Joe Walsh

JWA 3 Codes Footy Tipping Comp

The footy season is upon us! We are again combining all 3 codes of NRL, AFL and Super Rugby. Over the years JWA has run an in-house competition amongst the team and last year we opened it up to our clients and their crew. It was a great success. So the rules are simple: -The Entry Fee –  This year we are giving an incentive to pay early, $25 if paid by 28 February 2013 or $35 if paid by...

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The ATO’s New Weapon!

Business Benchmarks The ATO has developed a series of benchmarks as a guide on the range of figures it would expect businesses in a particular industry to report. The benchmarks include expected expenses to income ratios. These ratios allow the ATO to quickly and easily determine if particular businesses may be in the cash economy and therefore might require scrutiny in regard to ‘skimming’...

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Business Planning for 2013

I saw a webcast recently from Patrick Thean at Gazelles Systems. He makes some great suggestions that I thought I would share with you. It is very important to have winning strategies that drive your annual plan.  But don’t just focus on revenues and profit and growth.  You also need a couple key winning strategies that are exciting, that provoke passion and excitement in your team. I...

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ATO Vigilant On TFN Reporting

The ATO has advised that it will review the 2011 Trust Tax Return ‘distribution statements’ to identify where a beneficiary has received a distribution and not quoted a TFN. Logically, it would seem that the ATO is about to embark on an audit campaign, targeting trusts and strictly applying the TFN withholding rules. A trustee is generally required to withhold 46.5% in tax from distributions...

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Leverage Every Dollar of Profit

Did you know that every dollar of profit your business makes per week can increase your businesses value by between $100 – $250? Most businesses are valued using the capitalisation of profits method which works by multiplying your business’s net profit by a capitalisation rate to arrive at your value. $ANNUAL PROFITS x CAPITALISATION RATE = $BUSINESS VALUATION So if you make an “extra”...

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