News & Insights

Having worked extensively with privately owned businesses, it is often the same key issues that keep popping up with clients when we first start working with them. If left unaddressed, many of these issues can be catastrophic for a business, but with a little forward thought and planning, these same problems can help a business succeed.

Most business collapses can be attributed to the failure of operators to recognise the warning signs of the onset of financial problems. Owners need to identify and manage any weaknesses in their business whilst not being blind sighted to any new opportunities that might emerge.

Recently, the Victorian Government has handed down its 2019-20 State Budget, and there are a number of changes to the Motor Vehicle Duty treatment which will have an impact on car dealers.

A cooling property market, has led to an estimated $5.2 billion reduction in stamp duty projections over the next four years. The state debt is also tipped to double to $54.9 billion during the same period to fund the “suburban infrastructure blitz”.

The decision to buy or sell a business can be both exciting and daunting at the same time. With the rising number of Baby Boomers stepping away from their privately owned businesses, these decisions are becoming more frequent for our clients.

As a parent you are used to giving handouts to your children. From a couple of dollars to buy mixed lollies from the milk bar when they were young, to putting them through school, clothing and feeding them and even pocket money along the way. With any luck they may have washed your car or mowed the lawn for it?

We take this opportunity to highlight some key business issues that were announced in the budget. In the second part of this Tax Alert, we highlight some key tax policies of the Labor Party.

When the festive season arrives it’s easy to get caught up in the spirit of Christmas. People tend to spend more than they should and are happy to worry about the consequences in the new year.

As noted in Fordham’s 2018 Federal Budget Tax Alert, the Federal Government is proposing to make changes to Division 7A of the Tax Act. For some businesses, the changes may have a future detrimental effect on cash flow.

On 7 February 2018 the Commonwealth Government introduced legislation into Parliament containing several significant changes to how the GST collection provisions will operate – these new provisions are now law.

An effectively designed remuneration strategy is not only capable of attracting, retaining and motivating employees, it can also help your business to achieve important strategic goals and objectives.

From 1 July 2018, individuals aged 65 or more who sell their family home may be able to contribute some or all the sale proceeds into super. These super contributions, known as “Downsizer Contributions”, present an opportunity to maximise super for those who would otherwise be unable to contribute due to their age, work status or “total superannuation balance”.