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

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