Here, our financial experts take a close look at what’s happening in the world of finance.
We uncomplicate breaking announcements from the Reserve Bank of Australia (RBA), the Australian Taxation Office (ATO), the Australian Securities and Investments Commission (ASIC) and the Federal and State Governments so you can understand how those changes will impact you, your family or your business.
If you’re wanting to stay up-to-date on topics such as interest rates, tax planning, superannuation, the Federal Budget, incentives and schemes, HELP debt, deductions, concessions, depreciation, investment properties and much more, this is where you’ll find the answers.
Knight is with you every step of the way as you strive for financial success. If you’d like some additional information regarding any financial news, please reach out for a consultation to plan your next step.
Risk Is Common; its Management is Rare.
We’d never progress without some measure of risk-taking. Children excel at estimating the flexibility and strength of outward and upward reaching branches. Mixing intuition with experience strengthens their talent. Honing the skill enables ever greater achievement. Of course, we reach a point where we need to do more than climb trees, however, the development of these early skills helps us to identify and manage other hazards allowing us to push more important boundaries. Risk is inherent in business and investment.
Smart ways to save tax before 2017 EOFY
One reporting season over and another looms! Review now to make the most of tax benefits. Whether you’re running a business, a super fund or both, the clock is ticking towards the end of the financial year. Taking time to check through a few critical items now can make a big difference to tax deductibility and maximisation of superannuation benefits for this and future years. For Businesses 1. Write off any bad debts through the accounting software before year end
3 Strategic actions you need to take this annual reporting period
Viewing annual reporting as the ideal opportunity to get to grips with what’s really happening in your business or SMSF investment portfolio, rather than simply viewing it as another compliance deadline, can generate real benefits. Here are three strategic actions you can take during the annual reporting period to optimise your business for the future. 1. Gain clarity on cash flow If you’ve ever wondered why your reports show you’re making good profits yet you can’t see your bank balance
Expert Advice Can Develop and Protect Value
The majority of businesses grow and develop off the back of the inspiration and drive of one or two people. Striking off into the unknown is part of the journey and the freedom of reactive, independent decision-making can be beneficial. Striving in isolation, defining new methodology, problem-solving on the fly – these are all in a day’s work for new and developing businesses. But this approach will only allow so much progress. Solo circumnavigators use skilled support teams before, during,
Succeeding at Succession Planning
A paper written by American scholars William O’Hara and Peter Mandel lists the oldest 200 non-American family businesses still in operation. With the first established in Japan in 578 and the youngest in Australia in 1802, they span from 6 to 46 generations and include many household names. They’ve survived war, pestilence, plague, financial meltdown and, no doubt, the occasional heated boardroom battle. Not one of these legacy businesses has survived by accident. When you’re building a business, you’re more
Could your business survive an unfortunate event?
What would you do if the worst happened to your business partner? After you have consoled their partner, overcome the shock and had a good cry your thoughts will turn to your business investment. You have both invested a lot of time and money into your business; if your business partner is no longer there who gets their share of the business? Once any business has more than one owner, we recommend entering into a Buy Sell Agreement. This is
What’s going to happen to your business?
The Exit Planning Institute reported that more than two thirds of all businesses are owned by baby boomers and that more than 80% of these business owners intend to retire from the sale of their business within the next 10 years. Unfortunately less than 30% of these business owners have done anything about documenting their succession and retirement plans and many will simply walk away from their business or sell it well below fair value. For many business proprietors exit options
Monitoring your net worth
How do you think you have gone the last 5 years? Have you been working really hard but don’t seem to see where your money is going? Do you think you are getting ahead in life or running on the spot? Worse still is your financial position deteriorating? Your net worth is what’s left over when you add up all your financial assets (such as the money in your bank account, your house or other property, shares and retirement funds)
NKH Knight merges with EKS Solutions
NKH Knight reached an agreement with EKS Solutions to merge our businesses together. Both businesses have been servicing clients for over 40 years and have longstanding client relationships based on trust, personalised service and expert advice. Mark Smith and Greg Berry, the Directors of EKS Solutions, and the full contingent of EKS Solutions staff have joined NKH Knight. The combined business has adopted the identity of NKH Knight and is based in NKH Knight’s offices in Subiaco. NKH Knight’s ongoing