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Product development and keeping your products or service new

By |2025-03-05T10:03:25+11:0005/03/2025|Categories: Blog, Business growth|Tags: |

  Product development and growth are essential for any business. A product in your business has a lifecycle and a potential use-by date. Keeping it vibrant in the market requires continuous effort, creativity, and passion. Take a moment to evaluate your products; have they been around for a while? As the years go by, even the most popular items you have been selling can lose their sparkle and appeal. That's why it's essential for small business owners to rejuvenate their product offerings bi-annually. My father was the accountant for Hills Industries, and I, too, worked there as a student, [...] READ MORE

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March 2025 Newsletter

By |2025-03-04T16:29:22+11:0003/03/2025|Categories: Blog, Business growth, News for you, Services accounting for small business, small business, Taxation|Tags: , , , , , , , , |

Our March edition features pieces on: Salary sacrifice vs personal deductible contributions: and the winner is… Beware of Bitcoin gains! Do you own an asset that is used in your spouse’s business? FBT checklist for 2024-25 Click here to download our March Newsletter Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.

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Paying a Dividend from my company or Keep the Profits ?

By |2025-09-08T10:15:19+10:0001/03/2025|Categories: Blog, Business growth, Services accounting for small business|Tags: , , |

‍Paying a dividend from my company is one of the most important decisions you'll have to make is what to do with your profits. Should you pay a dividend to yourself as the business owner, or reinvest the money back into the company or both? It's a question that many business owners struggle with, and there's no one-size-fits-all answer. We argue that paying a dividend is an effective way to reward shareholders. Others believe that reinvesting profits is the key to long-term growth and success. In this article, we'll explore the pros and cons of both options, so you can [...] READ MORE

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Superannuation Contributions and deadlines

By |2025-02-21T11:35:42+11:0021/02/2025|Categories: Blog|

It is important to understand the timing of superannuation contributions and when and how they are recorded in the Fund. One of the most common ways an SMSF grows its capital is through contributions made by its members. As you age, fund members focus more on boosting super as this attractive investment vehicle is built and established for your retirement. These contributions can be in contributed by cash, electronic transfers, or other financial instruments. Understanding when a contribution is considered to be made is essential for SMSF trustees to ensure compliance with superannuation laws and tax obligations. This is especially [...] READ MORE

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February 2025 Newsletter

By |2025-02-04T19:20:05+11:0004/02/2025|Categories: Blog, News for you, Services accounting for small business, small business, SMSF, Taxation, Trade & construction|Tags: , , , , , , , , , , |

  Our February Newsletter is packed with insights to help you navigate the year ahead, keeping you informed about key tax, financial and superannuation changes that may affect you.   Articles include:   Seven changes impacting your super in 2025 Rental data matching by the ATO Coalition election announcements Super and hardship: a safety net in financial difficulty ATO confirms tax deductibility of financial advice fees   Click here to download our February Newsletter     Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.    

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Transferring XRP to your SMSF

By |2025-01-23T07:54:28+11:0023/01/2025|Categories: Blog, SMSF|Tags: , , |

With Trump's era now in full swing, crypto  such as XRP is enjoying growth. We have had a few queries lately about moving the client's crypto from their own name into a family trust or SMSFTransferring cryptocurrency, such as XRP, into your Self-Managed Super Fund (SMSF) can be a strategic way to align your digital assets with your retirement goals and manage capital gains. However, it requires careful compliance with Australian Taxation Office (ATO) regulations and documentation. Here's how to approach the process in a compliant and seamless manner.The first step is to ensure that your SMSF’s trust deed allows [...] READ MORE

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Running a B n b using Your SMSF

By |2025-01-08T16:39:24+11:0008/01/2025|Categories: Blog, Estate Planning, small business, SMSF, Trade & construction|

Many ask if it is possible running a B n B using your SMSF? The allure of a coastal property. The sound of waves crashing, stunning sunsets, and the potential for lucrative rental income and capital growth. These are all good reasons to invest in coastal real estate. If you have a Self-Managed Super Fund (SMSF), you might wonder whether such an investment could fit within your retirement strategy. The short answer is yes, but with a few critical hurdles to navigate. The Vision vs. The Rules Picture this: a charming beach house listed as an Air BnB, earning a [...] READ MORE

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December 2024 Newsletter

By |2024-12-17T14:18:04+11:0017/12/2024|Categories: Blog, small business, SMSF, Taxation, Trade & construction|

Our December Newsletter is packed with helpful articles for the festive season and beyond. As year-end celebrations approach, our first article explains the tax rules around Christmas expenses for business owners. We cover FBT, GST credits, and what’s tax deductible, so you can avoid any surprises. We explore claiming self-education expenses. While these costs are usually tax deductible if they relate to your work, there are some exceptions to be aware of. We also share “12 super tips for a merry and bright retirement.” These simple steps can help you get the most out of your super and build a more secure future. For [...] READ MORE

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November 2024 Newsletter

By |2024-12-17T14:13:28+11:0017/12/2024|Categories: Blog, small business, SMSF, Taxation, Trade & construction|

Our November edition features pieces on:   How taxable is that side hustle? The black hole of CGT and trusts What we know so far about payday super What tax receipts do I need to keep? Super on parental leave pay is now law   Enjoy reading our Newsletter here:  GARTLY-November-2024   Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.

