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26-Jun-2017 GoRoster

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Common mistakes made when calculating payroll costs

Knowing what your payroll costs are – daily, weekly, monthly and yearly – is an important part of running a successful business.

26-Jun-2017 SimproGroup

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How Elon Musk’s neural lace could change your business

In April this year, Elon Musk (CEO of Tesla and SpaceX) publicly announced that his company, a startup in California, Neuralink, is developing a neural lace technology that will enable human beings to communicate with devices through their thoughts alone.

26-Jun-2017 Employment Hero

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HOW IMPROVING EMPLOYEE ENGAGEMENT CAN BOOST YOUR BOTTOM LINE

Look at a company with a reputation for strong employee engagement and you’ll find a high performing business. We’re not making this up.

26-Jun-2017 Vend

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How to Prevent and Handle Robberies and Theft in Retail

Are you equipped to handle retail theft and robberies? Whether you answered yes or no to that question, keep reading.

26-Jun-2017 Vend

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How to Upsell and Cross-Sell in Retail: 6 Pointers to Implement in your Store

Picture this: You’ve just about closed a sale, and the shopper made up their mind to buy a product. What do you do?

26-Jun-2017 GoRoster

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Investing in staff training is an investment in your business

Staff training is one of the best investments you can make for the future success of your business.

26-Jun-2017 Neto

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REDEFINING YOUR POINT OF SALE WITH A MODERN POS PLATFORM

It doesn’t matter how large or small your store is, or how many of them you’ve got—if you’ve got a point of sale (POS), you’ll see big benefits in switching from a simple cash register to a full-featured, cloud-based POS platform.

26-Jun-2017 Unleashed

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Small-Man-Syndrome: How SMEs can be successful on a global stage

Small and Medium-sized Enterprises (SME) are companies that are independently owned and managed with less than 250 employees in their ranks and bringing in less than 50 million euros per year.

26-Jun-2017 Float

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The Best Xero Accounting Add Ons For 2017

How do you know which Xero Accounting Add Ons to use?

26-Jun-2017 Employment Hero

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THE HAPPINESS FACTOR: 6 TACTICS FOR IMPROVING WORKPLACE PRODUCTIVITY

Remember the old (and slightly misogynistic) phrase Happy Wife, Happy Life! ? Well, it turns out there is a workplace equivalent: Happy workers, productive business! (and no – we couldn’t make it rhyme).

26-Jun-2017 Neto

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THE SIMPLE WAY FOR CUSTOMERS TO BUY NOW AND PAY LATER

When a visitor spends time browsing your online store or bricks-and-mortar outlet, they’re looking for something. And when they find it, they’ll be tempted to buy it.

26-Jun-2017 Vend

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Three Lessons Retailers Can Learn from Craft Brands

Retailers have historically dominated the commerce landscape. Several years ago, industry trends and top products were set by the stores selling them.

26-Jun-2017 Unleashed

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Why Accurate Costing is Vital for Success

Inaccurate information about your company’s expenditure can greatly inhibit your capacity to make and maintain a successful business.

25-Jun-2017 SimproGroup

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5 tips for becoming your own boss

The idea of starting your own business and being your own boss has become more popular in recent years.

23-Jun-2017

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Your 2017 EOFY Tax Minimisation Tips

Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and after 30 June. Some of these will help to minimise your tax. We have outlined these action points below to assist you.

17-May-2017 EmploymentHero

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Accountants and Advisors at Risk of Accessorial Liability

If you’re an accountant or professional advisor, take heed of a recent decision by the Federal Circuit Court. You may be at risk of accessorial liability for your clients’ breaches of the Fair Work Act.

16-May-2017

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Support available to help your small business grow

Are you wanting to start a small business or looking to expand your existing small business?

To help you find government initiatives and support that can drive growth and success in your small business, check out the newly launched online tool. The tool lists a full range of initiatives and support available for your small business all in one place.

16-May-2017

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Warning about misleading R&D tax schemes in the wine industry

Are you a grape grower and wine producer or tax advisor who advises grape growers and wine producers on the R&D Tax Incentive?

