Tax & Super Newsletter – May 2022

This month’s newsletter includes a range of topics about superannuation and tax matters. Superannuation can be a great investment for your future, find out how a superfund can provide value to you long into your retirement. There are further developments on how trust distributions are being cracked down on by the ATO and also how you can finance a motor vehicle. Read more here  Read more

NFP Newsletter May 2022

This edition of the Collins & Co Not-For-Profit newsletter includes a variety of different topics in the NFP space. Director ID numbers, ACNC news and financial reporting insights are all included in this edition of the NFP newsletter. Click this link to read more.    Read more

Important Things to Know about an Estate Plan

If putting together your estate plan isn’t at the top of your priority list, you’re not alone. It’s something that people typically don’t want to do–for a variety of reasons. It’s not fun to think about what happens after we’re gone, and we often believe we have a lot of time to get our affairs in order. No matter how large or small your estate is, you need a plan…  Read more

The 2022 – 2023 Budget Explainer

The 2022-2023 Federal Budget has just been released and forecasts a strong recovery out of the crisis that has been the last two years. Low unemployment, rising wages growth are expected despite the ongoing pandemic and the war in Ukraine. The government is heading into the election trying to limit rising living costs. As expected there has been a temporary cut to fuel excise and one-off payments for pensioners and…  Read more

4 Tips to Improve Your Business Negotiation Skills

Owning your business requires many skills, and among the most important might be the ability to manage negotiations. As a business owner, you could find yourself negotiating in many circumstances, such as: Salary and job expectations with a potential employee Financing terms with a lender Payment terms with a supplier Lease or property agreements Equipment agreements. Your ability to negotiate will have an impact on your financial situation, which is…  Read more

Main Causes of Stress for Business Owners & How to Counter Them

Many entrepreneurs believe that hard work and dogged determination are all it takes to build and sustain a successful business. But when you consider the pressures of running a company, it seems wise to add effective stress-management to the list. Left unchecked, stress can erode your passion and undermine performance – not to mention, take a serious toll on your health. Research compiled by Office Vibe reveals that over 70%…  Read more

Financial Planning to Ensure Financial Independence for Women

Financial independence is an important goal for many people. It means you have the ability to support yourself financially, without relying on others for assistance. It also means you control your finances because you make your own financial decisions, rather than someone else making them for you. Regardless of who you are, financial independence makes it easier for you to achieve your dreams. It also gives you the peace of…  Read more

Understanding Australia’s Director Identification Number

In its 2020 Budget Digital Business Plan, the Australian government announced the full implementation of the Modernising Business Registers (MBR) program. The program is designed to both establish the new Australian Business Registry Services (ABRS), and enhance how businesses register and manage their information with the government. If a director of an organisation is registered under the Corporations Act fails to apply for a DIN within the applicable time frame,…  Read more

Wealth & Super Matters March 2022

Read more about wealth generation and superannuation matters in this month’s edition of Wealth & Super. We cover some key interest areas such as SMSFs investing in cryptocurrency, driving Uber to boost your income and heaps more. March 2022  Read more

How to: Improve Your Delegation Skills

When you run your own business, it’s tempting to take on every responsibility. There are many reasons for doing so: because you want something done a specific way, because you don’t have the time to explain how to do it, or because you’re not sure someone else can handle the task. Delegating saves you valuable time and energy. Sharing duties with your team also fosters a sense of responsibility, engages…  Read more

How to: Keep Your Employees Happy

Traditionally, employers have relied on giving employees raises as a way to retain their staff and reward them for being hard-working and loyal. Raises can get expensive, and there is often an upper limit for what you can offer when it comes to increasing salaries and wages. Keeping your employees happy makes business sense. You want to keep your good employees, and it costs money to find, hire and train…  Read more

New Jobs Data, Industry Support Packages and International Travel

Borders to Reopen to International Travel The borders will be reopened to vaccinated tourists and other visa holders from 21 February. Unvaccinated travellers who have a medical reason for not getting inoculated will need to apply for a travel exemption and will be required to quarantine at a hotel. Safe Transition Industry Support Package The WA Government has launched a $77 million Safe Transition Industry Support Package to assist eligible…  Read more

Differences Between an Accountant and a Financial Planner

When it comes to managing your finances, there are two professions that can help you understand your numbers, and ensure you have a plan to get to where you want to be. Accountants and financial planners can both play an important role in your financial success, but there are some important differences between the two. For any successful business, it’s advisable to have both an accountant and a financial planner…  Read more

