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Money Talks
November 2018 - Money Talks
BECOME THE KING OF YOUR CASHFLOW: You will have probably heard the expression "cash flow is king" and there is nor better time than the start of a new financial year to commit to smarter cash flow management in your business... Find out more
Tax Checklist
2018 - Tax Checklist
To assist in completing your tax return, we have a checklist that will help you with what you need to provide us. Find out more
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Become the King of your Cashflow

You will have probably heard the expression "cash flow is king" and there is no better time than the start of a new financial year to commit to smarter cash flow management in your business.  There's a reason many business owners stress a lot more about cash flow than they do about profits or building equity.  A steady flow of income, is essential to business success, for start-ups and multinational corporations alike...


Will Australians pay more for a good cause?

In the same month that desperate farmers made headline preparing to destroy starving flocks and pleading with the public to pay a few cents more for their dairy products, Dick Smith's nationalistic brand announced it's closure.  The question is, will Australians pay more for a cause?  Comments like "We're with you" and the 2.8k heart emojis on facebook do very little when you can't feed your herd.  It's nice there is emotional support and the plight of farmers is recognised but what does it really achieve?


When can you take your super?

The cash sitting in your superannuation fund can be tempting, particularly if you are short of cash.  But, the reality is, there are very few ways you can take advantage of your superannuation once it has been contributed to the fund - even if you change your mind.  The sole purpose test underpins access to your superannuation - that is, superannuation is for the sole purpose of providing retirement benefits to fund members, or to their dependents if a member dies before retirement...


Will your business be audited?  How the ATO identifies audit targets

The ATO is very upfront when it comes to their compliance activity.  Every year they publish small business benchmarks that outline what a typical business 'looks like' in different industries.  If your business falls outside of those benchmarks, the ATO is likely to take a closer look at why that is.  Falling outside of the benchmarks might not indicate a tax related problem.  It might mean that your business has a different business model to the norm or is performing poorly relative to others in the industry...


New data breach laws come into effect

New data breach rules came in effect from 22 February 2018 place and onus on business to protect and notify individuals whose personal information is involved in a data breach that is likely to result in serious harm.  In October last year, almost 50,000 employees records from Australian Government agencies, banks and a utility were exposed and compromised because of a misconfigured cloud based 'Amazon S3 bucket'.  AMP was reportedly one of the worst affected with 25,000 leaked employee records... 

 

 

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