Nearing the end of the year many self- employed people stop to contemplate the new year ahead. For some 2014 may be the year that they decide to sell their business. Reasons for this decision could include retirement plans, a business transition to the new generation, an underperforming business, ill health or just the need … Continue reading “Selling Your Business – Capital Gains Tax Concessions”

With summer well and truly upon us, many business owners will be spreading the Christmas cheer with staff and clients. With this in mind, it is important to consider the possible tax implications of providing these benefits. Generally the cost associated with having a Christmas party is not deductible. The only exception is where Fringe … Continue reading “Christmas Deductions”

The festive season is upon us and hopefully a good time will be had by all. Inevitably thoughts will then turn to the obligatory New Year’s Resolutions. Whether you consider promising to lose weight, get a better job, or be nicer to your mum, most people make an effort to assess their current situation and … Continue reading “What’s the Plan after Christmas?”

Knowing how much money you can contribute to your superannuation is one of the most important aspects of a retirement savings strategy. With several changes of government and countless shifts in attitudes toward super over the last few years, the situation has only become more confusing. Super contributions are separated into two categories, Concessional Contributions and Non-Concessional Contributions. Another … Continue reading “Contribution Clarity”

A phishing email claiming to be from the ATO is currently circulating. The email claims that the recipient is entitled to a tax refund and states they should click the embedded link and complete the online form. Do not click on the link in the email as it opens a fake webpage that will attempt to obtain … Continue reading “ATO Email Scams”

A change to the reporting requirements for businesses in the building and construction sector became a reality on July 1, 2012. The new ‘Taxable Payments Report’ will require operators to report on certain payments made to contractors. The Tax Office says data from the Taxable Payments Report will improve compliance and detect contractors who have either not … Continue reading “Construction Industry – Reporting Requirements”

Most people understand the basic tax components of income and expenses, however, what some of you may not know is what you are able to specifically claim as a deduction. Here are some helpful tips on some deductions you may not be aware of but are eligible to claim. 1. Laundry – work-related washing, drying, ironing … Continue reading “Deductions – Individual Tax Return”

Besides the family home, superannuation is often the largest asset for most Australians. So choosing the right super solution for you can make a real difference to your retirement lifestyle. One solution enjoying a lot of attention lately is Self-Managed Superannuation. APRA reports that funds held in Self-Managed Superannuation Funds (SMSF’s) now account for almost … Continue reading “Self Managed Superannuation – Taking The Wheel”

Failing to plan is planning to fail, according to the old cliche. But who can I trust and what do I actually need? What exactly is financial planning, or financial advice? How can it help me? These are all valid questions, because the entire financial services industry has been under the spotlight recently, mainly for all … Continue reading “Why do I need Financial Advice?”

I met with a client recently whose business was not going very well. For years the business has not made enough money to justify its existence and it was clear that the owner was worn down and very much over it. The client has been with CNS Partners for only a couple of years but … Continue reading “The Importance Of Regular Review”

Real Estate prices continue to climb in Australian capital cities. This, coupled with a staggering number of reality TV shows, has seen an explosion in home renovations. I was speaking to a client this week who conducted a major renovation less than 5 years ago and is already considering selling because the home no longer … Continue reading “Renovate or Relocate?”

As we get closer to the start of a new calendar year and attempt to take a break over the Christmas period it is a great time to stop and contemplate what the year ahead will look like. It is also a great time to reflect and determine whether you are getting what you want … Continue reading “What Does The New Year In Business Look Like For You?”

This time last year, one of my favourite clients called me a Grinch. She asked if she could have extra money from her super fund over Christmas and I said no – keep in mind that this is her money! The key is that right back on day one, she admitted to not being good … Continue reading “The Grinch”

2017 seems to be flying by with on a couple of months to go until Christmas. It is this time of year that a lot of my business clients take a moment and plan their time off over the Christmas period. For many in small business not only does this mean time with family and … Continue reading “Will Your Business Have Enough Money To Get Your Family Through The Holiday Period?”

I personally do not have any real interest in Halloween and I doubt if anyone is overly scared by the customised pumpkins on sale in the supermarkets. But it does provide me with a really lame excuse to tie in to another topic, something that does keep me awake at night – superannuation. Before anyone … Continue reading “Halloween – Are You Scared?”

Father’s Day was on Sunday, did we get presents? Breakfast? A nice card? Cynics amongst us will dismiss days like this as an excuse for retailers to improve their profits. I like to embrace the family aspect, the opportunity to spend time with loved ones and for the kids to pump up my tyres with … Continue reading “Father’s Day – A Time To Reflect”

As we enter September and Spring has finally arrived it is a great time of year to tidy up your business. What do I mean by this? Well I liken this to cleaning out the spare room of the house. For me this is about: Reviewing the expenses the business is incurring. Is there any … Continue reading “Spring Is Here – Time To Dust The Cobwebs Off Your Business”

CNS Partners specialises in advising dentists in private practice and we have access to the most up-to-date dental practice research and benchmarking information. The 2016/17 Dental Practice Research Report features detailed insights into: What makes a successful dental practice; Key strategic threats facing the industry; Dentists top business concerns and needs.   There is a … Continue reading “Dental Practice Report And Business Improvement Process”

Where do you want to go? How are you going to get there? Yes, you can invest online. Yes, you can buy insurance online. Yes, you can buy a DIY Will kit online. But in purchasing these, do you actually know what you have bought? If things go wrong or if your circumstances change, is … Continue reading “Plan For Your Future”