Setting and Achieving Financial Goals

Financial security, whether that’s for a business or an individual, requires planning. You need to know where you want to be, where you are now, and how to cross the gap between the two places. Having goals and a plan makes it more likely that you’ll achieve financial security–whatever that means to you. Here are some steps to setting your financial goals. 1. Be specific with what you want It’s…  Read more

NFP Newsletter January 2022

This issue of the NFP newsletter covers a range of topics. Be sure to click the link below to read more about the NSW government’s inquiry into the use of poker machines for money laundering, all the latest ACNC news and how you can help NFPs with best-practice. Click here to read more Issue 31 – JAN 2022  Read more

E-invoicing: A Huge Cashflow Win for Australian Businesses

The Australian government has made some important announcements over the past few months with regard to e-invoicing. In the 2021-22 Budget, the government committed $15.3 million to increase the adoption of e-invoicing, which guarantees accelerated payment terms and low cost invoicing. In this article, we will look deeper into what e-invoicing is and how any type of business can benefit from it. What is e-invoicing? Over 1.2 billion Business to…  Read more

End of Year Update 2021

In the 2021 end of year update, we’re wrapping things up with an interesting issue including the tax sting of changing jobs, how to prepare your business for the holiday season, how to take advantage of Christmas marketing and contributing to your super fund! EOYU-2021  Read more

Can Christmas Parties be Tax Deductible?

While your business may not necessarily be planning an extravagant bash after the events of this year, a Christmas party may be on the menu for your hard-working employees. Planning out your Christmas party in a COVID-safe manner with a little knowledge of the tax deductions you might be able to claim back can make the giving a little sweeter this year. The Venue You can take advantage of the…  Read more

Top 3 Tips For Your Holiday Business Marketing

While marketing is important throughout the year, the holidays bring with it a trove of opportunities for small businesses to get their content in front of their clients. It’s a guarantee that your customers will be out to buy. The hard part is making sure they buy from you. Creative marketing is crucial to ensure that your business stands out from your competitors. That doesn’t mean that the budget needs…  Read more

New Travel Bubbles, Google’s Big Aussie Investment and Director Identification Numbers

This week was another busy week in business with plenty of Australian and international news. Read on for the latest updates about new travel bubbles, Google’s latest investment and Director Identification Numbers. Australia Hits 90% Single-Dose Mark Australia has hit a new milestone, with 90% of those who are 16 years old and above having received at least one dose of a COVID-19 vaccine. This makes every state and territory…  Read more

Is your home loan protected?

Buying a property is a big investment. It’s often one of the most important investments people make in their lives. When it comes to getting a mortgage, many buyers focus solely on the immediate steps they have to take and fail to consider the right protections. This week’s article breaks down some key types of mortgage insurance and answers the question, do you really need insurance for your mortgage? What…  Read more

Lockdown Lifted, Changes to Disaster Payments and Support for Apprentices

Spending Increases as Lockdowns are Lifted As COVID-19 restrictions ease across the country, spending tracked 20% higher than the corresponding week of 2019, according to the weekly credit and debit card spending data from the Commonwealth Bank. National spending is on track to hit the growth levels seen earlier in 2021, which averaged at 22% above pre-pandemic figures in late April and early May 2019. Job ads increase 6.2% in…  Read more

NFP Advisor Issue 30 – October 2021

This quarter’s NFP newsletter is another jam-packed edition covering off all the news in the NFP space. Read now about Australian Director Identification Numbers, Red-tape Reductions, Deductible Gift Recipients and all the latest ACNC activities. Click here to read NFP Advisor Issue 30 – October 2021  Get in contact with us to discuss NFP or any of your other business advisory queries.  Read more

Where did all the money go?

