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By Adele WardleyThe budget announced last night has proposed many changes to the way superannuation funds are currently taxed. These changes will impact the strategies on how to accumulate superannuation as well as those who are currently paying pensions. It will be critical to review your circumstances before making further contributions and plan to ensure your superannuation is structured to best deal with the changes occurring on 1 July 2017.  The below is a summary of the key proposed me... More...
You all know we love the cloud, with Xero, FathomHQ, workflowmax (our practice management system) and enableHR to name a few we run our business entirely from the cloud.Every now and then we come across a fabulous product that we want to share with you. Right now, that's workable. You've probably seen that we are hiring, so we have been on the search for apps to help us do this as quickly but professionally as possible.So here is our review of workable (www.workable.com)What is it?“The easie... More...
Written by Adele Wardley. It seems an unlikely choice – between a book keeper or a Chief Financial Officer (CFO) – one reduces the daily drudgery of invoices, bank reconciliations and administration – the other is a high level executive charged with providing strategic advice.When a small business owner is pressed for time (and frankly, who isn’t), a book keeper seems like the logical port of call to ‘gain back some time’, find that ‘work-life balance’, ‘free yourself up’, and allow yourself... More...
Written by Adele Wardley. As you and your practice prepare for the end of the 2012 financial year, check you have these simple tax strategies covered:Do any repairs and maintenance to the surgery premises that you have been putting off. For small business taxpayers the repairs will need to be paid for by 30 June to be deductible. For larger taxpayers the repairs must be invoiced by 30 June to be deductible this year.Bring forward any expenses you are likely to incur in the next few months. E... More...
Written by Adele Wardley. Going in to business can be a daunting step, particularly where you have spent many years training as a medical professional but probably no time at all training as a business person. I am often asked “what structure should I use for my medical practice” or “what structure should a doctor have”.I think this question is a bit like buying shoes. When the shop assistant inevitably asks “Which size are you” we would love to be able to turn around and say a number with c... More...
Written by Adele Wardley. Today’s smartcompany article reveals that the average cost to a business of tax compliance is $28,000 and 493 hours per year.Ouch! Imagine what could you do with an extra 500 hours per year.Are you spending your money wisely? Are you getting value for money?Are you leveraging your tax records to help your business make more money?Are you waiting for the government to simplify tax regime or are you going to do something about it? You might be waiting a while! we are... More...
Written by Adele Wardley. Time. It’s probably a small business owner’s most valuable asset and simultaneously their scarcest resource. Being a small business owner myself I understand the list of ideas, tasks and possibilities is almost always bigger than the time I have available. There is nothing quite so motivating as building and maintaining a successful business, yet nothing as frustrating as having more ideas than you have time to implement them.One of the first things many business ow... More...