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.
FBT and Christmas – the top 10
As the festive season approaches, many businesses may be starting to plan Christmas functions and thinking about offering their staff, clients and suppliers Christmas gifts. Something that is often forgotten at this time is the tax implications these bring. Here are 10 things about providing such benefits to employees that might help make things a little clearer. The costs of a Christmas Party are exempt from FBT, as long as they are only provided to current employees on a working
Make more of the festive season
Unusually long operating hours, public holidays and demanding customers can be a recipe for disaster. The best way to avoid the holiday period chaos is to have a well thought-out operating plan. The following are a few tips that will ensure your business maximises its potential. Have all staff well prepared for the rush periods, train them extensively where possible and use the best performers for the busiest periods. Have extra cash on-hand, especially small change. Look at the cash
The new Director Penalty Regime
The new Director Penalty Regime came into place in June 2012. It once and for all clears up any suggestion that a director can have a passive involvement in a company. It provides a stern warning to company directors that this position has great responsibilities. Unless directors closely monitor their company’s activity, they are placing themselves at great risk. Companies, as a legal entity, have long been a preferred structure for new business ventures because it provides protection of personal
Common marketing mistakes
The holidays are a vital time for small businesses to market their brand effectively, or risk being drowned out by the sea of competitors. Despite the vast range of literature and resources on how to be a successful marketer, there are some very common, avoidable mistakes that many small business owners make that may be holding back their business’ marketing potential. 1. Lack of understanding of customers Many marketers have a completely product-centric view of the world. They know their
