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Month

August 2022
small business
31/08/2022

Small business specialist advice pathways grants to help you build your business!

If you are a business in Victoria, you may be eligible for the newly opened Small Business Specialist Advice Pathways Program.

This grants $2,000 to “employing small businesses to access professional advice and services to help them make informed business decisions and plan for the future.”

Eligible projects include:

a) Advice and analysis regarding the management of cash flow, preparation of cash flow budgets and projections,

b) Profitability analysis and formulation of financial management and/or operational business strategies,

c) Strategic analysis to revise business planning and/or governance arrangements,

d) Advice regarding the management of debts and liabilities, or

e) Advice and/or representation regarding commercial agreement contract terms (i.e. commercial leases or commercial supply contracts).

Applications close on 30th September so jump on this offer fast.

It’s a great time to join our Valuebuilder business program and plan your business for the future.

Contact Michelle on 9597 9966, and we can send you the link to apply for the grant and tell you more about how you can join the short-track Valuebuilder program.

Our Valuebuilder program will identify areas where we can help your business improve cash flow and growth and strategically plan your future.

In the meantime, if you would like to get your value builder score, follow the link here:

https://score.valuebuildersystem.com/gartly-advisory-pty-ltd/geoff-gartly

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08/08/2022

Downsizer contribution eligibility to be lowered to age 55

The downsizer contribution is an after-tax contribution. Therefore when it hits your SMSF or super fund, no tax is payable on the way in. It also means upon retirement, and it can be paid as a benefit. A benefit that is returned tax-free when you withdraw the funds from your SMSF

Legislation passed

Last week parliament passed legislation, resulting in the downsizer contribution to allow house owners over the age of 55 to access this strategy. The lowering to age 55 is expected date for the enactment would be later this year (2022)

Downsizer contributions help you to increase your super balance. The downsized strategy a great way to catch up on lost retirement savings and grow your retirement nest.

Do you qualify to meet the downsized contribution strategy?


Per the ATO there are some of the eligibility criteria you must satisfy are:
• The home must be in Australia, have been owned by you or your spouse for at least ten years, and the disposal must be exempt or partially exempt from capital gains tax (CGT).
• You have not previously made a downsizer contribution to your super from selling another home or from the part sale of your home.
• Before (or at the same time) making your contribution, you must provide your fund with the ‘Downsizer contributions into super form.’

The downsizer contribution strategy can work for many who meet the downsizer criteria. It means your investments can grow in a protected environment at a low or upon retirement in the pension phase with no tax environment. This, together with other strategies, can form part of your retirement strategies.


Talk to Geoff, who specialises in SMSF advice and small business exit strategies to help businesses transition from business to enjoyment by unlocking their wealth from large family homes and businesses.

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01/08/2022

What to do when a loved one dies?

Join Geoff as he explains in simple terms what to do to finalise the taxation affairs of a loved one after they have died. Our youtube video outlines some of the steps that you as the executor may need to undertake. We welcome you to contact us further on 95979966 if we can assist you.

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