Many family businesses in Perth are doing incredible work. And it is great to know that the research and development tax incentive or the research and development tax offset are specifically designed to assist these family owned businesses in Perth. How much is the R&D Incentive worth? In effect: if you turnover less than $20m… Continue reading The R&D Tax Incentive: What is it and how do I get it?
For many family business owners the pathway to success has been a very purposefully driven process. Key targets have been set, goals have been identified and actions have been carried out to achieve a degree of success. For many, the success of the family business has generated in wealth for the family. However, the difference… Continue reading Getting a conversation started on wealth succession
Many families will have systems in place when their kids buy their first home. Just like they help with all taxation, investment and superannuation concessions. Because the purchase of the first home is a large investment decision and the success of the child’s home ownership will impact on how the legacy is transferred. And with… Continue reading Helping the kids buy their first home: taxation and superannuation
Many Perth based family businesses are looking internationally for growth. And as soon as you talk about dealing offshore you will start talking about foreign exchange risks. For example: Perth Business Accountants Pty Ltd (PBA) has a contract to sell USD $1m a month in business advisory services. The contract will last for 3 years.… Continue reading Understanding how foreign exchange markets work
A preliminary guide to common issues asked by couples who are separating. The act of leaving a spouse is always difficult. And almost always the financial aspect of the separation is a key discussion point. We have detailed a few financial and tax related things to go over for couples who are intending, or who… Continue reading The financial aspects of a divorce
Property developers and their extended family will face a significant change in the taxation of their developments. In particular the tax treatment of the goods and services tax remitted by purchasers of new residential premises will mean that Perth tax accountants will be called upon to help families doing the development. The tax changes will… Continue reading GST changes for property developers are coming on 1 July 2018
An accountant for a family business is constantly looking at forward cash flows. Be it upcoming tax liabilities, loan repayments or lease obligations. The management of forward cashflow makes the interplay between short-term v long-term lending critical. And the management of these amounts can be critical for the ongoing success of family-owned businesses (especially start-ups).… Continue reading Short-term vs long-term financing
We often find that for a family in business, the cross over between business loans and investment loans is blurred. If your family has several real estate assets, and business assets, all offered as security for one loan you are “cross collateralised”. Sadly having loans “crossed” rarely helps a family. In fact it mainly helps… Continue reading 10 Reasons why you should not cross collateralise your loans
By Westcourt Blogger Freeing up working capital can help businesses fund growth, reduce debt levels and lower costs. One way to improve working capital is by managing your accounts receivable. Many businesses fall into the trap of poor accounts receivable management – from extending credit to customers to ignoring payment terms to guarantee a new… Continue reading Improving your accounts receivable
By Westcourt Blogger A home’s equity is the difference between the market value of the property and the amount the owner still owes on their home loan. For example, if the home is worth $800,000 and the homeowner owes $450,000, they have $350,000 in equity. There many ways homeowners can build equity in their home… Continue reading Understanding home equity
