Articles

November 10, 2020

5 Steps to Growing your Legal Firm

When thinking about how to grow your Legal Firm, it’s common to look straight at issues with marketing and sales. But, marketing and sales should be one of the last considerations. Clearly, a very important component, but without the support of the other components, you may have a marketing department firing on all cylinders, without […]

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November 10, 2020

Taking Financial Control of your Legal Firm

If you are a partner or owner of a legal 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 regular […]

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November 10, 2020

The Black Hole between Billing and Capacity in your Legal Firm

This guide is about understanding the ‘gap’ between the capacity in your legal firm, against what it is actual billing. We call this gap the ‘black hole’ in a legal firm. We then explore some common reasons why there may be a gap and what you can do about it. Comparing Capacity to your Billings […]

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November 10, 2020

Calculating Capacity in your Legal Firm

There are many methods and rule’s of thumb when calculating the billing capacity of your legal firm.   In this short guide, we will explore these so you can apply to your business, but note, every legal firm is different and these should be used as a guide only.    This will show you the inputs required […]

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November 10, 2020

Caravan Park Buyers Webinar

DETAILS AS FOLLOWS Date: Nov 17, 2020 Time: 7:00 pm (Melbourne time) This Webinar will be presented Via Zoom Registration is required to secure your spot After registering, you will receive a confirmation email containing information about joining the webinar. We look forward to seeing you there! REGISTER HERE! Webinar Speakers! Ricky Symes – Director, […]

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October 30, 2020

JobKeeper clawback begins

At the recent Senate Estimates hearing, Jeremy Hirschhorn, the ATO’s Second Commissioner, stated that $120 million in JobKeeper payments had been clawed back from those either deliberately seeking to rort the system or who had made reckless mistakes. Mr Hirschhorn went on to say that there did not appear to be widespread fraud across the […]

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October 30, 2020

Refunds for Tax Losses

If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits. In the 2020-21 Federal Budget, the Government announced that businesses with turnover under $5bn will be able to offset any losses made between 2019-20 and 2021-22 against previously taxed profits between 2018-19 and […]

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October 30, 2020

Tax deductions for investing in your business

Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use. This means that an asset’s cost will be […]

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October 30, 2020

JobMaker Hiring Credits: What We Know So Far

We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll let you know as soon […]

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October 1, 2020

Victorian Government Support for Business: Announcement

On Sunday 13 September 2020, the Victorian Government has announced a new support package of $3 billion, in “cash grants, tax relief and cashflow support delivered to Victorian Businesses.”Read the Victorian Government Announcement here. While there are almost no details on the support package for Businesses as yet, we wanted to put together what we […]

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