by Affinity | Aug 19, 2013 | Business eNews
The ATO has reminded small businesses with turnover of less than $2 million (i.e., small business entities or ‘SBEs’) that the depreciation rules for business assets are now simpler from the 2012/13 income year onwards. Assets costing less than $6,500 The small...
by Affinity | Jul 22, 2013 | Business eNews
The superannuation guarantee rate has now been increased from 9% to 9.25% (and the rate will increase gradually over 7 years to 12% by 2019). Also, the upper age limit for paying super for an employee has been removed, meaning that there will no longer be a...
by Affinity | Jul 22, 2013 | Business eNews
Succession planning is often treated as one of those things that business owners will get to “one day”, when they need to start thinking about it, usually when they decide they want to retire or realise the proceeds of many years of hard work. For many owners...
by Affinity | Jul 22, 2013 | Business eNews
“Cloud technology” has become a common term in IT jargon, but what exactly is it and how can it be used effectively by businesses. The idea of “cloud computing” is to use the internet to access software rather than physically installing it on a computer. It is...
by Affinity | Jul 22, 2013 | Business eNews
Background In this article, we will consider an essential business succession strategy, shareholders agreements. Overview While buy sell agreements can be used to address most insurable risks (such as the death, total and permanent disablement or trauma of an...
by Affinity | Jul 22, 2013 | Business eNews
With an increasing number of small business owners reaching retirement age and looking to sell their business, it is important to properly deal with all of the tax considerations to maximise the after-tax sale proceeds. For example, one tax concession that...
