Joe Walsh

Asset Protection

Business Owners: Are You Inadvertently Putting Your Family Home At Risk? As a business owner, there are plenty of things you need to manage, and two of the most important of these are assets and risks.   In other words, building your wealth and protecting your wealth. There’s no point building a lot of wealth if the way you have things structured behind the scenes means that someone...

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Changes to PAYG withholding cycles

From 1 July 2014 a number of Australian business will have their PAYG withholding cycles changed, based on the amount of PAYG withheld by the ABN in the 2012-13 financial year. The ATO awards business small, medium or large withholder status according to the amount of PAYG that can be expected to withhold from their employees. Small withholder status applies to businesses withholding less than...

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Collecting and writing off debts

If your business has a bad debt, that is a debt that you have taken all reasonable steps to recover, but appears unlikely to be paid, then it is possible to write it off as a tax deduction. While this does pose a small consolation, it is obviously preferable not to find yourself in this situation. Therefore, if unpaid invoices are an ongoing problem for your business, it may be worth reviewing...

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Adjusting to higher FBT

Offering employees competitive salary packages can be key to the success of a business. It will ensure that you have the capacity to attract the right talent, increase employee productivity and may help to minimise your staff turnover. As a small business, it can be harder to gauge what a competitive salary package is, as the responsibilities of an employee are inevitably more varied in smaller...

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Wage subsidies for older employees

As part of an attempt to boost the participation of older Australians in the workforce, the federal government is offering business incentives of up to $10,000 to hire employees over the age of fifty. The wage subsidy scheme, called Restart, will require employers to demonstrate that the filled position is ongoing, sustainable and has not led to any other employees being dismissed in favour of a...

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