While most businesses and tax advisors do the right thing, the Australian Taxation Office (ATO) and Department of Industry, Innovation and Science (DIIS) has issued a warning to tax advisors who have been improperly advising businesses on the R&D Tax Incentive.

15-May-2017 EmploymentHero

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4 Legal Minefields to Avoid When Terminating Employment

Firing employees is probably one of the hardest things you’ll ever have to do as a business owner. It’s also one of the most litigious.

15-May-2017 EmploymentHero

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7 Common HR Mistakes Every Business Owner Can Avoid

Running a business is hard and it often feels like there aren’t enough hours in the day to get everything done that you want (or should) do. By the time you pay your bills, invoice customers, return calls, put the final touches on that big proposal, and get the stock order out, the day is over and it’s time to pick up the kids.

15-May-2017 Vend

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Want to Create Amazing Customer Experiences? Learn From These 4 Homeware Stores

The homeware and furniture industry has been doing well for the past couple of years, and we expect this trend to continue. The annual expenditure on furniture per US consumer was $502 in 2015 (up from $386). Meanwhile, a report by Furniture Insights found that furniture orders for February 2017 were up 4% from last year.

14-May-2017 Vend

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8 Important Lessons Brick-and-Mortar Merchants Can Pick Up from Ecommerce

Some brick-and-mortar merchants see ecommerce as the force that’s grabbing market share and taking customers away from offline stores. We don’t think this is the case. The way we see it, physical and digital retail aren’t rivals — they’re allies.

14-May-2017

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Maximum and minimum hours – striking a balance

Striking the right balance between maximum and minimum hours for your part-time or casual staff can often be a difficult process. But getting the balance wrong can have serious and long-lasting ramifications for your business.

14-May-2017 James & Wells

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What do Netflix, Kiwi innovators and a small town in Texas have in common?

The short answer is patent trolls. The long answer is that using cloud computing to do business may get you sued by patent trolls in the District Court for the Eastern District of Texas.

11-May-2017 Float

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How Isle Of Skye Candles Reinvested For Growth With Float

The Isle of Skye Candle Company’s first batch of candles was made in a converted croft on the Isle of Skye in 2006, and since then the company has been lighting up across Scotland and the UK.

11-May-2017 Unleashed

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Inventory Strategy: Where to Start

As a small to medium business owner, getting your inventory management right can sometimes seem like a daunting endeavor. Fortunately, most of the stress involved in developing good inventory practice can be resolved by identifying the right inventory management strategies for your business. That’s not to say that there’s an immediately obvious solution for every problem – there are some tricky issues in inventory management however there are well-documented strategies to help you get the basics right.

11-May-2017 Unleashed

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The Importance of Accurate Costing

It’s no debate that the world is becoming increasingly globalized. Despite some barriers to entry into international business, geographical expansion and the use of imports and exports has become easier and more prevalent. Regardless of the size of a business or where it chooses to operate, one necessity remains constant, and that’s the need for accurate costing.

11-May-2017 simPRO

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When sales and service team up, profits go up

I’ve heard it said that it’s a sales rep’s job to promise the moon to customers, and it’s a service rep’s duty to bring customers back to earth.

10-May-2017

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Everything You Need to Know About Influencer Marketing For Your Online Store

The field of marketing never stops evolving. Outdated strategies lose popularity and are soon overtaken by innovative approaches that pair tried-and-tested techniques with new technology. One of the latest strategies is influencer marketing, which takes word-of-mouth advertising and amplifies it through the huge social networks of high-profile individuals. Two-thirds of marketing professionals worldwide are pairing with influencers who can create original content to promote the brand to thousands or even millions of social media followers.

10-May-2017 Neto

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The Power of Collaboration For Marketing Your Business

Collaboration is the key to success for every business—that’s what 75% of CEOs believe. It’s a way of bringing together diverse minds and ideas and sharing resources to create something bigger and better than individuals could achieve alone, and it’s gradually becoming the status quo for modern businesses in all sectors, including retail.

10-May-2017 Unleashed

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Trade Barriers: Mitigate the Impact on your Business

It can be unwelcome news that the success of your business is, in part, out of your control. If your business involves importing or exporting inventory, it pays to be aware of and be prepared to mitigate potential impacts of trade policy on your business.

