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The Handbag vs Briefcase deduction debate

If a man can claim a briefcase as a tax deduction why can’t women claim their handbags? After all, men often have a lot of personal items in their briefcases and working women are just as likely to carry their ipads, documents, and other work related items in their handbag. So, what’s the difference and […]

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Budget Update 2016

In his budget speech, the Federal Treasurer Scott Morrison put forward a number of proposed changes, mainly around contributions to superannuation and taxation. Here’s a brief roundup of what the proposals could mean for you—whether you’re starting out in your career, taking care of family, on the cusp of retirement or enjoying life after work. […]

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Growing to Death

Most people are not surprised when a start up business fails. But it’s not just start ups that grow to death; it’s also a common cause of business failure for mature businesses. Start-up businesses often fail because they are undercapitalised. They grow until the money runs out and then they can’t afford to fund further […]

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Why changing your business structure just got easier

New rules that apply from 1 July 2016 mean that small businesses can restructure their business operations without triggering adverse tax implications. Before the introduction of the new restructuring rules, if a business restructured from say, a partnership to a trust, there was a possibility that the change in structure could trigger capital gains tax […]

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Deadline looms for SMSFs and collectibles

Does your self-managed superannuation fund (SMSF) own a motor vehicle, artwork, wine, coins, jewellery or other collectibles? More stringent rules for how these collectible and personal use assets are managed come into effect for all funds from 30 June 2016. While it’s important for all SMSFs to ensure that they are compliant with the rules, […]

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Ups & Downs: Managing in uncertain times

How do you create certainty in uncertain times? Much of what we do personally to grow and protect our wealth, and commercially for the businesses we manage is subject to unpredictability and change. The answer is that there are no certainties in life – sorry about that. But, this doesn’t mean that you can’t take […]

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