29 March 2021
Sometimes you might make an investment hoping that it will give you positive returns and instead encounter a non-favourable marketplace. For example, if you buy a rental house expecting that you will be paying a particular amount in mortgage, and the rent you receive for it falls below the mortgage payment, you have a negative gearing problem. Many people have a hard time accepting that they are facing the issue, and in the process of trying to rectify the imbalance, they lose business.
7 December 2018
As Christmas time rolls around, it is traditional to give gifts and to celebrate in style. As an employer, it is also traditional to throw a party for your staff, but you will always want to keep an eye on your expenditure if you do so, as otherwise these things can get out of control. You may understand that gifts, bonuses and parties may be just the cost of doing business at this time of year, but you may also want to capitalise on any tax breaks you can get to make it a little easier from a financial perspective.
30 November 2016
One of the largest financial obligations many small businesses have, after their wages, is obligations to the Australian Tax Office (ATO). The ATO will often wait quite a while before commencing legal proceedings to chase owed funds compared to other debtors such as suppliers. Here are some tips to help you keep on top of your tax obligations and avoid bankruptcy. Have self-management Get your bookkeeper to run a reconciliation and let you know how much money you owe for the employees PAY-G (pay as you go) tax, superannuation payments and GST (goods and services tax) obligations.
30 June 2016
If you are thinking about buying rental property, you might only be concerned about current renovations and the budget you have to work with. However, there are quite a few other things to think about shortly after you purchase the property. You Need a Lawyer One of the first things to do when you buy rental property is to get a lawyer. Any time a legal issue comes up, you already want to have a lawyer to turn to and prepare paperwork and deal with the court so you don't have to.
19 June 2015
As a contractor, you likely have a number of projects going on at once. This means you have budgets that you must maintain, schedules you must adhere to, and even some expenses that you can't take on. All of these issues can be handled by your administrative staff, but they likely are loaded down with payroll and other daily-operating issues. Before you put even more stress on your staff, consider using a quantity surveyor based on the following services that can bring to every construction project: