Tax time is back again, proving it really is one of the few certain things in life
Expert Advice
It's tax time! But that doesn't mean it's time to stress. In fact, according to Aero Accounting director and PAQ Group founder Justin Wong, the most important part of your money is how you actually spend your income. How you manage and pay your tax should simply complement this. Justin says the first thing he does when he takes a...
More than a year after devastating hail, what have we learnt about insurance?
Expert Advice
The hailstorm that left a trail of devastation in its wake as it tore through Canberra in January 2020 might have been over in just 15 minutes, but many major commercial property insurance claims have yet to be dealt with. According to Allinsure managing director Peter Chamberlain, there are still clients out there who are unaware their building's roof was...
Can’t pay the tax office? Here’s what you need to do
Expert Advice
Like most of us, the Australian Taxation Office faced a year of change in 2020, and their focus was on stimulus measures and supporting businesses rather than debt recovery. But, as the economy wakes, the giant is stirring once again and it's looking for its tax dollars. "The reality is, during 2020, the ATO was much more lenient," says RSM...
Cricket ‘tragic’ Rohail the new property lawyer on the block
Expert Advice
When it comes to residential, commercial and business property transactions, up-and-coming lawyer Rohail Azhar is getting plenty of runs on the board. Born in Canberra, Rohail spent his early childhood with his grandparents in Pakistan before returning to Australia where he finished his schooling and attended the University of Canberra, graduating with a Bachelor of Politics and International Relations and...
Succession planning: who is taking over your business?
Expert Advice
After a year of disruption and hard slog, most Canberra businesses are slowly beginning to see the light of day. But after everything businesses have been through, lawyers and financial advisors are reporting more owners are thinking beyond this year or next and considering their life beyond business ownership. Snedden Hall & Gallop's senior associate and succession planning specialist, Emily...
Rebuilding your business in the ‘new normal’
Expert Advice
With a COVID-19 vaccine on the horizon and Canberra businesses finding their feet, a post-pandemic ‘new normal’ is finally becoming a reality. Financial advisers say the new business landscape will require some adjustments, including developing strategies for managing cashflow and profitability – especially businesses that have been supported by JobKeeper, which is due to end in March. RSM in Canberra principal...
New options for small businesses struggling with debt
Expert Advice
Small businesses struggling with debt have been offered a lifeline through reforms to small business insolvency rules. The changes to Australia's insolvency rules were designed to assist with restructuring and relieving the debt burden of small businesses impacted by the COVID-19 pandemic. The changes, including a new debt restructuring process and a simplified liquidation process, will apply to incorporated small...
The hidden danger of working from home
Expert Advice
Much has been reported about the benefits of working from home, but for some people, home is not a safe place. Those who work from home are more exposed to people who are responsible for domestic or family violence, and one woman a week is murdered during domestic violence incidents in Australia. The issue raises some interesting points about policy...
More migrant children are applying for parent visas
Expert Advice
Changes in migration patterns are seeing an increase in the number of skilled professionals migrating to Australia and then exploring the options available to get their parents to join them. While current COVID-19 restrictions have put many migration plans on hold, the broader trends look likely to continue when pandemic conditions ease. Regardless, recent directions in migration are a far...
Strategies for dealing with workplace complaints
Expert Advice
Complaints, and those making them, can be hard to deal with at the best of times, from tiresome retirees with nothing better to do except wage a personal war against their local government, to customers whose level of entitlement and expectations exceeds any business' ability to deliver. But when it comes to workplace complaints, managers need to be particularly savvy...
Dealing with ‘sexually transmitted debt’
Expert Advice
We often go into relationships with all the best intentions in mind and with no expectation we will be left with a life-changing debt. Sexually transmitted debt (STD) occurs when one partner takes responsibility, wholly or partly, for the debts of their partner, either unknowingly or unwillingly. STD is emerging as a big issue and, in some cases, causing a...
Saving to buy your first home by salary sacrificing into a superannuation fund
Expert Advice
It's a question often asked by parents and children – how are you supposed to save a deposit when you're looking for your first home? Saving enough money for a home deposit is recognised as a difficult thing to do, which is why governments are offering first home buyers both grants and tax breaks to help get a deposit together....
Has JobKeeper worked too well? Experts prepare for an influx of business insolvencies
Expert Advice
Experts have been sounding the siren for months, warning about a sharp increase in the number of business insolvencies and bankruptcies when Federal Government support and subsidies end. JobKeeper has been a lifeline for many businesses but RSM partner Jon Colbran says the decrease in rates on 28 September will take businesses one step closer towards the precipice. Mr Colbran expects...
Top