Mediation – Keep the decisions in your court
Expert Advice
Have you ever heard there are two (2) sides to any story? Metaphor: When you board a plane from Sydney to New York, the pilot knows his/her destination point and the route to get there. Over the course of the flight the plane will endure many environmental influences along the way e.g.: wind, rain, other aircrafts, restless passengers etc… the...
Special Levy or Strata Finance? the answer is not always straight forward
Property
"Cash is King" is an expression I have often thrown around in relation to property matters. No doubt I picked it up from an early mentor of mine who also fancied the mantra. However catchy a line it may be, the principal behind it is by no means universal. When it comes to funding major works within a strata building,...
Avoid a fail grade: integrated temporary employees make powerful brand advocates
Recruitment
The rapid rise in the use of temporary and contract assignments has seen a blended workforce become the norm in many industries and sectors. But the success or failure of this arrangement often comes down to how well temporary and contract employees are integrated into a team. The very nature of this form of employment means that temporary and contract...
Trade Mark Examiner Adverse Reports – not necessarily fatal to your application
Expert Advice
After a trade mark application is filed it is examined by a Trade Mark Examiner. All trade mark applicants hope to get a "clear" Examination Report. This enables the application to be advertised as accepted. However, many applicants receive an Examiner's "adverse report", leaving some to think the application is "dead in the water" (not automatically true) and others wondering...
A $23 million mistake! Take care with the PPSA
Expert Advice
The Personal Property Securities Act 2009 (PPSA) has been in force for a little over 5 years and cases still emerge where either a lack of understanding, or a lack of attention to detail, cost the owners of goods significant sums of money. In the recently reported case of Alleasing Pty Ltd v Onesteel Manufacturing Pty Ltd (Admins Apptd), the...
Five common business hurdles
Cash Flow Solutions
Owning a business takes a huge amount of energy and drive; growing a business takes even more. We work with many businesses across a variety of industries and time and time again, five key challenges crop up: Overexposure… Keeping client business at a safe percentage of total revenue is a challenge for many businesses. Developing a healthy number of regular...
20,000 complaints – but is the customer always right?
Business Law
On 3 January 2017 the ACCC released statistics that more than 20,000 shoppers complained about 'consumer guarantees' in 2016. With Christmas presents now unwrapped and gift cards spent during the stocktake sales, if a good is faulty what obligations do businesses face? The Australian Consumer Law imposes non-excludable consumer guarantees on the sale of goods and the provision of services;...
The important role of CFOs in Not-For-Profit associations sector
Bookkeeping
Recent changes in government policy have resulted in substantial impacts on the Not-For-Profit (NFP) association sector. Government grants to NFP associations are expected to decline, contributing to the resourcing pressures for many NFP associations in Australia. Financial resources from memberships, donations, and government grants were core funds used to sustain NFP associations for many years. However, the concern in the...
Are you missing out on tax incentives?
Accounting
If you're the owner of a company that, unbeknown to you, conducts research and development (R&D) which could qualify for tax incentives - to the tune of 45 cents for every dollar spent - now's the time to explore how much tax money you might be leaving on the table. There are countless companies across Australia that periodically end up...
Just what is a sustainable cash flow?
Accounting
Many SME owners struggle to differentiate between profit and cash flow. If asked to produce a cash flow forecast, most will revert to producing a profit forecast. But profit and cash flow are definitely not the same. GROWTH IS NOT NECESSARILY A SIGN OF SUCCESS For example, did you know you can actually go broke if your business grows too...
Tomorrow’s CFOs -transformational leadership in the C-Suite
Bookkeeping
The growing importance of Chief Financial Officer (CFO) roles due to globalisation and business complexity has led to the need of increased expectation for CFOs to become business strategists. Equipped by technology advancement, the role of a CFO is now transforming. Conventionally, CFOs are required to direct the company accounting, ensure the financial information accuracy, and monitor the financial health...
Why play by the rules? fair is fair, isn’t it?
Business Law
Despite the fact that people care more about the result of the final Saturday in September than the goings-on in Parliament, the AFL does not wield governmental power (though the AFL might wish otherwise). How then did James Hird allege that he was denied procedural fairness when the question of whether he breached the rules was determined? While those proceedings...
Brushing up on invoice finance
Cash Flow Solutions
Cash flow is the lifeblood of any business. It is all about timing - the books and outlook can be good, but many small to medium businesses experience cash gaps between delivery and payment. Slower debtor payments or extended payment terms inhibit a business's ability to invest, exploit larger opportunities or simply manage day-to-day costs. Increasingly, new and growing businesses...
Mitigating the insider threat
Cyber Security
Insider threats, or threats from your own users, are the number one concern for Australian organisations according to the 2015 Australian Centre for Cyber Security (ACSC) survey results. Organisations are increasingly losing control of high-value information. Extenuating factors include bring-your-own-device (BYOD) usage, the sending of sensitive information to external people, and the use of cloud applications and collaboration tools. These...
Ignoring employee entitlements? not so super…
Expert Advice
Most business owners would likely understand that failing to pay amounts due to the ATO can be the start of a rocky road to ruin. However there appear to be some, along with their advisors, who routinely underestimate the level of risk associated with ignoring the revenue Czars - and now the focus has shifted to superannuation guarantee entitlements. A...
Penfolds raises a glass in China
Expert Advice
In a landmark ruling from the Beijing High People's Court, Treasury Wine Estates ("TWE"), the owner of the 'Penfolds' wine brand, has successfully challenged the registration of the lucrative 'Ben Fu' trade mark which had been registered by well-known 'trade mark squatter', Li Daozhi, in China. TWE had failed to register the trade mark, a Chinese transliteration of the Penfolds...
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