Westcourt

Getting a Handle on Due Diligence

If you are thinking about buying or selling a business the words ‘due diligence’ will often be bandied around.  The process of undertaking due diligence typically starts once a non-disclosure agreement is signed and clarity on the transaction is set.  The process of due diligence is an investigatory one.  The purchaser is undertaking a deep… Continue reading Getting a Handle on Due Diligence

Electric Cars are Now the Tax Vehicle of Choice 

The recent labour government win in the election has one promise that will massively change the tax landscape when it comes to HR management and salary packaging motor vehicles for employees.  The proposal is that no fringe benefits tax will apply to an electric car if the cost of the car is less than $84,916… Continue reading Electric Cars are Now the Tax Vehicle of Choice 

How the Export Market Development Grant can help business families

If you are a small business or a medium sized business looking to expand your presence offshore by exporting, the export market development grant is especially designed to help you do that. How much is the Export Market Development Grant? The maximum grant payable is $770,000 over an 8 year period. It is capped at… Continue reading How the Export Market Development Grant can help business families

What is business accounting?

As small business accountants we often come across business owners who find that accounting is a foreign language that will never makes sense. And the fundamental fault for this lies in the person presenting the information – the small business accountants. The language of small business accountants is simply a language. And the better the… Continue reading What is business accounting?

Structuring your business to combat inflation

In Australia inflation has effectively not been part of the family business and investing landscape for at least two decades. So dealing with rising prices and rising costs, and engaging cloud accounting software solutions to help that, in your commercial family business to make it prepared for inflation is important.  Here are some simple measures,… Continue reading Structuring your business to combat inflation

A deep dive into the New Xero Ultimate package

As Xero scales up (and down) its cloud accounting solution for business across Perth and Australia it is exciting to see that Xero has recently released their new “Ultimate Plan” What is the Ultimate Plan? The Xero Ultimate Plan is the most comprehensive plan available to the families who own businsses.  It includes Xero’s core… Continue reading A deep dive into the New Xero Ultimate package

Your definitive guide to Business Tax Planning Strategies

With 30 June just around the corner many business operators across Perth and greater Western Australia are thinking about tax planning for business and their structures. Why is tax planning important? Taxation is a primary factor in the after-tax returns from a family business. And tax planning is an important step in strategically managing your… Continue reading Your definitive guide to Business Tax Planning Strategies

West Australian Covid Grants are still alive and well

Now that JobKeeper has ended many accountants are calling the end of State Government COVID grants.  And that is not the case at all. In particular the Small Business Hardship Grant is particularly attractive for businesses. How much can I get? The amount of the grant is dependent on the number of employees you have… Continue reading West Australian Covid Grants are still alive and well

13 Estate planning tips beyond your will

As accountants we understand that an estate plan goes beyond preparing a will and a testamentary trust.  The practice of making sure you choose the time when you transfer your estate together with the correct recipient (tax effectively) ranges from simple to deeply complex. The following are some simple tips to making sure your estate… Continue reading 13 Estate planning tips beyond your will

5 Key Forces to include in your business plan

When you sit down with your accountant to strategically review your business plan: everybody needs to call the elephant in the room – blind spots. The process of business planning, monitoring and updating strategy can potentially become a group love-fest unless you have some critical high level thinking that is attempting to stretch the boundaries.… Continue reading 5 Key Forces to include in your business plan

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