Insights

All businesses face the necessity and reality of expenses. However, when was the last time you reviewed the expenses in your Management Letting Rights business?

As electric vehicles (EVs) become more popular, the need for a comprehensive charging infrastructure to service the vehicles is increasingly important. To encourage the development of such infrastructure, the Australian Tax Office (ATO) has introduced new legislation for electric vehicle home charging costs according to draft Practical Compliance Guidance PCG 2023/D1.

As a globally connected economy, remaining at the forefront of industry trends, regulations, and environmental changes is essential for business owners within the transport & logistics sector.

In a measure to reduce emissions and reduce Australia's carbon footprint, the Federal Government's proposed Treasury Laws Amendment (Electric Car Discount) Bill 2022 has passed Parliament, with Fringe Benefit Tax (FBT) exemptions for electric cars now law.

As we begin the New Year, it is important for business owners to consider how their organisation is best-positioned to respond to changes in today’s rapidly evolving business environment.

Whether you’ve newly purchased or have a well-established operation, preparing your Management Rights business for sale is an important scenario to consider in the back of your mind.

Regardless of industry, the upcoming New Financial Year presents an ideal opportunity for business owners to review the results of the previous 12 months and begin formulating a plan for the fiscal year ahead.

For QBCC licence holders of Self-Certifying Category 1 (SC 1) and Self-Certifying Category 2 (SC 2), a reminder you have until 31 March 2022 to submit your annual financial information, outlining compliance with requirements.

For operators within the Building & Construction industry, maintaining regulatory compliance and financial reporting is essential in complying with obligations set by the Queensland Building & Construction Commission, ensuring continuation of QBCC license and the ability to complete and undertake new projects & work.

Investment in Off-the-Plan Management Rights has always been a good proposition for experienced managers, whether in the short-term or permanent sector. From the early stage, investors have been purchasing MLR businesses and turning them around in a short period with aim to make quick profits. This has unfortunately changed over the past two decades and currently, buying an Off-the-Plan Management Rights business is a relatively long-term process and a longer investment proposition.