Insights

For all businesses, regardless of size, maintaining confident and accurate financial information is essential in building a successful venture. Therefore, ensuring you have the appropriate bookkeeping functions and systems is critical moving forward.

As originally announced in this year's March Federal Budget by the then-Morrison Government, new reforms surrounding Employee Share Schemes (ESS) available to employees have now received Royal Assent, with revised legislation to take effect from 1 October 2022.

As of 1 July 2022, new legislation has now taken effect which details the Australian Tax Office’s compliance approach to the allocation of profits or income from Professional Firms as assessable income to the ‘Individual Professional Practitioner’ (IPP).

For Individual taxpayers, July presents an ideal time to get ahead in lodging your Income Tax Return for the pervious Financial Year. In claiming all appropriate deductions, you can potentially lower your tax obligations.

As house prices continue to remain high in a competitive market, for those with a significant portion of land, the attraction of subdividing the family block may appeal as a source to increase wealth, build a property portfolio, or downsize for retirement.

One of the most common issues raised by business owners during the New Financial Year period often pertains to how to build a continuous ‘pipeline’ of leads and potential clients, which can be converted into increased revenue and business growth over time.

Over the past 24 hours, the Palaszczuk Government released their QLD State Budget 2022-23, dedicated to creating more jobs across industries, delivering better services, and protecting the Queensland lifestyle.

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.

As of 1 July 2022, there are a number of important changes which come into effect impacting employers and the Superannuation of employees.

In our latest Building Your Business podcast episode, Chris Lewis chats with Smiljan Jankovic as they discuss what has been seen across the last 12 months in the Management Rights industry, and an overall sector update MLR professionals.