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October 2024 Newsletter

By |2024-12-17T14:10:10+11:0017/12/2024|Categories: Blog, small business, SMSF, Taxation, Trade & construction|

Our October Newsletter features pieces on:   Making contributions later in life What is the right business structure? Selling a property with mixed rental and residential use Comparing SMSFs with other super funds The dangers of failing to declare income or lodge returns   Our Newsletter can be found here: GARTLY-October-2024   Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.

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September 2024 Newsletter

By |2024-12-17T14:05:54+11:0017/12/2024|Categories: Blog, small business, SMSF, Taxation, Trade & construction|

Our September Newsletter features pieces on:   Who is a spouse under the tax laws, and why does it matter? Riding the market waves Take care if you sell your home after leaving Australia Separation and divorce: CGT consequences…and relief Setting up an SMSF: Who can join the fund? “Debt recycling”…flavour of the month   Please read our Newsletter here: GARTLY-September-2024   Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.

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August 2024 Newsletter

By |2024-12-17T13:59:41+11:0017/12/2024|Categories: Blog, small business, Taxation, Trade & construction|

This month features pieces on:   The importance of “tax residency” Changes to preservation age CGT and foreign residents: complex rules apply! Selling a small business operated through a company – sell the shares or sell the assets? Spouse contributions splitting Breaking up (by text) is hard to do Small business energy incentive   Our Newsletter can be found here:  GARTLY-August-2024     Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.

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Investing in Cryptocurrency by my SMSF

By |2024-12-07T12:35:51+11:0007/12/2024|Categories: Blog, Estate Planning, SMSF|Tags: , , , , |

Investing in Cryptocurrency by my SMSF is becoming an attractive option for many. With the growing interest in cryptocurrency as an asset class, many SMSF (Self-Managed Superannuation Fund) trustees are exploring the potential of digital currencies like Bitcoin and Ethereum to diversify their portfolios. While Crypto can be an exciting investment, managing it within an SMSF has unique challenges and compliance requirements. Cryptocurrency investments in an SMSF environment raise issues such as trust deed considerations, compliance, storage methods like cold wallets, and how to sell crypto assets effectively. Whether you're just starting or looking to refine your approach, these insights [...] READ MORE

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Can I run my business as a partnership

By |2025-09-30T19:25:03+10:0018/11/2024|Categories: Blog, Taxation|Tags: , , |

Running a business as a Partnership or as a sole trader, you need to tread carefully. These simple entities are popular, as they are easy to set up. They are also simple to manage and have fewer complications than a company or a family trust, making reporting easy to prepare. However, partnerships are most suited to businesses operated by family members, individuals or those working on a small scale. Partners in crime - mates don't always make good business partners It's worth noting that a partnership can be formed between individuals, trusts, or companies. A sole trader is just you. [...] READ MORE

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How to Enhance your business Value before Selling: The Ultimate Checklist

By |2024-10-30T21:17:44+11:0030/10/2024|Categories: Blog, Business growth, Exit Planning|

Business owners who enhance your business value before selling put themself in the optimised position for success . But they also face their most significant financial decisions of their business career before going to market for sale. we know that a well-prepared business can sell for 3-5 times more value than one rushed to market. A complete selling checklist helps owners maximise their business value and attract qualified buyers. The more time you spend enhancing your business value the better result you will get. Business owners can learn valuable steps to boost their business value before selling or putting their [...] READ MORE

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Trust vs Company

By |2025-08-24T16:39:09+10:0010/10/2024|Categories: Blog, Services accounting for small business, small business, Taxation|Tags: , , , |

A Trust vs Company is a decision many business startups need to consider when determining their trading vehicle. Choosing the right business structure is crucial to impacting your business operations, taxation, liability, and future growth. Family Trusts and Companies (typically Proprietary Limited or Pty Ltd companies) are two popular structures. We stress that Family Trusts are for family affairs, but suitable for non-family ownership where two non-related partners enter into a business. Trust vs Company: Each entity type has advantages and considerations, and don't be surprised if the best structure is one of each. Here's a comprehensive overview to help [...] READ MORE

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Early access to smsf superannuation when facing business stress

By |2024-09-25T13:00:43+10:0024/09/2024|Categories: Blog, Exit Planning, Services accounting for small business, SMSF|Tags: , |

It might be tempting as a business owner to take early access to smsf and superannuation.  As the economy gets tough for many small business owners, keeping the doors open can feel like a tightrope between survival and financial disaster. With this in mind business owners who also run their own SMSF are faced with these pressures, and it's tempting to access these funds. This may lead some to consider early access to smsf superannuation using the benefits of their Self-Managed Super Funds (SMSF) to keep their small business going.However, before considering this, you must grasp the serious legal and [...] READ MORE

