There are a number of ways that a document can be signed by a company and it is important that all directors are familiar with the formalities that need to be adhered to when executing documents. It is essential that all documents signed by a company are executed properly to create legally binding agreements that are enforceable. The formal legal requirement that a company execute documents by fixing its common

Depending on what side of a purchase or sale of a business you are on, can significantly affect your obligations to employees as part of the transition. So what does this actually mean for each stakeholder to address employee entitlements? This article looks at the following elements: Whether the sale conditions constitute a ‘transfer of business’. How employment instruments are applied. When annual leave, notice of termination, and redundancy entitlements

There are a number of circumstances under which you should consider forming a trust, and several different types of trust structures that can be used. Your circumstances will determine which structure is most appropriate for you. Some types of trusts include: Single/Umbrella Trust – all assets are transferred to one trust Parallel/Mirror Trust – each settlor (for example a husband and wife or de facto partners) transfers assets to separate

As a business owner, you’re required by the Australian Taxation Office (ATO) to keep records for a minimum of five years, in plain English, and in a way the ATO can access if they need it. Find out what records you should keep, and evaluate how well your business is keeping records by using the ATO’s record keeping evaluation tool.   Keep track of your procedures Make note of the procedure you use

Less time doing bookkeeping means more time running your business! When do you need a bookkeeper? These are some of the signs you should look for when deciding to hire a bookkeeper: Doing the books is taking you away from working on your business. The business transactions have substantially increased since you first started. You’re not sure that records are being kept correctly. Your tax and/or other compliance is getting

Small business owners will all know that feeling of task anxiety; that moment after you frantically write down a list of projects, tasks and due dates when you ask yourself, How am I going to get everything done? Is this possible? It’s not because you have too many tasks to complete, it’s because you haven’t structured your to-do list effectively. Understanding how to prioritise, bundle, time manage and reflect will help

With the new financial year upon us, you might be thinking about getting ready to lodge your tax return, either on your own or through a registered tax agent. Ask yourself (or your tax agent) these six questions to make sure you get your tax right and use this tax time to set yourself up for a great year ahead. 1. Which records do I need to keep? sales and

Be sure to keep these common mistakes top of mind as you develop your trust accounting policies and procedures to minimise the possibility of error – the penalties for which can be as severe as losing your licence! 1. Not reconciling daily One of the most common trust accounting mistakes property managers make is not reconciling frequently. You should make sure your accounts are balanced every day if possible, so