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Estate Planning and SMSF : Leveraging the Power of SMSF

By |2024-02-19T15:17:18+11:0029/04/2023|Categories: Blog, Estate Planning|Tags: , |

Estate planning and SMSF can play a large role when it comes to Estate planning, which is an often-overlooked aspect of financial planning when executing your Will, superannuation, and wishes. Estate planning determines how your assets will be distributed once you pass away. However, estate planning can be complicated and overwhelming, which is why Self-Managed Super Funds (SMSFs) have become popular. SMSFs are a powerful tool for estate planning and managing your retirement savings.Whether you're new to estate planning or simply looking for a more efficient way to manage your assets, leveraging the power of SMSF can help you achieve [...] READ MORE

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What a buyer looks for when buying a small business

By |2023-04-10T01:26:21+10:0010/04/2023|Categories: Blog, Exit plan|Tags: , |

When buying a small business, a buyer typically looks for several key factors to ensure the purchase is a good investment. Here are ten things that a buyer might look for in the decision process: Financial performance: The buyer will want to see the business's financial statements to get an idea of its profitability. A smart buyer will analyze the Balance Sheet for cash flow. They may also want to see the tax returns for the past few years. Talk to us at Gartly Advisory! Growth potential: A buyer will be interested in the business's growth potential. They will want [...] READ MORE

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How can I make my small business successfull?

By |2024-09-23T22:00:07+10:0008/04/2023|Categories: Blog, Business growth|Tags: , |

How can I make my small business successful is something all business owners strive to do. The road to success is not always smooth, and there are obstacles to overcome. However, with the right strategies and mindset, you can achieve your goals and thrive in today's competitive marketplace. In this article, we'll explore some key tips and tactics that can help you take your small business to the next level. From defining your niche and target audience to creating a strong brand and building a solid online presence, we'll cover everything you need to know to make your small business [...] READ MORE

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How long should I be staying around after selling my business

By |2023-04-06T21:49:51+10:0006/04/2023|Categories: Blog, Exit plan|Tags: , , |

Selling my business and how long I should be staying around after selling my business is a subjective decision. Many owners think that the exit of their business to a new owner will be simple. A business sale is not that simple. The seller often doesn't consider the implications of staying after they sell their business. How long and why will depend on your stay with what the new owner sees as perceived value. Some small business owners have the perception that, like selling a house, they will hand over the keys; in return, they will get a bag of [...] READ MORE

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April 2023 – Gartly Newsletter

By |2023-04-06T11:42:53+10:0006/04/2023|Categories: Blog|Tags: , |

Welcome to our April 2023 Newsletter. Our newsletter this month contains tax issues such as : Clarity on Trust Distributionsthe new rules on $3m Super balancesElectric cars exempt from FBTHow to Spot a Crypto ScamGST Audits and How to avoid themHow to find lost Super Press here to access our latest newsletter

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A Simple Business plan that works

By |2023-04-08T11:22:59+10:0025/03/2023|Categories: Blog, Business growth|Tags: , , |

Unveiling the Power of a simple Business Plan for small business is Your Blueprint to Success A Simple business plan for small business helps you dream big! Are you an entrepreneur or business owner aiming to achieve success in your ventures? Do you find yourself constantly facing setbacks and challenges that just make it a little harder hinder your growth? The solution is in the power of a well-crafted simple business plan that kicks goals. A small business action plan is a blueprint that outlines your goals, strategies, and tactics to achieve success. It is your roadmap to success and [...] READ MORE

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Renovating and flipping your home for profit . The potential Tax Implications

By |2024-02-19T15:25:13+11:0011/03/2023|Categories: Blog|Tags: , |

Renovating and flipping your home can be an exciting and rewarding experience as a homeowner. However, before you embark on a renovation project to sell your home for profit, it's essential to understand the tax implications involved. After watching TV shows like the Block, are you inspired to become a property flipper?In this article, I will explore the basics of renovating and flipping your home, the ATO tax implications, and offer tips to help you maximize your profit while avoiding common mistakes. The Basics: What is Renovation and Flipping your home? Renovation is improving or updating your home, either for [...] READ MORE

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Is an SMSF setup right for you?

