The Australian Taxation Office (ATO) has been concerned for some time about how many professional services firms are structured – specifically, professional practices such as lawyers, architects, medical practices, engineers,…
Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when
If you are a partner or owner of a professional service business, and you: Don’t take regular profit distributions Run the business from your bank account Have no idea how…
The first thing we do when working with a professional service business is to calculate the billing capacity of that firm. In this guide, we will explore these so…
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…
As a small business owner, it is important you are aware of the CGT concessions available to you when you sell your business. These concessions can be generous and result…
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…
Download your free checklist for purchasing a business here! Download Here! We have created the above 21 page free checklist to assist in the initial review of assessing a business….
Are you an employer that is registered for GST? You may be entitled to a GST credit when you make a payment to an employee to compensate for expenses they…
You may be eligible to change your GST accounting method from accruals to cash, therefore not being required to pay GST on debtors. If your small business entity has an…