Why every business needs a buy-sell agreement
There is a lot of upside to being in business with someone else – companionship, shared risk and access to complementary skills and greater resources, to name a few. However, if you have a partner or co-owner, it is important to protect yourself against the unexpected – what we call the ‘Seven Ds’: Death, Disability, […]
5 practical reasons you need ‘Terms & Conditions’ in place before you trade
You think you know what’s expected of you. Your customer thinks they know what they’re getting. But who’s right? If you don’t have ‘Terms & Conditions’ in place, chances are you’re both mistaken. Avoid the argument and take the time now to put clear Terms & Conditions in place before you start trading.
Ensuring Compliance: A Checklist for Accountants Handling Statutory Demands
Many companies nominate their accountant’s address as the registered address for their business. This article highlights the danger to a company of not being able to adequately supervise the registered office and the importance of accountants having a system in place for notifying clients of statutory demands. In a recent case, West Homes Australia [2023] […]
5-steps to unlock faster payments from your clients
5-steps to quicker payments from clients.
Breaking the law en masse is not innovative or disruptive. It’s cheating.
If you had sat me down 5-10 years ago and asked me the top 5 things I would like to change about the taxi industry, within about 20 minutes of brainstorming I would have nailed all 5 of the ‘innovations’ that Uber has implemented. It’s all the rage to bag Uber right now, and that is not my point. I am bagging the people who think that Uber was innovative, or disruptive. Uber, as a business model, was simply to break the law en masse. Plain and simple.
Payroll Tax Amnesty for Medical Practices in South Australia
Payroll tax applies when the total wages expense for a business equals or exceeds $1.5 million in a financial year. Medical clinics in South Australia have not previously been paying payroll tax for payments made to General Practitioners (GPs) who provide services to those clinics. However, recent case law and rulings have changed that. However, […]
Andrew Andreyev chats with Tax Talks about Property Development 101
How would you structure a property development project for tax purposes? Not that you would ever structure something just for tax. Of course tax is just one factor of many you need to consider. In this episode let’s look at the basics. What types of developers are there and what are their tax needs? Should […]
Andrew Andreyev chats with Tax Talks about Asset Protection Silos
How should you structure a multi-project business for asset protection? Let’s say you are a builder with several construction projects. Or in hospitality with several restaurants and cafes. Or a retail chain with various locations. Or in agriculture with several enterprises. How should you structure your business so that creditors from one project or site […]
Andrew Andreyev chats with Tax Talks about asset protection layers
How can you protect your personal assets from creditors, the ATO and so on? How can you reduce the risk? Andrew Andreyev will tell you how and discuss the five layers of asset protection with you. You can listen to our insights here or below. You can read more about Tax Talks here. The information […]
Solution Brief: ‘Terms of Supply’ and the PPSA regime
Do you provide credit to your customers? If so, you need to understand the full implications of the Personal Property Securities Act. If you do not, you risk losing title to your goods. Hopefully you have written ‘Terms of Supply’ with your customers. Hopefully you also have a well drafted ‘retention of title’ clause in […]