Summer is just around the corner, and with it comes the exciting prospect of a well-deserved holiday. Many of us are now busily making travel plans, and many property owners are planning for travellers! Leasing a room or …
ReadHot news this week in the business world is the increasing popularity of franchises. Millennials, in particular, are snapping them up, as an alternative to the unsettled job market. It makes a lot of sense; in effect, you’re …
ReadWhen we first start out, we generally employ people as Casuals. It is the easiest relationship really. We just put them on and pay them for the hours worked. Simple exercise really. But it is not necessarily the …
ReadThinking of buying into the hospitality industry? Then you’ll be pleased to read the results from this year’s Bankwest Future of Business: Focus on Hospitality Report. The report gives a useful overview of what’s happening in the industry …
ReadThe Australian Taxation Office (ATO) conducted a small business engagement research last April that found tax accountants continue to play an important role in supporting small businesses. Across the country, accountants were the preferred source of tax and …
ReadTo help reduce payroll tax and to create better transparency, the Victorian government will start a new standardised method of calculating the value of startup companies and their shares. This new method will adopt a so-called “safe harbour” …
ReadChan & Naylor Accountants in Hawthorn warn their clients about a new scam in a form of an email, asking business name registry customers to provide their personal information and pay fees to renew their business name. These …
ReadFrom the 1st of July, business owners with 20 or more employees will be required to report to the ATO all payments such as salaries, wages and Pay as you Go withholding and superannuation from payroll solution each …
ReadFrom the perspective of somebody who sells businesses every day, three little words are responsible for more businesses NOT selling than anything else: “It’s got potential”. Though buyers look for potential, they hardly ever pay for it. ‘Potential’ …
ReadYesterday, yet again, I have met with a Business Owner who hired a Business Coach to assist them with their Exit Strategy only to find the business is no better off i.e. no closer to being exit-ready 12 …
ReadSmall businesses can change their legal structures without incurring income tax liability because of the small business restructure rollover. Small businesses have different reasons why they would want to restructure their business: some want to minimise tax and …
ReadBusinesses that have an annual turnover of $10 million or less will have less tax to pay on their 2016-17 income tax return, according to business accountant Chan & Naylor. The Australian Taxation Office has lowered the company …
ReadScott Morrison focused on creating jobs, tax relief and hospital funding this year. Here are some of the pleasant and unpleasant Budget measures included in the Federal Budget 2018: WINNERS First, many will rejoice that over 10 million …
ReadBeware of a sleeper issue regarding an employer’s superannuation guarantee obligations, it has been assumed that employers are unaware of the interest they owe because of missed payments. The ATO has been providing an administrative concession to super …
ReadWe, Chan & Naylor Business Accountants in Sydney, are now advising our clients involved in the cleaning and courier industries to prepare for their obligations for the proposed Taxable Payments Annual Reporting or TPAR. The Treasury Laws Amendment …
ReadIt is as if the value of a business is the worlds biggest kept secret. Business owners can spend all their business life (in many cases decades) and not really know the real value of their business. By …
ReadThe goods and service tax (GST) applies to low value goods bought online from overseas vendors but Australia Post is still arguing with online retailers over whose responsibility it is to collect the cash starting 1 July 2018. …
ReadScammers have been pretending to be ASIC, contacting customers and asking them to pay fees or give their personal information. The emails have a link with a fake invoice, which if you click, infects your computer with a …
ReadDo you know the right Australian business structure to start your business? It is important to get it right from the beginning. Most of the small business owners use one of the 4 common structures in Australia i.e. …
ReadHere are the three questions you’ll be asked when you sell your business, that if you don’t have the right answer to, could cost you big. By the time most business owners decide to sell, it will be …
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