Success is one of the hardest things to recognise. Not because success is rarely achieved, but because it is so often unclearly
defined. Intentionally setting the time to do an objective year-end annual review is one easy way to increase your chances of
recognising success in this year and to set yourself up for success in the coming year.
Annual reviews are a powerful business tool. They provide insight into the past year through analysing metrics and other data.
While the financial review is a valuable tool on its own, business owners have an advantage they should utilise when they conduct their annual reviews. Involving a strategic business accountant can provide additional insights into the past year and help shape goals and metrics for the new year.
Five areas most visited in financial reviews are:
Business owners know what they want from their business, but sometimes they forget to define what that is. An annual financial review with
your accountant is a great chance to have a fresh set of eyes looking at the books and asking questions. Use those questions to define your
next year and enjoy feeling more successful as a result.
In this episode of The Accountant That Builds, Shannon Smit talks about business structure and setting yourself up with the right foundations to ensure a stable ground to encourage business growth, hiring, expansion and compliance.
Australia’s surging population growth is likely to drive increased demand for both rental properties and student accommodation.
When interest rates are changing, borrowers need to be proactive in how they manage their mortgage.
The smaller capital cities of Perth and Brisbane are expected to be the top performers over the next 12 months.
An SMSF can invest in property development if trustees ensure the investment complies with the rules.
An SMSF can invest in property development if trustees ensure the investment complies with the rules.
Consolidating various debts into your home loan can be a strategic financial move that reduces your interest and allows you to pay the debt down faster.
The problem when the evidence doesn’t match what the taxpayer tells the ATO.
An SMSF can invest in property development if trustees ensure the investment complies with the rules.
An agreement states that a worker is an independent contractor, this does not mean that they are a contractor for tax and superannuation purposes.
One of the best parts of the summer holidays is packing up the car and heading off on a family holiday. Many Australians are staying at caravan parks in iconic locations
The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government.
Home is the biggest expense and the sooner you can pay down the debt, the better off you’re going to be financially.
With affordability challenges in major cities, buyers may explore "bridesmaid suburbs" – second-choice areas that offer more reasonable property prices.
Buying a property, whether as an investment or residence, is never a straightforward process. Take time to research properties, and then make a competitive offer to get the deal done.
Without the need for upfront payments, asset finance can play an important role in improving a business's cash flow management.
The report found that student accommodation is also likely to see steady rental growth in 2024.
After a tough year for commercial property investors, the outlook will be better in 2024, according to an expert.
Australian property prices have officially recovered from the declines of last year, home prices have risen by 8.1%, taking values to a new record high at the end of November.
A decision by the Administrative Appeals Tribunal has the tax world in a flurry after found taxpayer who sold the apartment she lived in for a loss, then claimed the $265,935 loss in her tax return as a deduction.
Legislation enabling an extra 15% tax on earnings on super balances above $3m is before Parliament.
Commercial investors continue to seek out alternative assets even as higher interest rates see demand for the sector slow down.
We are thrilled to share that Shannon Smit, our Founding Director and CEO, has been appointed to the ATO's Small Business Stewardship Group for 2024/25.
Uncertainty has reigned over the last few years, but can we expect more consistency as we head into 2024.
Queensland first-home buyers have another reason to celebrate this Christmas with the state government recently doubling the first home owner grant to $30,000.
2023 has been a tricky year for commercial property investors. However, the tourism and industrial sectors have continued to be the strongest performers.
If your work Christmas party is out of the office, keep the cost of your celebrations below $300 per person if you want to avoid paying FBT.
Sellers who list their properties during the holiday season are typically motivated for a quick sale.
As the calendar approaches the year's end, car manufacturers are keen to make space for the latest models set to hit the market in the new year.
Cash flow issues can be particularly challenging during the holiday period, so business owners need to be on guard and plan ahead.
While giving gifts and spending time with family is important, if you’re looking to buy a home, it’s important that you keep your finances on track.
Recent research shows why giving to others can provide us with a mental boost. We feel happier when we have a choice in how and who we give, and when we see the results of our generosity.
Spending big over Christmas can risk undoing good budget habits. Thinking differently opens up lots of opportunities to spend less while still experiencing the joys of the season.
Rising interest rates hit smaller companies. Now it looks like the rate rise cycle could be coming to an end.
We step through recent research that shows why giving to others can provide us with a mental boost.
As the holiday season approaches, it's crucial to consider how your spending habits may influence especially when it comes to utilising easy credit options.
A budgeting app is an app designed to help you optimise the spending and savings choices you make each month.
We'll dive into some of the everyday mistakes and tricky grouping issues that small businesses often encounter when dealing with payroll tax.
Maintaining control over cash flow is undeniably a complex balancing act. It's a challenge that lacks a quick and universal solution.
This article aims to shed light on red-flag indicators that may suggest it's time to consider changing accountants, providing insights into the reasons behind such a decision.
Prepare Your Business for a Successful New Year - Challenging conditions, unpredictable supply chains, and increasing inflation highlight the importance of expert financial support.
A dedicated construction and trade accountant possesses an in-depth understanding of the sector's unique requirements and intricacies.
The journey often begins with businesses adopting simple ownership structures, yet as they progress and expand, intricate challenges emerge.
While any accountant can handle trade-related finances, opting for a specialist in the trades industry offers unique advantages.
Regularly monitoring your income and expenses is crucial. These practices will help keep your financial standing robust.
ONLINE WEBINAR
23 February 2023 // 12:30pm
In our upcoming webinar we'll be diving into some common exit
strategies for successful succession planning, the pros and cons, and what you need to consider before making a decision.
You’ve worked hard for what you have – it’s time to protect it for the next generation.
ONLINE Webinar: Insurance Stripped Bare - What you really need to protect your assets
It doesn’t matter how much you have. It’s what you do with it that counts.
Not just for young entrepreneurs, this webinar is designed for anyone who is within their first 2 years of a new business to ensure you've got the most important operational, legal and financial structures in place.
Taking time to ask yourself the big questions can be daunting and empowering at the same time. Understanding and prioritising your goals and needs is a valuable step.
With many of our business community made up of building companies, building suppliers and trades people, this is an issue bigger than ProBuild itself. The ripple effect of the demise of such a building giant will leave many of us asking the question ‘how secure is my business and my livelihood?’
In this webinar we will go through tax effective strategies that can achieve a net-benefit to your employees without costing you more.
The impact of Covid-19 and the associated lockdown has made it more important than ever to ensure, where possible, that you’re still getting paid.
If you're looking into investing into property, regardless if it's residential or commercial, there's plenty to weigh up.
To have the retirement of your dreams, you must plan ahead. The bonus is, the sooner you start thinking about your retirement life, the better opportunity you have of making those dreams a reality.
You've got a big block with big plans to subdivide in order to make big bucks. But do you know the ins-and-outs of property development from a TAX perspective? Before you jump in and commit to anything, it is important to understand the tax liabilities that might arise from your projects that will affect your overall profitability.
Tax planning is more than just a financial necessity—it's a strategic advantage for businesses of all sizes. By proactively managing your tax strategy, you can significantly reduce your liabilities, enhance cash flow, and ensure full compliance with ever-evolving tax regulations.