Busting the top 5 myths about sorting your finances Wondering where all your money goes is common: no matter how much you earn, it seems like there’s never enough and it just seems to vanish. Research shows that 86% of Australian’s do not know where their money goes each month[1]. So, if this sounds familiar, you’re not alone. It can be an overwhelming feeling, often not knowing where to start.…  Read more

Compensation Payments, Home as a Place of Business, Christmas & the Taxman

In this month’s edition of Tax & Super, we take a look at a few different topics in the space of Tax and Super. This month’s newsletter is a busy one! Including, compensation payments, the home as a place of business, inheriting rental properties jointly, SuperStream deadline fast approaching, Christmas & the Taxman. Don’t miss out on this jam-packed newsletter. Read more by clicking this link  Read more

4 Things to Consider Before Expanding Your Service Offerings

If you’re looking to grow your business, you might consider expanding your service offerings. Adding additional services is a good way to increase your profitability, diversify your income and expand your market. But there are important things to consider before adding to your income streams. Here are 4 important things to keep in mind when you consider adding to your services. 1. Does the expansion complement your business? The best…  Read more

3 Tips for Working Smarter and Gaining Personal Time

You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time. Too many business owners think they must keep working harder—taking on more responsibilities and working longer hours—to be successful. It makes sense, because you’re responsible for your business, but that route leads to work overload and…  Read more

Super Matters – September 2021 edition

The September edition of Super Matters is available for you to read on our website. This issue has the following topics covered. Using your Super for an Investment Property – Is it worth it? Case study – How to avoid paying additional Tax on Super SMSFs breaking the rules – Penalties and Punishments New rules in place for SMSF Auditors The Super Matters newsletter is available here to read. If…  Read more

How Much Cash Does My Business Need?

Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. There is no single factor that determines how much cash every business needs to have on hand. Somewhere between 3-6 months of operating expenses is…  Read more

How to Scale Your Business with Minimal Effort

If you want your business to grow, at some point you’ll have to think about scaling it. Scaling it isn’t exactly the same as growing it, though they are often used interchangeably. Growth refers to adding resources and increasing your revenue in a linear fashion. You double your number of offices to double your number of customers, for example. Scaling means increasing your revenue without a substantial increase in the…  Read more

Flourishing vs Languishing, Super Insurance and Aged Care – Spring Edition

This season’s edition of the Collins and Co wealth management newsletter is packed full of news and interesting wealth management topics that we’re sure you’ll love. We cover the latest news in the wealth creation space, aged care payment options, superannuation insurance and flourishing vs languishing mentality. Read more: Flourishing vs Languising, Superannuation insurance and Aged Care Payments  Read more

Tax & Super Newsletter – Sept 2021 Edition

Working away from home, the ins and outs of being between homes and more SMSF news. This month’s tax and superannuation newsletter is brimming with information about emerging risks in SMSFs, changes to travel costs for those working on the road and buying a new home before selling the old one. Read more in this link. On the road again, being between homes and emerging risks in SMSFs.  Read more

Succession Planning: A will for your business

“Good things don’t last forever” The unfortunate reality is most business owners don’t take proper holidays. Usually, this is because their business relies on them and they don’t have the support to keep the business running without them. As a business owner, have you ever considered what would happen to the business if you had to take a six months break because of a serious illness or injury? Would the…  Read more

5 Funding Options for Start-ups

Starting your own business requires enough capital to ensure you can pay your bills until your company turns a profit. Depending on the type and size of your business, you may need thousands of dollars monthly to cover overhead. If you’re wondering where to find business start-up funding, there are a variety of options available to you. Each of these options has its advantages and disadvantages, and it’s important to…  Read more

Tax Matters – August 2021 Edition

The winter edition of Tax Matters is now available for you to read. Cryptocurrency is a hot topic at the moment. The ATO treats any profit made from cryptocurrency as either capital gains or income. Please read for further information. In this edition, we discuss the following topics. Tax Consequences of Cryptocurrency Record keeping tips for your next tax return What to avoid doing when making a car-related tax deduction…  Read more

4 Ways Small Start-ups Can Take On Established Competitors

Starting a business means you’ll be in competition with other companies that already exist. It’s actually a good thing if you have competition to go up against. Competition pushes you to be innovative. It also means there’s an established market for your goods or services. The key to benefitting from competition is knowing how to effectively take on competitors so your company earns a profit. Here are some ways to…  Read more

Business Update – 25 August 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Australia Closes One-Way Travel Bubble from NZ Australia has paused “green zone”…  Read more

5 Ways to Recover After a Financial Setback

You started your business with plans of earning a living and being successful, but an unfortunate fact of business life is that companies suffer financial hardships. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are negatively affected and it’s up to you to lead the recovery. Here are 5 steps you can take to help your business recover after…  Read more

Collins & Co Business Update – 18 August 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Tougher COVID-19 Restrictions in Melbourne New stricter COVID-19 restrictions came into effect…  Read more

4 Money Saving Tips for Business Owners

Running a successful business requires you to make smart decisions about everything from who you hire to how you spend your money. There are many legitimate expenses to cover, but it’s easy to overspend in areas that aren’t helping you or your business. Spending wisely is key to owning a sustainable business. Here are four practical money saving tips for business owners. 1. Have a list of all your subscriptions,…  Read more

CCWM August 2021 Newsletter

It’s August, and this chilly winter and periodic lockdowns can’t end fast enough for many of us. One bright spot, along with the golden wattle at this time of year, is the golden performance of our athletes in Tokyo. After a shaky start, last financial year was an excellent year for investors. Returns from shares and property exceeded most expectations, as did returns from super funds. But amidst all the…  Read more

What lockdown support is available to Victorian business?

