Articles

September 28, 2020

5 Steps to Growing your look at College and Professional Services Firm

This focuses on the elements we think need to be in place before you grow your professional service firm…but firstly, a diversion. Have you seen the movie, The Founder, with Michael Keaton? The Founder is the story of Ray Kroc and McDonald’s. The opening scene (about 2 mins) of this movie draws some fantastic parallels […]

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September 28, 2020

Taking Financial Control of your Professional Services Firm

If you are a partner or owner of a professional service firm, and you: Don’t take regular profit distributions Run the business from your bank account Have no idea how the business is performing Don’t know what the capacity of the firm is and if you do, if you are under or overachieving Don’t receive […]

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September 28, 2020

An introduction to Division 293 tax

As a reminder, when concessional contributions are made into your super fund, commonly being amounts paid by your employer from your before-tax income or a personal contribution that you are claiming a tax deduction for in your personal tax return, they are generally taxed at a reduced rate of 15% – which can be a […]

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September 22, 2020

The Black Hole between Billings a Capacity in your Professional Services Firm

Once we have an understanding on the capacity of your professional services firm, we then work to understand the ‘gap’ between the capacity in your professional service firm, against what it is actually billing. We call this gap the ‘black hole’ in a professional service firm. You need to calculate the billing capacity of your […]

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September 22, 2020

Calculating Capacity in your Professional Services Firm

The first thing we do when working with a professional service firm is to calculate the billing capacity of that firm. In this guide, we will explore these so you can apply to your business, but note, every professional service firm is different and these should be used as a guide only. Fees Generated per […]

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September 1, 2020

New JobKeeper Alert

With the employee test date for JobKeeper moved to 1 July 2020, some additional employees might have become eligible. The August JobKeeper monthly business declaration is due by 14 September and is different to the previous form as it covers three JobKeeper fortnights. Employers need to ensure that they identify all additional employees who could […]

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September 1, 2020

Question of the month

My business received a grant from the State Government. Do I pay tax on it? Short answer; probably. Income tax Grants are likely to be taxable unless they are specifically excluded from tax. If the grant relates to your continuing business activities, then it is likely to be included in assessable income for income tax […]

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September 1, 2020

Forecasting During a Pandemic

Now, more than ever, business operators should have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely your customers, your supply chain, and your workforce will be to some extent. So, how do you plan for uncertainty when every assumption is subject to change? Understand […]

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September 1, 2020

JobKeeper Update: A must read, action required

JobKeeper Update: A must read, action required Update: A must read, action required The Treasurer, with powers available under the JobKeeper legislation, has brought in a change that would see employees employed at 1 July, now eligible for JobKeeper. This is an extension on the previous 1 March 2020 reference date. If you are currently […]

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August 12, 2020

Covid-19 Help for Individuals

Services Australia has an online payment guide that guides you through the payments available if you are impacted by COVID-19 and what you might be able to access. Pandemic Leave Disaster Payment for Victoria If you have to self-isolate or quarantine at home because of COVID-19 or are caring for someone who is, and cannot […]

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Contact

Suite 13, 241 Blackburn Road Mount Waverley VIC 3149

Phone: (03) 9802 2533

Fax: (03) 9802 0590

Postal Address: PO Box 323, Mount Waverley, Victoria 3149

Email: mail@rogersonkenny.com.au

ABN: 29 545 604 022