Issues with success is something of an oxymoron. But that’s how it’s been and continues to be for many business owners who have managed to thrive despite the pandemic, floods and bushfires, only to find their business success has created a raft of problems they must overcome in order to continue their success trajectory. In…
While careful tax planning preparation is essential, most tax saving strategies must be completed before 30 June. The earlier we identify the issues, the more time you’ll have to consider your options, arrange your cashflow and put a plan in place for reducing or avoiding paying unnecessary tax. At P+Y, tax planning is among our…
Operating a business can be all-consuming at the best of times. During a pandemic it’s next-level pressure even for solid businesses and it’s causing many business owners to bring forward their succession plans. Succession is a fundamental stage in the business lifecycle. Generally considered to be ‘in the distant future’, it’s often relegated to a…
Over the past few months, we’ve looked closely at the behaviour of business owners through the Coronavirus pandemic and the approaches they’ve taken to maintain viability through this particularly disruptive time. In our last article, we discussed ‘flight to safety’ and here we explore how other businesses are embracing a ‘time of opportunity’ approach in…
With the COVID Delta variant causing a new level of community angst, ongoing business disruption is inevitable and returning to what we once considered normal seems unlikely for a while yet, if ever.
The last 18 months has been disruptive to say the least. Business owners who initially considered doing nothing in the belief Coronavirus would blow over quickly soon realised that approach wasn’t an option. Following the initial pause of the nation-wide lockdown in April 2020, businesses regrouped and what we have seen since is three distinct…
While careful tax planning preparation is important, the fact is, most tax saving mechanisms need to be implemented before 30 June. The earlier we identify the issues, the more time you have to explore the options, arrange your cashflow and implement a plan for reducing or avoiding paying unnecessary tax. We have created the P+Y Tax…
In this article we highlight the 10 tax planning measures we feel are the most relevant for 2020-21. Although these items apply to all businesses, those clients with businesses operating via a company structure, with a group turnover of less than $50 million, will have extra incentive to review their tax planning this year. The…
While planning of any kind has been challenging over the past 12 months, tax time remains a certainty for all businesses.
In good news for Queensland small businesses, changes to stamp duty laws enable mum and dad type businesses to restructure with a full or partial duty exemption when transferring assets.
Now and beyond COVID While there is no denying that COVID-19 has resulted in extreme ups and downs for businesses, it’s important to know that proactive and informed business management is, and will always be, the driving force behind surviving and thriving. As we move into the so-called ‘new normal’ we explore the business practices that…
While careful tax planning preparation is important, the fact is, most tax saving mechanisms need to be implemented before 30 June. The earlier we identify the issues, the more time you have to explore the options, arrange your cashflow and implement a plan for reducing or avoiding paying unnecessary tax. We have created the P+Y Tax…
In this article we highlight the 10 tax planning measures we feel are the most relevant for 2019-20. Although these items apply to all businesses, those clients with businesses operating via a company structure, with a group turnover of less than $50 million, will have extra incentive to review their tax planning this year: The company…
The 2019/20 financial year is drawing to a close. Although business restrictions are beginning to ease, many of our clients continue to face difficult circumstances. Looking ahead, P+Y can support business recovery through tax planning, cash flow forecasting and business monitoring. Now is the time to consider the first step: tax planning. As you are…
How does a company with a solid turnover achieve a permanent cash flow injection without paying a cent? We’ve written before that a business owner who doesn’t understand their numbers is likely to struggle with cash flow. In our experience, the specific reason for a cash flow problem comes to light when your accountant asks questions about your numbers that you don’t know…
In our experience, the most common issue for a business owner who doesn’t understand their numbers is a problematic cash flow. For example, if a business is making profit, why is it sometimes a struggle to pay the BAS on time? The answers to this and other key questions are found in your balance sheet.…
Advanced tax planning is the cornerstone of effective tax management. Here’s why… For the most effective tax outcomes concerning tax deductions and concessions, you need to start tax planning well before the end of the financial year, so you will have plenty of time to take a more proactive or ‘big picture’ approach to the…
As you are aware, P+Y offers a number of tax planning solutions designed to cater for your varying needs. Now is the time to put your tax planning strategy in place to ensure you achieve the best outcome possible. Contact us now to arrange your tax planning solution on (07) 3217 5700 or [email protected] …
The 2019-20 Federal Budget announcements were wide-ranging and much of the detail has not yet been released. Announcements include: Instant asset write-off extended to medium sized businesses Threshold for instant asset write-off increased Personal tax cuts and further rate changes from 2022 For further details, please refer to our concise and helpful Federal Budget 2019-20…
Whatever your definition of business success may be, there’s no getting away from the importance of having a firm grasp of your numbers. As simple as it may sound, understanding your numbers generates significant benefits for a business owner, including the ability for you to make the type of strong and well-informed decisions that underpin…
Navigating the complexities of business, regulation and legislation is extremely challenging without qualified advice, and this can make a huge difference to how you feel about being in business. If #1 is to understand your numbers and #2 is to develop strategy, #3 is to access qualified business advisory services for the support you need…
The 2018-19 Federal Budget announcements were wide-ranging and much of the detail has not yet been released. Announcements include: $20K accelerated depreciation extended until 30 June 2019 for SMEs Introduction of a three-year cycle for SMSF audits for compliant funds Seven year personal tax cut plan For further details, please refer to our concise and…
P+Y offers a number of tax planning solutions designed to cater for your varying needs. As discussed in our earlier article on tax planning, now is the time to put your tax planning strategy in place to ensure you achieve the best outcome possible. Contact us now to arrange your tax planning strategy on (07)…
Let’s be frank, paying more tax than you need to will never make anyone happy. The happiest business owners begin their tax planning in July… at the very beginning of the financial year. However, if that ship has sailed, your next best opportunity is now, at the end of April. With two months left until…
Being happy in business has 3 foundations. Having understood #1 the numbers, you next need the insights necessary for developing #2 strategy for achieving your business and personal goals. Business ownership can be multi-faceted and complex, so #3 accessing qualified business advisory services will deliver the support you need for achieving your business and personal goals. #2 Strategy &…
As a business owner, having confidence in your numbers delivers the sense of control and clarity you need for achieving business as well as personal goals. Being happy in business has 3 foundations: #1 is to clearly understanding the numbers, #2 is developing a strategy for achieving your business and personal goals, and #3 is accessing qualified business…
At P+Y Accountants and Business Advisors, we are known for expanding the possibilities for professionals and enterprising business owners. We do this by getting the numbers right, adding strategy and insights to maximise business growth, and consider our clients’ diverse business interests and financial goals to provide specialist advice. We make the positive difference that…
