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Keeping on top of small business cash flow

Why are people losing sight of cash flow? Everyone knows a business needs to stay in the black. It’s not a new idea. So it can be hard to imagine why a business would lose sight of cash flow. Until you’re in business yourself and you realise tracking small business cash flow isn’t as easy as it seems. For small businesses, this can involve: Keeping track of all your expense receipts – which gets really tricky if …

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Thinking investment property, what do you consider?

Keen to get into the property market as an investor? Before you start looking, you need to understand that what you’re looking for in a house, that you would occupy, might be different from an investment property. When you’re hunting for an investment property, rather than looking for features specific to your needs; like commute times or how much you like the kitchen, you’re going to be thinking about the rental yield of the property and whether …

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the SMSF Myth or Mission

Is a Self Managed Super Fund (SMSF) right for you? Or Maybe you already have a SMSF but want to make it work harder for you? More than a Million Australians run their own SMSF. But the small business clients talk and the news media is in a frenzy about SMSF’s and property investments. We understand that SMSF’s don’t suit everyone, so it’s important you get the right information to decide for yourself and discuss with an …

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Review and rectify any outstanding compliance issues

Most of all Talk to us is you need help or worried about it and how to rectify it? If your auditor has highlighted any breaches or issues in previous year fund audits, you should review and rectify these issues by 30 June. SMSF compliance is taken very seriously by the Australian Taxation Office (ATO) and they have a number of powers to address non-compliance: Education directions – require the trustee/director to complete an ATO approved education course …

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What is a downsizer super contribution?

The downsizer super contribution rules introduced by the Government were one of a number of measures introduced to help reduce pressure on housing affordability. But it can also help people top up their ability to live more comfortably and affordably. From 1 July 2018, individuals over 65 years of age may be eligible to contribute to super up to $300,000 from the proceeds of selling their home. Keep in mind that this only applies to contracts of …

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The ATO needs to know MORE about your SMSF

The ATO is constantly changing various aspects about what you need to disclose and 2018 is no different. When you lodge this year you need to report more data than ever and ensure your SMSF is in top shape going forward. From the 1st July 2017 superannuation reforms introduced a new reporting regime for funds. Funds now need to advise the ATO of key events within the fund that impact on retirement income streams (pensions): When you start a pension …

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