Support is available if you are impacted by the Victorian lockdowns. A series of grants and top-up grants are available to support Victorian business. There are two main streams for grants in Victoria: New grants – Grants or grant extensions for businesses that previously did not qualify or did not access the available grants: Licensed Hospitality Venue Fund 2021 July Extension Business Costs Assistance Program Round Two July Extension Small…  Read more

Tax & Super – August 2021 edition

What the new Your Future, Your Super means for you Recent legislative reforms to the superannuation arena are set to change the retirement savings landscape for many Australians. Capital works deductions for rental property Rental property investors can claim capital works deductions for construction costs for a rental property, however there are limits imposed in relation to the dates such works were completed. The deductions are only available on residential…  Read more

NFP Advisor Issue 29 – August 2021 edition

The Not for Profit Advisor newsletter has just been released. The topics include Governance, Compliance, Fraud and Financial Reporting. In this issue, you will find information on the following. Governance institute releases guidance on Board papers New guide on AGMS Fewer fees for Directors Three institutions fail to join NRS Victoria Pioneers Wage – Theft laws Governance Standard strengthened Know the Charity sector and more……… All of these categories and…  Read more

Why Smart Business Owners Never Stop Marketing

One classic mistake business owners make when money gets tight is to stop marketing or cut their marketing budget. At first glance, it seems logical to cut down your expenses during tough economic conditions. However, in reality, it’s the opposite of what you should do. When your business is struggling, cutting your marketing budget will further hurt your business. It is during this time that you should go the extra…  Read more

Business Matters – Winter 2021 Edition

Our quarterly Business Matters edition is out now for your perusal. In this issue we cover the following topics. New Support Payments for workers affected by COVID-19 Lockdowns Managing Employees working from home Worker shortage to drive potential wage increase Superannuation Guarantee Rate Increase Are you in the right business structure Succession Planning and your family business. The publication is for guidance only and is available here. Should you seek…  Read more

How to Build an Effective Financial Plan for Your Business

Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although many business owners are aware that financial planning is important, it is often overlooked. Without a…  Read more

Cash Flow Advice for Small Businesses

Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management is a major concern for them. Cash flow refers to the movement of money into…  Read more

Lodgement Rates & Thresholds – July 2021

To save you having to laboriously search for the right tax rate or relevant threshold, the essential information is right here in one place. This guide includes tax rates, including individual minor and non-resident rates, corporate rates, offset limits and benchmarks, rebate levels, allowances, and essential super as well as FBT rates and thresholds. There is also essential medicare information and foreign currency exchanged information. All of this can be…  Read more

Tax Implications of Cryptocurrency (AU)

With cryptocurrencies gaining notoriety, many people are unclear on how or when they can be taxed. Despite widespread belief to the contrary, you can be taxed on gains made as a result of obtaining or using cryptocurrency. If you’ve made a profit from trading cryptocurrency, for example, you need to declare it at tax time. Here is some important information on cryptocurrencies and their implications for your taxes. How cryptocurrency…  Read more

CCWM July 2021 Newsletter

It’s July, there’s a nip in the air and winter has well and truly set in, as Australia deals with COVID outbreaks across several states. But July also marks the start of the new financial year, a good time to reflect on how far we have come since this time last year and to make plans for the year ahead. Share markets had a strong finish to the financial year,…  Read more

Tax & Super – July 2021 Edition

We know you want to get your tax right, so it may help to know how to avoid making what the ATO has found are the most common mistakes. In the July edition of Tax & Super, you will see these tips along with the following topics. Getting deductions for clothing and laundry expenses right Steps to take when winding up your SMSF When the taxman sends a bill, not…  Read more

