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Carry Forward Concessional Contributions Tax Planning Strategies for 2025

By |2024-12-31T10:20:16+11:0031/12/2024|Categories: Estate Planning, Services accounting for small business, SMSF, Taxation|Tags: , |

Carry Forward Concessional Contributions can assist in your tax planning strategy for 2025 . As a small business owner, navigating the tax landscape can save money and help you grow your financial future. One area worth exploring is carry-forward concessional contributions. This tax strategy enables you to boost your retirement savings while potentially reducing your tax liability, especially for those in their 50s who have not had sufficient cash flow to contribute in the past. We also use the strategy for those one of big tax bills, such as capital gains, that can sometimes help dilute your tax bill. What [...] READ MORE

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Trust Vs Company – what is the difference

By |2024-10-11T10:22:04+11:0010/10/2024|Categories: Blog, Services accounting for small business, small business, Taxation|Tags: , , , |

  A Trust vs Company is a decision many business startups need to consider Choosing the right business structure is crucial to impacting your company's 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 business. Trust vs. Company: Each entity has advantages and considerations, and don't be surprised if the best structure is one of each. Here's a comprehensive overview to help you make an informed decision:What is a [...] 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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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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Proactive tax planning Accountant help

By |2024-04-07T12:10:31+10:0007/04/2024|Categories: Blog, Business growth, Services accounting for small business, Taxation|Tags: , , |

Working with a proactive tax planning accountant can deliver great tax-saving results. Small business tax planning is crucial for managing your finances effectively. You should implement smart tax strategies. That's why our clients like working with a proactive tax planning accountant. We can help you to maximise your savings, reduce tax liability, and improve your financial position. Proactively planning your taxes will help you legally minimise the tax you owe and optimise your financial resources.Effective tax planning helps you manage cash flow more efficiently. By understanding your tax obligations in advance, you can plan for upcoming expenses and ensure sufficient [...] READ MORE

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Selling my commercial business property!

By |2024-02-12T16:09:36+11:0010/01/2024|Categories: Blog, Exit Planning, Services accounting for small business, SMSF|Tags: , , |

How do I sell my commercial business property? When selling your business, your business operations and HQ are an essential and strategic part of your business. Most businesses operate from a premise of some sort, so when it comes to exit planning, your decisions on what to do with your business premises is equally important as one of the essential items that require serious discussion and planning. When it comes to planning, the first thing to do is to review how and what you use your office, factory shop, etc., as part of the business on a day-to-day basis. For [...] READ MORE

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October 2023 – Client Newsletter

By |2023-10-06T12:35:55+11:0006/10/2023|Categories: Blog, Services accounting for small business, Taxation|Tags: , , , , , |

Our Client Newsletter this month includes articles about: Property development – recent Federal Court decision Small Business skills and training boost CGT Small Business concession Post-tax personal Super contributions - benefits Click here to download our October 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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How to detect about your cheating in business by your business partner

By |2024-02-19T13:43:37+11:0027/08/2023|Categories: Blog, Dispute management, Services accounting for small business|Tags: |

Cheating in business happens more than we like to realise.Trust in business is the foundation upon which successful partnerships are built. Without trust, a business partnership is like a house of cards that is vulnerable to collapse at any moment. As a business owner, it is crucial to understand the significance of trust. Cheating in business has detrimental consequences when your business partner isn’t on doing the right thing!In business, we see Trust in business as believing that your partner will act in your best interest with integrity and honesty. It means relying on their actions and knowing that they [...] READ MORE

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Should I Pay a Dividend from my company or Keep the Profits in My Company?

By |2023-07-06T05:50:43+10:0001/04/2023|Categories: Blog, Business growth, Services accounting for small business|Tags: , , |

‍ Dividend vs keeping the profits in retained earnings Should I pay a dividend from my company? When it comes to running a successful business, 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? It's a question that many business owners struggle with, and there's no one-size-fits-all answer. We argue that paying dividends is a great way to reward the owners. Others believe that reinvesting profits is the key to long-term growth and [...] 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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Small business cashflow

By |2024-02-19T16:42:25+11:0026/07/2022|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 that [...] READ MORE

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Brighton Accountants

By |2024-02-27T15:47:15+11:0027/01/2022|Categories: Services accounting for small business|

Brighton (3186) accountants are here to help based in Ormond! Gartly Advisory are Accountants based in Ormond, Melbourne. While we are not based in Brighton 3186, many of our clients are! Accountants that help Brighton Small business You need a professional Chartered Accountants group that will offer you a professional quality service to assist you and your business to grow. Our clients are based all around Melbourne and we have a great selection of clients based in Brighton. Also, we have clients located in the nearby Bayside suburbs. Clients love our service because the team at Gartly Advisory ensures that we provide [...] READ MORE

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Do you need a Proactive Small Business Accountant based in Melbourne?

By |2022-01-27T06:23:14+11:0023/01/2021|Categories: Services accounting for small business, Uncategorized|

When you need a  Small business accountant who can provide you with advice that you can act on, talk to Gartly advisory Small Business Accountants Gartly Advisory is a passionate small business accountant. We help the businesses that grow and provide you with timely information to work fast in this challenging environment. Taking a proactive approach to your needs, we can work with you to help you meet your taxation and business advice needs Our team can help you make sure your accounting system runs like a racing car, ready for the following formula one. Accounting software no worries we [...] 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

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

Geoff Gartly Advisory Icon

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DOWNLOAD OUR BROCHURE

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

Geoff Gartly Advisory Icon

DOWNLOAD OUR BROCHURE

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