27-Apr-2017

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Do you have your tax debts under control?

From 1 July 2017, a new tax measure will come into play for small businesses, and we’re here to help prepare you for this tax change.

26-Apr-2017

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Everything you need to know about email marketing for your ecommerce store

Over the past decade, social media platforms have grown in popularity and digital marketing has become one of the dominant ways for brands to interact with their customers. But digital marketing is more than just social media and, after all these years, email marketing is still one of the best ways to keep your customers informed and interested in your brand.

20-Apr-2017

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“Let me tell you how it will be”: What the taxman can teach you about getting paid on time

I recently overlooked a GST bill.

The taxman is not okay with that. He wants his money. And fair enough; I want free healthcare and the other benefits of being a taxpayer.

18-Apr-2017

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Watching China in 2017

China-watching is mandatory for many people in business.

The world’s most-populous nation looms large on the global stage in politics, commerce and sport. Its 300 million aspiring middle class citizens – still a small part of the total population - are increasingly sophisticated in their consumer activities, travelling a lot more and further, and pursuing business interests on all continents and the South Pacific region.

17-Apr-2017

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Key management skills to grow your business

Many small business owners start out with a good business idea but little concept of what it takes to manage and grow a business.

The good news is that you can definitely learn and improve your management skills as your business grows.

And while there isn’t a definitive list of skills, the ones we’ve listed below could help you to build your initial vision and develop your business to its full potential.

17-Apr-2017

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Top 7 Tips for Finding the Right Business Software

You almost certainly started your business for one of two reasons: you can do something better than anyone else, or you have a burning passion so deep you cannot focus on anything else. And if you’re lucky, it’s both. You didn’t start your business because you wanted to track cash moving in and out of your bank account. Nor to complete complicated forms for the government. You hadn’t even contemplated how business software could help you do these tasks, mostly because you didn’t know you need to do them.

16-Apr-2017

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The Elephant in the Warehouse – Inventory Carrying Costs

It’s time to address a subject that a lot of companies fail to notice or incorporate into their business planning – the costs of carrying inventory. Inventory costs money to purchase, this much is a given; however the cost of the inventory goes far beyond that. Typically, (if accurate values are not calculated on a case-by-case basis) the total carrying costs of a product are 25% of its value and composed of capital costs (15%), storage costs (2%), servicing and handling costs (2%) and the cost of risk (6%). Let us look at these different components of inventory carrying costs more closely.

13-Apr-2017

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How to write copy for your ecommerce store that converts

If you had just one minute to talk to a prospective customer in your store, what would you say? Would you help them find what they were looking for? Tell them about your current promotions? Encourage them to stay a little longer and take a look around? After all, the more time they spend in your store, the more likely they are to make a purchase.

09-Apr-2017 Neto

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How to keep your customers coming back to your ecommerce store

Attracting new customers to your ecommerce store is a must if you’re going to make a profit, especially in the early years of running your business. It’s one of the best ways to boost your sales in the short term, and grow your store. But there’s a lot of effort involved in acquiring new customers—it can cost six times as much as retaining your existing customers—so it seems like a shame to let them disappear off the face of the earth after just one purchase.

09-Apr-2017

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Social media: are you using it for your business?

Social media is a great tool; it’s a route to new and different customers and a direct way of communicating with your existing customers. It’s also a free way to build brand recognition and create a name for yourself in your field.

So it’s surprising that many businesses still don’t have a social media presence. Sometimes this is a conscious decision, but quite often it’s due to people not always understanding the benefits.

The reality is that social networks can bring a whole new dimension to your business – and they’re definitely a marketing tool worth using to your benefit.

09-Apr-2017

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Understanding Perpetual Inventory

A perpetual inventory system is also known as a continuous inventory system. The premise of this type of inventory system is that is allows businesses to keep a real-time account of what inventory they have in stock.

09-Apr-2017

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Vend and Square bring partnership Down Under for growing Australian retailers

From today Australian retailers will have more choice in the way they run their business and sell to customers. Vend and Square’s market-leading POS and payments integration, first launched in the US late last year, is now available in Australia. This collaboration brings together two of the best systems for retail today, and provides more options for advanced retailers, those with multiple locations, and complex operations.