Introducing Alysia West as our newest Partner to Collins & Co

It is with great pleasure we introduce Alysia West as our newest Partner to Collins & Co Managing Partner of Collins & Co, Paul Kelly said “Alysia exemplifies the level of service and commitment that many of our clients have become accustomed to with the necessary empathy and values that are upheld at Collins & Co. With the introduction of Alysia to the Partnership our leadership team continues to consolidate…  Read more

Managing Field Workers in Your Construction Business

It’s one thing to manage workers when they’re all in the same place at the same time. However, when you run a construction business with field workers, things can get a lot more challenging. Not only are you typically not on the same job site as them, you might also have workers scattered over a variety of sites and projects. Managing them doesn’t just mean scheduling them and making sure…  Read more

3 Reasons Why Business Partners Break Up and How to Prevent Them

For many business owners, partnerships are an ideal way to run a business. Operating a business with a partner means you don’t have to make all the decisions on your own. It means you have someone there with you, to help you carry the burden and share ideas with. That can be a great thing, when it lasts. Unfortunately, many business partnerships fail. Although they fail for a variety of…  Read more

CCWM June 2021 Newsletter

It’s June which means winters has officially arrived. As we rug up and spend more time indoors, it’s a perfect time to get your financial house in order as another financial year draws to a close. And what a year it has been! Our 2021 Winter edition of Collins Co Wealth Management newsletters is available for your perusal. It will contain the following items of interest. Home office expenses Top…  Read more

Super Matters – June 2021 edition

Welcome to the June 2021 edition of Super Matters. In this edition we will cover the following titles. Downsizer Contributions into your SMSF Corporate v Individual Trustee Addressing the Super Gender Gap Do you have ATO-Held Super The newsletter can be found here.  Read more

Tax & Super – June 2021 edition

The June edition of Tax & Super is available for you to read. In this edition we will be covering the following topics. The tax treatment of cryptocurrency New guidance on “personal services income” rules Briefing a barrister The ATO’s eligibility requirements for SMSF trustees or directors The newsletter is available here. As always if you have any questions, do hesitate to reach out to us on 03 9680 1000.  Read more

NFP Advisor Issue 28 – May 2021

The Not for Profit Advisor newsletter has just been released. In this issue, you will find information on the following. Aged Care: Elderly to come first Increasing Financial reporting thresholds for ACNC Registered Charities Charity Activity Bans Broadened Steps towards minimising fraud New guidance on whistleblowing Breakthru back-pays more that 2.7m AAT Upholds ACNC ruling All of these categories and more can be found here.  Read more

Tax & Super – Special Budget Edition 2021-22

The Government has decided not to go down the austerity path, which will be a relief for many taxpayers and businesses. In this release of Tax & Super, we provide a special budget edition. It includes the following items: Superannuation and Related Measures Housing Business Welfare Individuals You can find out more here.  Read more

CCWM Federal Budget 2021-22 Analysis

Treasurer Josh Frydenberg’s second pandemic Budget, and possibly his last before the next federal election, is a big spending Budget aimed squarely at a swift economic recovery. As widely tipped, the focus is on jobs, aged care, childcare, women and first -home buyers with some superannuation and tax sweeteners added for good measure. As always, if you would like to discuss how the Budget might impact your finances, don’t hesitate…  Read more

Tax Matters – May Budget edition 2021

The Federal Budget for 2021-2022 was announced last night. This guide provides you with the following information The Budget 2021-22 – A Continued Win for Small Business The Federal Budget – Tax Measures The Federal Budget – Superannuation Changes Continuing the SME Recovery Loan Scheme JobKeeper Overpayments Family Assistance Payments and more……….. Please click here to read the Tax Matters guide. As always, if you need further clarification, please do…  Read more

Tax & Super – May 2021 edition

Welcome to the May edition of Tax & Super. This is your monthly tax and super update keeping you on top of the issues, news and changes you need to know. In this edition we will be covering the following topics. EOFY tips for your tax plan Dealing with excess before-tax super contributions The SME Recovery Loan Scheme is now open Evidencing SMSF property valuations Independent audit review for small…  Read more

Business Matters – Autumn 2021 edition

The Autumn edition of Business Matters is now available for your perusal. This edition covers topics as listed below. JobKeeper is over – where to from here Fringe Benefits Tax Time The Importance of Business Planning Contractor Agreements – the case of Dr Moffet And more……. Click on the link Business Matters Autumn 2021 to read in detail.  Read more

