While businesses continue to be at the mercy of unstable supply chains to fulfil orders and remain operating at level of liquidity, managing cash flow has never been so important. A financial statements health check Preparing financial statements will give you an objective insight into the health of your business. Identifying if you have [...]
From November 2021, all current directors and anyone wanting to become a director will need to apply for a Director Identification Number. A Director Identification Number is a unique 15 digit identifier system bringing together the Australian Business Registry with over thirty ASIC Registers, enabling businesses, communities and government agencies to register, manage and [...]
Innovation is one of the pinnacles of good business practice. However, sometimes innovation isn’t a process that can be achieved by one person alone. In business, some of the best ideas and practices that your business might achieve could occur through collaboration. Most businesses will have understood the impact and importance of internal collaboration [...]
Restructure only means a setback to your business, not a closure: what the reforms could mean for your business With the demanding conditions that have plagued the retail industry, business owners need to be aware of all the restructuring options available. The misconceptions of formal restructures The idea of restructuring your business or reaching [...]
Capital gains events can affect the way in which a capital gain or loss is calculated and when it is included in a net capital gain or loss. The type of CGT event that applies to your situation may affect the time of the CGT event’s occurrence, and exactly how to calculate your capital [...]
SaaS companies warrant different approaches to valuation and can be compared with eighteenth century steam engines (seriously). Why do accountants need some knowledge of SaaS companies? If you don’t have these kinds of clients today, you probably will in future. The SaaS business model is now well established. US-listed SaaS companies are now [...]
An additional 10% capital gains tax (CGT) discount may be available when you sell an Australian residential rental property that you used to provide affordable housing. This move will increase the maximum capital gains discount percentage on your sale from 50% up to 60%. For the affordable housing CGT discount purposes, affordable housing is any [...]
Crypto may seem like just another form of money to you, but to the Australian Taxation Office (ATO), it certainly isn’t. From their point of view, cryptocurrency is just another type of asset that people invest in, just like when they invest in shares. The tax treatment is fundamentally the same. If you buy [...]
New R&D tax incentive changes are likely to boost confidence among businesses to make greater commitments to their innovation activities. The changes include new thresholds and a new way to apply. There are three key areas of change from 1 July: Previously, claimable R&D costs were effectively capped at $100 million. From July 1, [...]