Financial advice including wealth creation, insurance and lending services
A fairly common problem that I’m sure retailers have discussed with you, as their accountant, is “Why, if we’re selling so much product, aren’t we making a profit?” Sound familiar? My suggestion on your response to your client is as follows: To answer this question we...
The SMSF sector has continued to develop and change over the past 12 months. Important developments occurring over this time include the reforms to non-concessional contributions tax, and clarification of a number of important issues around the tax treatment of...
The other day, in response to a blog of mine, I received an email from an accountant; he said “I think the sole purpose of a SMSF is to minimize tax. There would not be SMSF’s, if there were no tax advantages”. That got me asking, what is the rationale for...
For most jobs, billing on completion will have a positive impact on cash flow because: The client can see that the invoice relates to the job presented; and The value can generally be reconciled to the job when both are presented at the same time. Compare that to the...
Considering 2014 was the year of the horse according to the Chinese zodiac, the Australian Taxation Office and the other revenue and collection agencies around Australia seemed to have backed 2014 to be a big winner for them. A summary review of last year’s claims...
The FOFA reforms that will apply from 1st July 2016 provide new opportunities, and challenges, for both accountants and financial advisers seeking to develop their SMSF advisory platform. The new limited AFS License will allow accountants and advisers to provide...
Investors are rediscovering the importance of diversification to balance investment risks and take advantage of strong international growth opportunities. After the onslaught of the Global Financial Crisis in 2007-2008, Australian investors turned their back on...