By |2024-02-19T15:54:04+11:0021/02/2023|Categories: Blog, SMSF|Tags: , , , |

Deciding to implement an SMSF setup is something that needs a plan if undertaken.We are observing that our clients are taking the opportunity to review their Superannuation and retirement goals, The markets are changing, and people are beginning to plan for their retirement strategy. We are receiving several questions from clients asking whether, given the current market fluctuations of their investment in the superannuation, it is a great time to take charge of your own Superannuation. Some are evaluating if it is a great time to take control by setting up a new Self-Managed Superfund, commonly known as an SMSF. [...] READ MORE

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Your exit planning journey

By |2023-02-20T10:04:33+11:0020/02/2023|Categories: Blog, Exit plan|Tags: , , |

Are you considering the future of your small business and wondering how to begin the exit planning journey? Unfortunately, many small business owners are in the same position as you, and it can be challenging to know where to start. However, with the proper guidance, you can create an exit plan that will ensure the success of your business and add value along the way. A well-thought-out exit plan will help you make the transition to the next phase of your business life much smoother. Here are some tips to help you start your small business's exit planning journey. What [...] READ MORE

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Cost reduction and Maximizing Profit in Your Business

By |2024-02-19T15:39:40+11:0008/02/2023|Categories: Blog, Business growth|Tags: , |

Cost reduction by reducing expenses means great profits, right or wrong? What is Cost Reduction & Why Is It Important for Business Owners? Cost reduction is one of the most important aspects of running a successful business. It can help businesses save money and increase their profits. But doing it correctly will achieve great results for your bottom line. Expenses slashed for the sake of it may be detrimental. As a business owner, you need to be aware of different cost reduction strategies and how they can help you achieve your goals. By understanding the basics of cost reduction, you [...] READ MORE

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5 Steps to Make Your Business Sale Ready and Increase Its Value

By |2024-02-19T15:43:22+11:0001/02/2023|Categories: Blog, Services accounting for small business|Tags: , |

Is your business sale ready for that next opportunity? Selling a business is a complex process, but it doesn't have to be overwhelming. With the right strategies and preparation, you can maximize the value of your business and make it sale ready. Selling a small business can be a daunting task, but with the right exit plan and growth strategies, you can make sure that you get the best deal possible. Retirement may seem like a distant goal, but with careful planning and the right resources, it can become a reality. Let's explore how to get your small business sale [...] READ MORE

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Sales tools for small business

By |2024-02-19T15:48:16+11:0003/12/2022|Categories: Blog, Business growth|Tags: , |

Effective Sales Tools for the small business smart checklistDo you use tools that help grow sales in your business? Sales are the lifeblood of any business. Yet how many of us have had training in closing a sales deal as small business owner? With a new year about to start, it’s time to review your sales process and help your business grow. Set a budget that you and the team can aim for in 2023 Working with your customer The art of selling is to focus on the prosperity and happiness of your customers! “Don’t bother telling the world you [...] READ MORE

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SMSF and commercial property

By |2024-02-19T15:58:23+11:0002/10/2022|Categories: Blog, Estate Planning, SMSF|

SMSF and commercial property is an investment often held by an SMSF and is a good strategy. Is holding your business premises, Factory or shop in an SMSF a good strategy? Allowing your SMSF to hold your business real property is a fantastic opportunity for the small business owner to isolate its business asset from the main trading company. It also means you can become a long-term tenant of your SMSF. There are some distinct advantages for both estate planning and long-term protection strategies of your asset in an SMSF. Any property strategy it must be done properly and there [...] READ MORE

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Reminder: new .au domain names – have you got yours register your business now!

By |2024-02-19T16:06:21+11:0006/09/2022|Categories: Blog|

.Au domain names are here. On 24 March 2022, anyone with a local connection to Australia (including businesses, associations, and individuals) has been able to register a new category of domain name known as au These shorter, more straightforward domain names end in .au  NOT, com.au and effectively create 2 domain names These will than .com.au, .net.au, .org.au, .gov.au or .edu.au. Do you have a “.com.au” domain name? Existing domain name.com.au license holders have been provided priority to register the .au direct equivalent of their domain name until 20 September 2022, After this date, any domain names that have not [...] READ MORE

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

By |2024-02-19T16:16:00+11:0031/08/2022|Categories: Blog, Business growth|

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 [...] READ MORE

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What to do when a loved one dies?

By |2024-02-19T16:34:39+11:0001/08/2022|Categories: Blog|

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. https://youtu.be/Ike688p601A

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Small business cashflow

By |2025-10-02T17:17:06+10:0026/07/2022|Categories: Blog, Business growth, Services accounting for small business|Tags: , |

Small business cashflow is so important. This is highlighted in this week's Accoutantsdaily article about cash flow. What's highlighted is an enormous gap for many small businesses. The last 2 years have highlighted major issues for small businesses and cash flow is one on top of the list. Small businesses have been plagued by closures and staff absenteeism due to Covid. This can account for why some businesses' cash flow is facing an uphill battle in recovery. But there is also a fundament lack of planning by some small businesses. Not knowing where you going is like a hose [...] READ MORE

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Am I a share trader for tax purposes?