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How to set a tradie charge out rate

By |2024-10-05T14:14:02+10:0008/09/2024|Categories: Blog, Services accounting for small business, Trade & construction|Tags: , |

How do I calculate and set my tradie charge out rate? Your charge out rate can influence if you make a profit or a loss in your trade business. There are traps to be aware of when setting your rate. Be careful not to underprice, but do not overprice unless your strategy is high-end! It's hard to get the balance right. Reviewing your charge out regularly is also important to maintain profitability. Here a couple of industry charge out fallacies Charge out rates are all the customer worries about when engaging with your services I should set the same [...] READ MORE

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Negotiating an ATO Payment Plan

By |2025-09-17T16:51:15+10:0014/08/2024|Categories: Blog, Taxation|

ATO Payment plan for tax debt and Defaulting on tax payment plans If you have an ATO debt you can’t pay upfront, you can arrange an ATO payment plan for tax debt. This is an agreement between you and the ATO where you agree to pay off your tax debt over time in instalments. In return, the ATO agrees not to use its debt collection powers against you. Obtaining an ATO payment plan for tax debt payment arrangement with the ATO is one thing. However, you need to keep the tax plan for tax debt payment arrangement on track [...] READ MORE

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July 2024 Newsletter

By |2024-07-31T18:35:14+10:0001/07/2024|Categories: Blog|Tags: , , , , , , , , , |

Our July edition features pieces on:   Division 293 tax – will you be caught? The fine line between property development and “merely realising an asset” The CGT main residence exemption concessions are very useful The secret life of TFNs Can I add to my super pension? VIEW NEWSLETTER Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.

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Business social media platforms

By |2024-09-23T18:59:32+10:0013/06/2024|Categories: Blog, Business growth, News for you|Tags: |

Which Social Media Platforms Should Your Business Use? As part of your growth and marketing strategy, you need to get your business noticed on business social media platforms. With more than half the world on social media, no business can ignore the importance of being online. Social media strengthens your connection to your target audience, builds a better brand reputation, and opens the door for new sales. Of course, it’s worth noting that there are a lot of social media platforms out there – and not all of them will be relevant to your company. Being successful with social media marketing [...] READ MORE

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Rapid business growth

By |2024-09-23T18:32:20+10:0021/05/2024|Categories: Blog, Business growth|

The Pains of Rapid Business Growth Here is a problem most business owners would love to have! Imagine facing the prospect of your business growing too quickly, making you almost unable to keep up with the pressure of customer demand. Perhaps you have envisioned expanding to another location. You may also consider expanding interstate, increasing staff, or moving into a larger premises or factory. Is this a good situation to have or not? Good growth vs. Bad Growth needs to be identified and managed. Many small business owners fail to realise that rapid business growth can result in specific [...] READ MORE

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Turn Your Small Business Goals & Dreams into Achievements!

By |2024-09-23T19:01:17+10:0017/05/2024|Categories: Blog, Business growth|Tags: |

To make small business Goals, Write them down and make them happen. Are you a small business owner with big aspirations? I am, too, but when I set my business goals, they were so secret that I couldn’t remember them. Sharing your goals can only happen if they go from head to paper. It’s time to step beyond daydreaming and take decisive action. By writing down your goals and committing to a clear plan, you’re not just setting a course for your business but taking control of its destiny. This act of empowerment can transform your business from surviving to [...] READ MORE

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May 2024 Tax planning Newsletter

By |2024-05-06T11:55:14+10:0006/05/2024|Categories: Blog|Tags: , , , , , , , , , , |

Click here to download our Tax Planning Newsletter We hope this edition provides you with valuable insights and practical advice for tax saving strategies as the 2024 financial year comes to a close. Contact us on 03 9597 9966 if you have any questions relating to matters raised in any of our Client Newsletters.

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2024 tax planning questions frequently asked

By |2024-05-01T10:53:42+10:0001/05/2024|Categories: Blog, News for you, Services accounting for small business, SMSF, Taxation|

Questions 2024 tax planning from our clients Here are some of the hot 2024 tax planning questions we have received this year about tax and 2024 tax planning. Please let us know if we can help you in any way. What are the changes in Australian tax rates for the year 2024? In 2024, the Australian Government will implement legislated tax cuts to ease the cost of living for taxpayers. Starting from July 1, 2024, these cuts will lower the 19% tax rate to 16% and the 32.5% tax rate to 30%, affecting all 13.6 million Australian taxpayers. What are [...] READ MORE

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Geoff Gartly, Chartered Accountant, SMSF specialist, Business Exit Planner and Certified Business Valuebuilder Advisor, has over 35 Years of experience working with large and small businesses in accounting.

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© Gartly Advisory Chartered Accountants 2024 
|  Privacy Policy & Website terms and conditions
| Complaints Policy |  Financial Services Guide

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DOWNLOAD OUR BROCHURE

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