What is a business advisor?You’ve heard of financial advisors and business consultants, but what is a business advisor? And more importantly, do you need one? A business advisor looks at things like strategy, growth, profit improvement, structure, governance and more. For example, a business advisor might examine finite details like, how long it takes to move products from your…
- Self-Managed Superannuation FundsDeciding to manage your own superannuation fund is a sizable responsibility however, if done with the right support and advice, isn’t too big of a commitment and certainly worth the effort. What is a self-managed superannuation fund (SMSF)? A SMSF is a private superannuation fund regulated by the Australian Taxation Office (ATO) that you manage…
- Buying a business premisesBuying a business premises is similar to buying a house however, there are a few differences. First, you’ll need to undertake a thorough due diligence process, which includes things like: If you need to obtain finance, allow long enough for your bank to settle; typically 60-90 days. You will also likely need a much larger…
- How to shake up and shape up your small businessWe’re lucky enough to work with hundreds of small businesses across Victoria, so we have seen a lot in terms of business performance and lack thereof. If you feel your business has become a little humdrum, here are a few tips to shake up and shape up your business. Review your business finances with a…
- Learning from a Business FailureA business failure doesn’t have to mean the end of the world. A failure might actually be the beginning of a much stronger and more resilient business. Here are the things you should consider and take away from a business failure. The blame game It can be hard not to blame others, or extenuating circumstances…
- Tax PlanningDid you get an unexpectedly large tax bill? Don’t get caught out again. With good tax planning, you can defer some of your income to a later year, or accelerate planned expenditure to reduce your current year’s tax. You have the right to arrange your financial affairs to keep your tax to a minimum –…
- What motivates you to work for yourself?If you feel like your business is getting you down and you’re just wanting to keep up with the Joneses, ask yourself why you got into business in the first place.
- Personal Income Tax Cuts 2019 – ExplainedDepending on your income, the legislation passed by the Government in July will give Australian taxpayers an extra $255 to $1,080. So what does this mean for you? If you earned: Some examples A person earning: • $35,000 gets $255 back• $45,000 gets $855 back• $55,000 gets $1,080 back• $80,000 also gets $1,080 back• $100,000…
- Succession Planning – Why is it so Important?Sharp Accounting’s Glenn Sharp & Ewen Fletcher talk about why business succession planning is so important. You might not like to think about it, but one day you will inevitably need to leave your business. Whether it’s to retire, to move on to something else, a partnership dispute, or for health reasons, a succession (or…
- 5 Reasons Why you should be patient when Investing in PropertySince being back from Christmas Break (which seems like an eternity ago now), I have been asked several times by clients and friends about buying an investment property and whether now is the “right time” to buy. I cannot remember a time when my response to this question hasn’t been that there is never the…
- VOTED Australia’s Best Accounting Firm for Private ClientsSharp Accounting Ballarat is proud to announce that we are the 2018 Professional Services Awards winner for the ‘Best Accounting Firm for Private Clients’ Australia wide, which is backed by NAB. Judged by clients, these awards showcase the best small to medium firms. Each firm was rated on their Expertise, Reliability, Communication and Understanding of client needs,…