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
23
Aug 2019
Records management for small business
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. A simple advice from a small business consulting services group is that you should find out what records you should keep, and evaluate how well your business is keeping records by using the ATO’s record keeping evaluation
23
Aug 2019
Records management for small business
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. A simple advice from a small business consulting services group is that you should find out what records you should keep, and evaluate how well your business is keeping records by using the ATO’s record keeping evaluation
We recently came across an article by former Prime Minister, the Hon Paul Keating where he says that he originally designed the superannuation system for people from the ages of 55 to 75, but that’s changed: “So, we have two groups in retirement – a 60 to 80 group and an 80 to 100 group. The 60 to 80 group is all about retirement living and lifestyle, which I think
16
Aug 2019
Checklist: bookkeeping services
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
16
Aug 2019
Checklist: bookkeeping services
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
14
Aug 2019
Understanding Your Trust Account
Many property managers are sometimes overwhelmed by the financial aspects of managing a trust, on top of managing their general business finances (if they own one). Most of then don’t know that they can get help from appointment setter services to attend a financial seminar for great information. This would have to be one of the biggies. When you are young, it’s easy to push super to the back of
12
Aug 2019
8 to-do list productivity boosters
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, Also go to my site to check out how to reduce your anxiety. 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
Selling a business requires careful consideration and planning. Often, if a business doesn’t perform as expected, the purchaser will look to the vendor to compensate them for the poor performance of the business. Set out below are a number of take home points to remember when selling a business to try and minimise the risk of being sued and getting into a lengthy and expensive dispute. Misleading and deceptive conduct
Selling a business requires careful consideration and planning. Often, if a business doesn’t perform as expected, the purchaser will look to the vendor to compensate them for the poor performance of the business. Set out below are a number of take home points to remember when selling a business to try and minimise the risk of being sued and getting into a lengthy and expensive dispute. Misleading and deceptive conduct