06-Apr-2017

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Feedback: why your business needs it, and how to get it

Your digital presence as a business is absolutely crucial. If you want consistent work, to build trust in your brand, and the opportunity for growth, you have to know how to gather feedback, and how to embrace it.

Here, we’ve laid out the most important things you need to know about doing just that.

06-Apr-2017

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How excessive percentage-based fees can warp risk and return

Investing is all about risk and return: get the balance right and be handsomely rewarded.

The structure of percentage-based fees often tips those scales in favour of investment platforms and fund managers. Once their asset base grows large enough to cover operating costs, natural market growth and guaranteed inflows create enormous profits, no matter what the outcome for investors.

06-Apr-2017

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Review of TSheets – Employee Time Tracking Software

Struggling to keep on top of employee timesheets? Want to offer employees a simpler way to clock in and out? Keen to track remote workers’ location throughout the day? Eager to make payroll easier? TSheets, a mobile employee tracking software, is here to help.

04-Apr-2017

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7 SEO strategies for your ecommerce site

Your online store is set up and ready to go. You’ve got an attractive site design and helpful product pages, and you’ve promoted your launch through social media and email marketing. Now all you have to do is sit back and enjoy…but you’re still not seeing the traffic you hoped for. What’s going on?

04-Apr-2017

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Common mistakes made when calculating payroll costs

Knowing what your payroll costs are – daily, weekly, monthly and yearly – is an important part of running a successful business. It allows you to forecast future wage costs, ensures you don’t have any surprises come pay day, and gives you confidence in the stability of the business.
But do you know the TRUE cost of your roster?

04-Apr-2017

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Field Service Management – Out from the Shadows

Colour-coded job sheets on clipboards. Customer details stuffed in manila folders. Rooms full of grey filing cabinets overflowing with clip-lock files. Cardboard boxes bursting with service manuals arranged in rough alphabetical order. Handwritten notes, 8am sales meetings in sweaty city offices and well-thumbed street directories in company-car gloveboxes.

04-Apr-2017

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Managing your workplace health and safety

Safety doesn’t happen by accident. As a business owner or director, you need to be deliberate to make sure everyone who comes to work goes home healthy and safe.

07-Feb-2017

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The biggest changes to super in a decade – how to capitalise now! Major changes to tax and superannuation have just been approved by the Government in early December 2016.

These are the biggest changes in the last 10 years. They are significant.

01-Dec-2016

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How to get the most from your accountant

The best accountants add value to your business – here’s how to make sure your accountant is ticking all the boxes.

08-Nov-2016

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How to not lose your family wealth?

Family wealth can take a lifetime to accrue, but can also disappear in an instant through poorly considered generosity.

06-Oct-2016

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What do the new tax tables mean for you, come 1 October?

The Australian Tax Office (ATO) have released new tax tables that will take effect next week – whether you pay wages or receive a regular wage, here are some tips to get you ready for the changes.

13-Sep-2016

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The best accountants add value to your business, all for an affordable cost that you can control

Growing businesses rapidly find they need the services of an accountant in order to help them manage the finances of their business. But which services do you actually need, how should you pay for them, and how do you make sure you’re getting good value for money?

18-Aug-2016

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Don’t Roll the Dice – Take HR Seriously!

Do you run a business with employees? If yes, then we can guide you to take care of your Human Resources (HR) the EASY way.
Don’t get caught out. If you answer ‘Yes” to any of the below you may not be legally compliant and may be exposed. Contact our expert Accountants TODAY to have an obligation free discussion around how we can help you.

20-Jul-2016

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Claiming home office expenses in your 2016 tax return

Many aren’t aware that they can claim home office expenses. Whether your self-employed, a business owner or an employee - do you perform some of your work from home? If you do, here is a quick summary of the tax rules, and what home office expenses are allowed.

23-Jun-2016

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Last Minute 2016 EOY Tax Minimisation Tips

Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and just after 30 June. Some of these will help to minimise your tax. We have outlined these action points below to assist you.

14-Jun-2016

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2016 Federal Budget Update

On Tuesday, 3 May 2016, the Federal Treasurer, Scott Morrison, revealed his first Federal Budget. The Budget announcements include some major superannuation tax changes, and other measures which impact individual income tax, small businesses, and corporate taxation.

