Tag: Business Advice

With strong commodity prices and continued innovation in the agricultural sector, many agribusinesses are looking ahead to a positive 2024–25. While seasonal variation and cost pressures remain, proactive tax planning can help Victorian farmers maximise profitability and prepare for future challenges. Here are a few key farm tax and planning strategies to keep in mind…

If you operate a discretionary trust (also known as a family trust), there’s a crucial deadline approaching that could significantly impact your tax bill. To avoid unnecessary tax of up to 47% on your trust’s income, you must prepare and sign a Trust Distribution Resolution before 30 June 2025. Here’s why it matters — and…

If you operate your business through a discretionary or family trust, there’s a smart strategy you should consider before 30 June 2025 — using a bucket company to cap your tax rate. This approach could significantly reduce the amount of tax you pay on trust profits, and it’s one that many business owners are taking…

Tax planning takes advantage of lawful and strategic ways to minimise tax liabilities this financial year and in future years. While it may minimise taxes in any given financial year, tax planning works best when used as part of a long-term financial strategy. This post will outline some tax planning considerations for businesses and individuals…

Tax planning isn’t something you set and forget. Your strategy needs regular attention with changing regulations, business growth, and new opportunities. That’s why ongoing conversations with your accountant matter, ensuring you are proactive with your tax planning. Why regular tax planning makes a difference As your accountant and tax advisor, our goal is to help…

Your people are one of your business’s most critical assets. But are you doing everything you can to provide a supportive workplace that also drives performance and growth? This article explores practical ways to evolve your business, starting with your team. Investing in your employee experience isn’t just the right thing to do—it also enhances…

If you’re struggling to achieve the results you want, you may be missing a key element of The Results Mindset formula. This approach ensures that ideas are implemented, goals are achieved, and desired outcomes become a reality. The Formula for Achieving Results Decisions x Actions x Accountability = Results 1: Decisions: Defining Your Focus What…

Most bakeries aim for a 70% gross profit margin and 30% cost of goods sold (COGS)—but many fall short without realising why. In this short video, we explore four areas that can make a big difference to your profitability: Cost of Goods – Are you reviewing supplier costs and shopping around? Product Mix – Are…

As the year draws to a close, we encourage you to reflect on your achievements, learn from your challenges, and plan for the year ahead. If you’re looking to recharge and gain fresh insights for your business, why not pick up a great business book during the holiday break? To help you get started, we’ve…

In his latest video, Glenn shares advice on running a successful bakery, starting with knowing your numbers. Discover how to track and optimise key performance indicators (KPIs) like staffing costs, cost of goods, customer flow, and average spend. Learn practical tips to reduce wastage, streamline operations, and make small changes that drive big improvements in…

In this video, Glenn discusses the importance of understanding your financial reports to improve your business results. Learn how analysing both past performance and future projections can help you track growth, identify opportunities, and make informed decisions. Discover how financial reports can guide you towards achieving your financial goals and growing your business value. The Essential SME Checklist for Growth +…

In a challenging economic climate, managing a baking business requires keen attention to key drivers and KPIs. Learn how to adapt by optimising costs, adjusting pricing strategies, and staying informed about industry changes. Discover strategies to keep your business successful and profitable even as costs rise in Glenn’s latest video. Find out more about Sharp…