Concerned about a by Cassandra Emmett “going concern”?
Expert Advice
"Going concern" status is always highly desirable to both buyer and seller in a sale of business - because buying or selling anything commercial with no GST sounds great! However it is easy to forget that GST in a sale between two registered entities is a tax neutral outcome, because the purchaser pays 10% GST and gets it back from...
How effective is cloud computing?
Accounting
Small to medium sized businesses are finding ways to streamline their business operations by moving away from traditional on-site servers to internet based servers, a process known as 'cloud computing.' Cloud computing refers to the storage of information, applications and other business tools online. The hardware used for this information is stored in a remote location and managed by a...
Physical activity for health benefit
Expert Advice
Avoiding a sedentary lifestyle is critical to health and wellbeing. Unfortunately, the complexity of adult hood slowly causes exercise to move down our priority list. What if I told you, every time you complete a 30 minute exercise session you gain an extra week of an enhanced life? The national physical guidelines for Australians illustrates regular exercise is the key...
Staff retention
Expert Advice
This is a topic that never goes away - it just varies in terms of degrees. Now, more than ever, employers are up against huge competition to retain and motivate their good staff. Losing staff is costly to any organisation; in dollar costs, lost productivity, loss of corporate knowledge and general workplace disruption. Retention strategies are not one off actions...
Going overseas? Don’t forget to pack your estate plan
Estate Planning
With the rise in the value of the Aussie Dollar many people are considering taking advantage of the exchange rate and squeezing in some overseas travel. One of your pre-trip preparations should be: "REVIEW ESTATE PLAN" Did you know that the risk of dying while travelling overseas averages out to around 1 in 5000? Compare that to the annual chance...
Making green New Year’s resolutions
Document Management
We're all feeling the pressure to reduce our carbon footprint these days and what a better way to start the year than enacting eight simple changes to how staff print and manage documents in your office? 1. Rationalise your office equipment There is no longer a need to buy and run individual printers, photocopiers, scanners and faxes - a multifunctional...
The benefits of good governance
Corporate Governance
I wrote in a column in 2012 about the benefits that advisory boards can offer to smaller businesses. In this first column of 2013, I am revisiting this theme but on a broader scale, by looking at the importance of good governance for any type of organisation, including Not For Profit, Private and Public Sector organisations. There has long been...
Business: get me out of here
Expert Advice
Like sands through the hour glass, the eventual winding down of your business (or your role in your business) is inevitable. But even if your New Year's resolution is not to commence the move towards exiting your business, planning your escape should not be left until it is unavoidable due to age, health or circumstances. The best time to consider...
New insurance obligations for SMSF trustees
Accounting
The Federal government has recently introduced new measures to strengthen the regulatory framework in which self managed superannuation funds (SMSFs) operate. These new responsibilities commenced 7 August 2012 and apply to all SMSF Trustees. Insurance Needs A new consideration which must now become a focus for SMSF Trustees is the requirement to consider the insurance needs of all SMSF members...
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