Small Business CGT Concessions

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Written and accurate as at Apr 10, 2017, Current Stats & Facts Full article found here http://limitless.financialknowledgecentre.com.au/kcarticles.php?id=1211 There are currently more than 2 million small businesses operating in Australia. Their estimated combined value is $379 billion, and they employ almost 4.8 million people*. Small business entities can include sole traders, partnerships, trusts and companies. If you are considering selling a small business or the assets it uses, you may be eligible for a range of CGT concessions to help reduce the taxable capital gain associated with the sale, which could mean more money available to you either now or in retirement.     Importantly, you can apply as many CGT concessions as you are entitled to until the capital gain, associated with the sale, reduces to nil. Below we discuss the eligibility criteria as well as the four CGT concessions that may be available to you when considering the sale of an asset.   Eligibility for CGT concessions
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EOFY Planning: Tax and Superannuation Strategies

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Written and accurate as at Jun 10, 2017, Current Stats & Facts Full article found here http://limitless.financialknowledgecentre.com.au/kcarticles.php?id=1276 As we approach 30 June, there are several end of financial year (EOFY) planning strategies you may wish to consider. Whether these are appropriate for you will depend on your financial situation, goals and objectives. Some of these strategies may help: 1. Reduce your tax bill 2. Build wealth for retirement 3. And, further your philanthropic endeavours (support of charitable organisations).   Maximise your superannuation contributions  As we discussed in our recent article, ‘Capturing the super cap limit deadline’, some of the biggest EOFY planning considerations centre on the fact that the superannuation contribution framework is changing. For example, from 1 July 2017: The concessional contribution cap limit will drop to $25,000pa, regardless of your age The non-concessional contributions cap limit will drop to $100,000pa, and the maximum bring-forward rule will reduce to $300,000. As
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2at Startup March Business of the month

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April Business of the Month HA Accounting’s April Business of the month is 2at Startup, which is a supportive platform and online resource for entrepreneurs and small businesses alike in startups.  Based in Southbank, Melbourne and serving nationally, Toni helps educates others about what makes a great brand both on and offline. Toni is all about telling your story through your branding, and communicating it effectively and strategically through your digital presence, also offering website design. 2at’s biggest piece of advice for tackling a social media presence for business is to understand your target audience profile wholeheartedly and from there, then you can start to understand what platforms they are on, which are ultimately the ones you should be on. Another tip, around Instagram (or any platform) for business, is to make sure you have a strategy around social media, the key is to learn how to tell stories strategically through
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HA Accounting’s January 2018 Xero business of the month

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HA Accounting & Limitless Financial Services Xero Business of the Month is Dairy Farmers Tony & Elise Hayes (Llandovery) HA Accounting’s January Xero Business of the month is Llandovery who are Illawarra dairy farmers. These guys put their blood sweat and tears into their cows and especially this time of year with International Dairy Week in Tatura. They have handled the changes in their dairy industry by tackling their problems head-on. Everyone knows dairy farmers have been doing it tough however they were not afraid of change and to try new things to help cashflow through one of the industries toughest couple of seasons. The business is now fully automated on Xero from payroll, super streaming and transactional data. The change from cash flow manager was a tough one and especially in an industry that isn’t renowned for changing. However, 2 years in and Elise now saves close to 2-3 days a
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The Travelling Podiatrist New Business Launch

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At HA Accounting, we like to support and help our new clients establish small businesses and guide them on the path to be successful, the first and most valuable thing to know when you are starting your own business is that you need to build a support team around you. We here at HA Accounting can help be that team and help you build your business by getting off on the right foot. One of our clients Scott Aldred has just launched a travelling podiatry service, which will service the Albury-Wodonga region, Tocumwal, Finley, Euroa, Benalla and Howlong. Scott aims to provide affordable, convenient and professional home podiatry services to his clients. The team at HA like to see professionals coming back and working in regional communities. Scott is based in Albury and has just completed his Bachelor of Podiatric Medicine in 2017 at Charles Sturt University and delivers quality care
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Season Greetings to all our wonderful clients

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The team at HA Accounting would like to thank you all for your support throughout the year. We have tripled in size in our client base and staff and this wouldn’t have been possible without our clients so thank you. Its been enjoyable to watch our clients thrive this year and receive all the referral support upon establishing the business in Tocumwal, Albury & surrounding areas. We look forward to our Albury office moving into our new business premises in Lavington, updates will come early next year. Zac would like to wish all his clients a wonderful break and is going to be working hard over the Christmas period to launch Limitless Financial Services to branch alongside HA Accounting to help support all our clients financial planning needs with some key personnel joining the team in 2018. He says to watch this space. Laura, Steph & Regan have really loved getting
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HA Accountings Business of December is That American Flair

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December business of the month. HA Accounting’s December Business of the month is That American Flair, who are professional painters with 30 years’ experience in painting residential and custom made homes, for fine exterior and interior finishes. Chris and Michael service the Albury-Wodonga region and surrounding areas, the crew at That American flair Painting can give your house or investment a new face lift by painting your garage doors, aluminium window frames and roofs at a fraction of the price to replace them.  Chris offers the highest quality professional and personalised painting with elegance, charm and beauty for all styles and occasions, producing ultimate an finish in your house that will go beyond your expectations. That American Flair are Xero users, which allows them to take easy control of their business finances, giving Chris, a big sense of relief knowing that his books and compliance obligations are being met. As a result,
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HA Accounting’s Xero Business of the Month is Killaboost Manifolds

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Novembers Xero Business of the Month HA Accounting’s November Business of the month is Killaboost Manifolds, who specialise in LS turbo manifolds, and stock and sendmanifolds to suit everything from VC to VE LS powered vehicles. If you’re also after something custom for your vehicle, Darcy Stafford and his crew are very capable of building what you’re after. Located in Lavington, Darcy has put in many hours and long days working hard to build his business up and produce the best quality manifolds for his customers. Darcy has taken full advantage of Xero a cloud based software, which has allowed him to spend less time on administration work, creating and keeping track of invoices more efficient and improvement of his cash flow. Checkout our blog on why you need a Xero Accountant. Xero software has improved Darcy’s cash and work flow, and with this improved workflow has led in Darcy being able to
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