By |2022-06-10T06:54:15+10:0010/06/2022|Categories: Blog, Taxation|

A Share trader is regarded by the ATO as conducting a share trading business when it comes to reporting your tax, based on factors around how you and how often you invest. An investor is looking long term and will not frequently undertake a systematic approach. Tax law regards Share trading is assessed as income on a Revenue Account, and no Capital Gains Discount can be claimed. Share traders and tax However good news for share traders is, share losses are allowed as a tax deduction un S8-1 of the ITA997. A share trader can recognize unrealized losses and gains [...] READ MORE

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Local manufacturing

By |2022-06-03T02:44:10+10:0003/06/2022|Categories: Blog, Business growth|Tags: , |

Local manufacturing businesses based in the South East area in Melbourne such as Moorabbin and areas such as Currum Downes and Seaford can take advantage of bringing forward tax incentives to help their manufacturing business. Helping local manufacturing businesses Gartly Advisory are Melbourne Accountants based in Ormond. We love servicing manufacturing businesses. Our advice to the manufacturing businesses is that we help is to take advantage of these incentives. Modernise your systems and save tax! Manufacturing, like every business experiences growth and also tough times. We have seen that those businesses that chose to invest in new equipment and technology [...] READ MORE

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Builders and developers face uncertain times

By |2022-05-27T02:06:20+10:0027/05/2022|Categories: Blog|

Tread carefully in the coming months when planning your property development or if you are a supplier in the building construction industry Property development is rewarding except in times of uncertainty. Unfortunately, we are now facing one of those uncertain times. The last two years of working through Covid and lockdowns are impacting the construction industry. We are now seeing significant building players over the last few months into liquidation or closing. This indicates that it is the start of what may well be a tough few years ahead. Many of our clients are commenting on what they feel is [...] READ MORE

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When is a home exempt from CGT

By |2024-02-20T16:12:36+11:0020/04/2022|Categories: Blog, Taxation|Tags: , , |

Your home can be exempt from CGT providing it is your castle. You need to do a few things to make sure it meets the ATO The ATO considers several factors when determining if a dwelling is considered a client’s main residence. Various tests in relation to different factors to determine to see if you meet this test as your home. This may vary depending on the circumstances and it may be several factors. What makes a home regarded as your home and makes your home exempt from CGT? The main residence test for a dwelling is based on facts [...] READ MORE

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Your’e Net Promotor Score

By |2022-04-14T22:45:10+10:0014/04/2022|Categories: Blog|Tags: |

Measuring the love in your business - youre Net Promotor Score What is your net promoter score, and why is it essential in building value to your business?Your  Net Promoter Score, NPS affectionately referred to, is one of the most effective ways to uncover how satisfied and loyal customers are to your brand, product, or service. It's a great start towards adding creditability towards a future business sale and the love for your businessA good net promotor score is derived from detractors vs promotors.Promotors are those customers who "love "you, and Detractors are those who are just friends or not in love [...] READ MORE

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Business exit planning for couples

By |2022-04-14T22:37:54+10:0014/04/2022|Categories: Blog, Exit plan|Tags: , |

Business Exit planning for couples is an exciting opportunity but it needs to get it right. Working as a romantic couple brings pleasure, frustration, and opportunity rolled up into one package. When a romantic couple that can work together in a business bet it right their business booms. It ll comes together it's a special relationship that can build a business Planning the exit from your business as a couple is essential to get it right. Both partners are on a journey on their own life paths. Working together often can mean spending 24/ seven together. That's a big ask [...] READ MORE

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Weekly Newsletter March 31st

By |2022-03-31T07:16:00+11:0031/03/2022|Categories: Blog, News for you|Tags: , , |

The Federal Budget 2022 Here is our quick summary of the Federal Budget handed down on Tuesday. The Budget focused on keeping business and the economy going during uncertain times. It would be also be drafted with a focus on the following Federal Elellection due soon. Media reports indicate that if there is a change of Government, the ALP will publish a newly revised budget in July or August this year, which may not result in all initiatives etc., being fulfilled or modified. Here are the critical points that we believe will impact our clients:• 120 % tax deductions for [...] 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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