The Best Investment Anyone Can Make: 3 High-Yielding Investments In Yourself
An investment in yourself is one that will make massive positive returns for you, your family and your business. Whether it’s investing time in learning a new skill, or putting money to hiring a coach, it’s important to re-think the practice of investing in yourself in terms of returns and how it will help you […]
ATO Updates for June
5 June Lodge tax return for all entities with a lodgment due date of 15 May 2021 if the tax return is not required earlier and both of the following criteria are met: non-taxable or a credit assessment in latest year lodged non-taxable or receiving a credit assessment in the current year. Note: This includes companies and […]
ATO Updates for May
15 May Lodge 2020 tax returns for all entities that did not have to lodge earlier (including all remaining consolidated groups), and are not eligible for the 5 June concession. Due date for companies and super funds to pay if required. Note: Individuals and trusts in this category pay as advised on their notice of assessment. 28 May […]
What the Federal Budget 2021-22 Means For You, Your Family & Your Fund
[a story from our partner, Quill Group] Budget Summary The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. Key initiatives include: Extension of temporary full expensing and loss-carry back providing immediate deductions for business investment in […]
What COVID-19 Has Taught Us About the Offshoring Model
Facing rapid market change and regulatory conditions, Aussie financial services firms are partnering with third-party firms more than ever before. Most often, this is an economic decision to remove tedious low-value work from teams who can focus on high-yielding activities, by re-allocating the services to regions with lower pay. Meanwhile, some firms opt to enhance […]
SMSF Investment Strategy: Considerations for Trustees
What’s the Purpose of an SMSF Investment Strategy? An investment strategy for your self-managed super fund (SMSF) is a legal requirement, designed to assist Trustees when making investment decisions for the Fund. The SMSF Investment Strategy must be clearly articulated – the ATO recommends it is written down – to keep members aligned with the […]
The Top 5 Mistakes made on an SMSF: Advice from the Australian Tax Office
The ATO published a list of the most common mistakes made in the accounting process of SMSFs around the country last year. A few of the top five mistakes relate to the SMSF Annual Return (SAR) which is required to be lodged for some SMSFs next month. With recent growth of 15% in SMSF’s for […]
SMSF Auditor Independence Standards – The Tough Decisions for Accounting Firms
In preparation for a tougher clamp down on SMSF Audit Independence Standards as of July 1, many accounting firms face a predicament. Under the updated code, those firms that offer both non assurance and SMSF audit services to their SMSF clients to decide to offer one, or the other. The independence standard also affects those […]
Looking to Build your Value and Extend your Reach? Stop Networking, Look to Your Community, Instead.
Networking! Remember that, when you’d work a room or meet new people face to face at trade shows? It’s a necessary evil for most business owners, account managers, service providers… As things increasingly open up across the country, making it easier to meet groups of new people, I feel it’s time for me to share this […]
6 Tips that Save Money or Spring New Business Growth.
Although the start to 2021 has been a little shaky, hopefully this year will be different to the last 12 months. If you haven’t already, take a look at six key ways in which you can reformat some areas of your financial services firm up to make 2021 your best year yet.