27-Apr-2016

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An Eye for Now, an Eye for the Future

Let tax planning be more than just getting a bigger refund!
It’s the last quarter of the financial year. It’s the best time to review your profits, estimate your tax bill and determine what you can do to get your tax bill as low as possible (or your refund as high as possible).

23-Mar-2016

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FBT 2016: 5 Things Every Business Should Know

How do I know if I need to pay FBT? What is exempt from FBT? And what to be aware of come 1 April 2016. The FBT rate increases from 47% to 49% from 1 April 2016. Employers need to take this new rate into account with current or new salary packages with employees.

22-Feb-2016

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SuperStream Deadline Approaching!

The new way of processing Superannuation Payments is almost here.
In its bid to streamline the processing of transaction for superannuation funds, the ATO has introduced SuperStream. The main aim of SuperStream is to ensure employer superannuation contributions are paid in a consistent, timely and efficient manner.

02-Feb-2016

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Give your Super a Boost!

An alternative way of building up your retirement savings.
While most of us will hopefully accumulate enough superannuation throughout our working lives to have a comfortable retirement, many of us simply won’t have the funds there to splurge on something nice every now and then.

16-Dec-2015

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BEWARE!!! ATO Scams - How to verify and report a scam

What you NEED to know about the increasing number of scams people and business are facing. There are a number of tools you can use to ensure you are not caught up!

03-Dec-2015

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Work Christmas Party... What is deductible and FBT liable?

It is that time of year again; time to kick back or get on your groove thang!
But what are the tax implications of our staff Christmas party?

24-Nov-2015

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Keep Your Family Wealth in Your “Bloodline”

Are you aware that if any of your children have a failed relationship, their share of your family wealth could end up going to another family?

23-Nov-2015

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Buying property through your Super?

Property is the most trusted asset class for Australians, yet only around 3.5% of all SMSF investment is in residential property according to the latest ABS report).

23-Nov-2015

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What does FREEDOM mean to you?

We ask you take a minute or two and ask yourself – What does FREEDOM mean to ME?

23-Nov-2015

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Refinance to a “Split Loan” & Reduce Your Tax

Let the BWD team show you how to save tax on your home loan (and get the BEST interest rate)…

To create wealth, you should try to pay off non tax-deductible loans as quickly as possible (before you start to pay off any tax-deductible debt).

19-Nov-2015

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Would you like more CONTROL over your retirement savings?

Is an SMSF right for you?

Self managed superannuation funds (“SMSF”) account for over 30% of all superannuation assets in Australia and continue to be the fastest growing sector within the industry.

19-Nov-2015

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10 Rules for Successful Property Investment

Many of our clients are asking us about property investments, and the best way to structure these in order to reduce tax.

21-Oct-2015

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The Two Biggest Expenses You Will Ever Have

The two biggest expenses you will ever have, and
You’ll want to make one BIGGER…

09-Oct-2015

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Getting Tech-Savvy

Technology is rapidly changing the way we do business. Many businesses are getting rid of the pen and paper for a tablet, or running their business from a laptop instead of a cashbook. It is something we are utilising here in our firm – and we are LOVING it!

09-Oct-2015

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Keeping your Business Alive

What’s your strategy to keep cash flowing through your business?

High sales and consistent profits are great aspects to have in your business, but without cash rolling in regularly you won’t be able to pay your suppliers, staff, even yourself! Give yourself some security by preparing a Cash Flow Forecast for your business.

09-Oct-2015

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More Bang for your Buck

Start planning NOW to maximise your tax refund next year!

We do a lot of tax returns. One thing we constantly hear our clients say is “I didn’t know I could claim that!” or “I wish I had kept my receipts!”
What’s the best way to avoid disappointment at tax time? Start planning NOW.

09-Oct-2015

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Steps to Success

Business owners are always great at what they do. They know their business inside and out.
But what happens when it’s time to sell your business? Do you have the results you need to justify the price you want?

16-Mar-2015 BWD

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CommSec: Australia is poised for more economic growth

CommSec: Australia is poised for more economic growth