The 12 Month Advisory Roadmap: How Successful Business Owners Plan in Quarters Most business owners don’t have a planning problem. They have a timing problem. At Walsh Accountants, what we see far too often, is critical decisions being made too late, with incomplete information, and under unnecessary pressure. Tax strategies are rushed in June, structure reviews are […]
READ MOREInvest in Your Business Now — or Accept a Bigger Discount at Exit
Exit strategy tools to improve business valuation and reduce buyer risk. At some stage, every business owner will exit their business, whether it’s planned or not. The question isn’t if. It’s whether you get paid what the business is actually worth. And here’s the uncomfortable truth: Buyers don’t pay for unrealised potential. They discount it. Significantly. […]
READ MOREGift or Tax Liability? How to Avoid the Gift Tax Trap
When is a gift not a gift? The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan from friends. The case of Rusanova and Commissioner of Taxation is enough for a telemovie. The plot features an Australian resident Russian couple […]
READ MOREIdentifying Growth Opportunities: A Strategic Growth Matrix
In today’s competitive landscape, businesses must continuously seek new avenues for growth. One effective way to identify these opportunities is by using a Growth Matrix. This tool helps businesses analyse their products and markets, guiding strategic decision-making and fostering sustainable expansion. The Growth Matrix Explained The Growth Matrix typically consists of four key quadrants that […]
READ MOREInflation’s Impact on Business: Why Budgeting and Cashflow Matter
Inflation, the rate at which the general level of prices for goods and services rises, eroding purchasing power, is a critical economic factor that affects businesses worldwide. In Australia, recent inflation trends have posed significant challenges for businesses, making it imperative for business owners to understand its impact and implement effective financial strategies. This article […]
READ MORESmall Business Energy Incentive
The 20K Small Business Energy Incentive isn’t just another policy – it’s a game changer. What’s the buzz about? Picture this: you’re a small business owner with an aggregated turnover under $50 million. You’re eyeing a future where energy efficiency reigns supreme, and fossil fuels take a backseat. That’s precisely where the Small Business Energy […]
READ MOREMaximising Your Tax Benefits: Ultimate Guide to the $20,000 Instant Asset Write-Off for Gold Coast Small Businesses
Small businesses serve as the engines of innovation and economic vitality. To empower these enterprises, the Australian government will continue to allow businesses to take advantage of the $20,000 instant asset write-off scheme. This article is your go-to guide for understanding this tax relief program and how it benefits small businesses across the country. Understanding […]
READ MORENavigating Salary Sacrifice: Essential Insights for Employers
Salary sacrificing, a strategic manoeuvre within the realm of employment benefits, serves as an arrangement between employers and employees. This arrangement allows employees to relinquish a portion of their pre-tax salary in exchange for comparable benefits, amplifying their overall compensation package. Let’s delve into the intricacies of salary sacrificing, exploring its mechanics, effective setups, and […]
READ MOREUnlocking Tax Savings: FBT Exemption on Electric Vehicles
In today’s business environment, sustainability and cost-efficiency go hand in hand. Electric vehicles (EVs) offer a promising solution, not only for reducing carbon emissions but also for minimising tax burdens. One such advantage lies in the exemption from Fringe Benefits Tax (FBT) on electric vehicles. Let’s explore how businesses and employees can leverage this tax […]
READ MOREUnderstanding the Implications and Opportunities of the 1 July Super Cap Increase
From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change. The amount you can contribute to superannuation will increase on 1 July 2024 from $27,500 to $30,000 for concessional super contributions and from $110,000 to $120,000 for non-concessional contributions. The contribution caps […]
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