Tax is one of the main reasons why negatively geared investment property is so popular. The losses that you make in renting your investment property can be offset against your other (salary) income. The tax savings that you make can change a negatively geared property into a positive geared investment.
The level of your income will have a significant impact on the after tax returns of your investment property. Those in the top tax bracket (46.5% over $180,000) will receive a bigger tax benefit than... [Read More...]
Here’s a list of questions that every business manager should be able to answer with an unqualified ‘yes’. They relate largely to the fundamental need of identifying and understanding your competition, and if you find yourself giving a ‘no’ answer to any of them it means you could be short of valuable information that would provide you with a competitive advantage.
Do you know who your competitors are? Do you know where they are and how big they are? Would you be aware if any new competitors... [Read More...]
Acres of Diamonds is an old story of an African farmer who sold his farm and wandered the countryside searching for diamonds. It later turned out that the land that he sold was full of diamonds and eventually became the site of a large mine.
Similarly, many businesses seek their customers far afield when they might find acres of diamonds in their own backyard. Despite globalisation and the trend towards working at greater distances, it’s worth taking a serious look at promoting your business in... [Read More...]
As a Forensic Accountant, I’ve had the following conversation too many times…
Business Owner – “I’ve decided it’s time to retire. How much is my business worth?”
Advisor – “How much do you think it’s worth?”
Business Owner – “I really don’t know but, if I had to guess, I’d say around $2.5 Million.”
Advisor – “Well, uhhhh, actually, you might find that if we did a valuation of the business, it may only be worth about $500,000.”
Business Owner – “That’s impossible,... [Read More...]
The Australian Bureau of Statistics released the Average Weekly Earnings for May 2010.
This data is used for the calculation of domestic care claims in NSW and Victoria and the probable earnings thresholds for the Civil Liability Act.
The latest rates are:
Weekly
Hourly (/40)
NSW Feb 2010
989.90
24.75
NSW May 2010
986.90
24.67
VIC Feb 2010
930.00
23.25
VIC May 2010
949.00
23.73
We have updated our domestic care calculator and our domestic care calculator on Lawcalc.
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Personal branding, self-branding, self-positioning, whatever you choose to call it, it’s really about personal marketing. Why would you want to do that? It’s a great way to market your business in a way that can cost you nothing. You see it in action constantly. Donald Trump, for example, uses his name on his buildings, but he also has it placed on products that he endorses. While you mightn’t be prepared to go that far, let’s look at some ways of using personal marketing.
Remember,... [Read More...]