Year End Strategies for 2020-2021

The Year End Strategies tax guide for 2020-2021 guide is now available. In this edition we will cover the following topics. Significant Changes to Instant Asset Write-off 2021 End of Financial Year Checklist Gains or losses from Cryptocurrency Tax  Tips for Property Investors and more…… The guide can be read here. Feel free to contact us if you have any questions.  Read more

Collinsco Wealth Management – April 2021 Newsletter

April begun with a welcome Easter break. As the vaccine roll-out continues, restrictions ease, and life is a little closer to normal despite occasional setbacks. It’s not often that boring bonds make headlines, but they have lately due to a sharp rise in interest rates. In this snapshot, we discuss what rising bond rates tell us about market expectations around economic growth and inflation. We also look at the possible…  Read more

Collins & Co Super Matters – Autumn 2021

The new edition of Super Matters is now available. Topics include the following: Changes to contribution and pension caps; The work test; What is “Retirement”; Super versus Home Loan You will find all of the information in this link Super Matters Autumn 2021  Read more

CollinsCo Wealth Management Newsletter – February

It’s February, the kids are back at school and the nation is getting back to business. It’s still not business as usual, but with the vaccine rollout about to begin there is a growing sense of optimism. There has been a lot of debate in recent years about self-managed super funds (SMSFs) and how much you need to have in them to make them cost-effective. So in this month’s snapshot,…  Read more

Client Information Newsletter – November

What the “full expensing” write off deduction means for business The Federal Budget measure of allowing businesses to fully write-off eligible assets is a boon to Australian businesses, even though the measure is temporary. Click here to read the newsletter  Read more

JobKeeper – Easing Eligibility

As the impact of the Coronavirus on our daily lives and livelihoods rapidly evolves, below are the latest measures released by the Government to reduce both the impact to the nations health, economy, household and business finances. More businesses and not-for-profits will be eligible for JobKeeper payment extension under a $15.6 billion change to the scheme announced on August 7. The Government initially outlined the JobKeeper extension guidelines on July…  Read more

CollinsCo Wealth Management Newsletter – June

Winter 2020 Winter is here and we are almost at the end of another financial year. And what a year it’s been! With so many Australians impacted by fires, floods, drought and now COVID-19, let’s hope the new financial year sees a return to something like normality. As Australians head back to work and school thoughts are turning to rebooting the economy, so we survey the road to recovery as the first article in our Winter newsletter.…  Read more

Client Information Newsletter – June 2020

Last-minute tax planning tactics This financial year is almost over, but there are still effective strategies you may be able to employ to make sure you pay the right amount of tax for the 2019-20 year and maximise any refund entitlement. This is still, if not more so, the case in the current COVID-19 environment. Click here to read the newsletter  Read more

Client Information Newsletter – May

Answers to COVID-19 work-from home expense questions and CGT concerns There are many questions being asked lately about claiming expenses when forced to work from home over the COVID-19 period, plus a lot of concern about any consequent capital gains issues when later selling a property from which people have been coerced to work from during this time. What we cover in this issue: Work-from Home Expense and CGT Concerns…  Read more

CollinsCo Wealth Management Newsletter – May

Welcome to our May publication. After an extraordinary month of social and economic hibernation, there are positive signs that some of the restrictions on our everyday lives will soon be loosened somewhat. This is welcome news for households, businesses and our economy. Within a matter of months Australia has gone from having an essentially healthy economy to one in need of resuscitation. The Morrison Government has stepped in with unprecedented…  Read more

Improving cash flow: How to get paid faster

Maintaining positive cash flow can be challenging for small businesses, whether you’re just starting out or have been running your company for years. The difficulty often comes down to waiting for clients to pay their invoices. One or two chronic late payers cost valuable time and money when you have to chase them down; if reliable clients also fall behind one month, the result can be devastating. These tips will…  Read more

Tax tips for new business owners

Want to avoid paying more than you should come tax time? Or a frantic last minute search for missing financial records? New business owners have a lot on their plate, and can easily lose track of an approaching tax deadline or financial data needed to submit their return. Organization is key when preparing for tax time. As is taking advantage of the many tools and resources out there to support…  Read more

What is your succession plan?

According to recent research, a staggering two thirds of US millionaire-owned businesses are operating without a succession plan—and even fewer small business owners around the globe are prepared for their CEO’s eventual exit. Recent stats from PWC Global show that family owned businesses are no more prepared: 43% don’t have a succession plan in place, and only 12% survive to the third generation. No matter whether your company has one…  Read more

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