Insights

The Key to Business Finance Success: Information You Need

A business owner needs more than just information… they need the RIGHT information. So many business owners aren’t getting what they need, presented in the right way. Understanding Your Information Needs Before determining WHAT information you need, it’s critical to understand WHY you need it. Fundamentally; what are your goals,...

Andrew Beattie

Director

Newcastle, Sydney, Port Stephens

Insights

What Is TBAR reporting and how is it affecting self-managed super funds?

SMSFs now need to comply with new reporting requirements imposed as a result of legislative changes that came into effect from 1 July 2017. These new reporting requirements are referred to as Transfer Balance Account Reporting (TBAR) and require some SMSFs to report events during the financial year instead of...

David Henriksen

Senior Financial Adviser

Newcastle, Sydney

Insights

Changes to tax laws make Division 7A loans a poisoned apple for many

The Government has provided long-awaited guidance (as a consultation paper for feedback) on the detail for proposed changes to Division 7A loans from companies. The changes are not proposed to take effect until 1 July 2019 and others deferred to 1 July 2021. However, given the potential impact on tax...

Darren Shone

Partner

Newcastle, Sydney

Insights

Who needs a financial adviser?

September 2018 marks 10 years since the Global Financial Crisis (GFC), an event that had a major impact on everyday Australians and how they now view the financial services industry. Millennials looking to save for their first homeYoung couples about to start a family and looking for strategies to reduce...

Luke Kelly

Senior Financial Adviser

Sydney, Newcastle

Insights

Time to focus: How prepared are you?

It certainly has been a tumultuous year in the corporate world, with numerous emerging risks and challenges, exacerbated by growing regulation and greater public scrutiny. The bar has been lifted in terms of greater accountability and expectations of those charged with governance. As a result, the reputation risk of not...

Scott Tobutt

Partner

Sydney, Newcastle

Insights

Why accountants need to worry about whistleblower protections

The upcoming Treasury Laws Amendment (Enhancing Whistleblower Protections) Bill 2017 has the corporate and financial sectors on edge. The key objectives of the Bill are to enhance the protections for whistleblowers currently outlined in the Corporations Law and to impose obligations on public and large corporate entities to have a...

Insights

Why whistleblowing should be encouraged in the workplace

Whistleblowers have been found to be one of the most likely means of detecting fraud and corruption, according to the findings of the Association of Certified Fraud Examiners (ACFE) in its Report to the Nations, 2018. It is also apparent from the ACFE Report that a significant number of those...

Insights

AASB 15 revenue: Time to act is (almost) over

Reporting entities that are producing general purpose financial statements should now be adopting the requirements of AASB 15 Revenue from Contracts with Customers as it applies for financial years commencing 1 January 2017 (i.e. 31 December 2018 and 30 June 2019 financial statements). Recently, there was a timely reminder of...

Insights

AASB 16 Leases: Assess the financial impact now

Is the new Leasing Accounting Standard AASB 16 just changing accounting numbers or will disclosure of the financial impact which is imminent, change the way business operates? While AASB 16 Leases which requires Operating Leases to be put on the balance sheet, does not apply to financial statements for reporting...

George Diamond

Managing Partner

Canberra

Insights

Death and your superannuation entitlements

Superannuation benefits are not automatically part of a person’s will. Upon the death of a member, the trustees of the superannuation fund need to identify to whom the member’s benefits should be paid. In most cases, death benefits are paid directly to the deceased’s dependants rather than through the estate....

David Henriksen

Senior Financial Adviser

Newcastle, Sydney

Insights

It’s all about respect

Being an accountant is not all about burying your head in spreadsheets, tax returns, financial statements and the like. As we move through the profession we become managers, teachers, advisers, mentors, trainers, coaches – all sorts of roles that require us to listen, to understand, to talk, to present –...

Bob Bell

Managing Director

Sydney, Newcastle

Insights

The wave is coming

“Australia is being transformed…We are at a critical demographic turning point because of the baby boom cohort – the 5.5 million people born between 1946 and 1965 – has begun to turn 65 years of age… By 2030, all baby boomers will be 65 or older,” NSPAC 2012. “Retiring Baby...

Andrew Beattie

Director

Newcastle, Sydney, Port Stephens

Insights

Cash flow crunch for property developers

If you are a property developer or an adviser in the property development sector, you should be aware of the recent change to GST laws which became effective 1 July 2018. In summary, it is now a requirement for purchasers of new residential premises or potential residential land to withhold...

Senray Loy

Principal

Sydney, Newcastle

Insights

Accounting for the Research and Development Tax Incentive

Lately, we are increasingly being asked for guidance on the correct accounting for Research and Development (R&D) Tax Incentives received. As an investment tax credit is accounted for either as a government grant or as income tax or as both but alarmingly it falls outside the scope of both relevant...

Liam Murphy

Managing Partner

Brisbane

Insights

SMSF friendly 2018 – 19 Federal Budget

An SMSF friendly budget is the good news coming out of the 2018-19 Federal Budget. With SMSF members still working through the wide-reaching and complex superannuation changes which took effect from 1 July 2017, this Federal Budget will provide much needed stability while looking to reduce costs for SMSFs and...

David Henriksen

Senior Financial Adviser

Newcastle, Sydney

Insights

Selling your business to your employees

While it is a misconception, the idea that management buy-out (MBO) candidates need to have access to significant capital in order to buy-in has stopped people considering it as an option in the past. Why go down the MBO path? An MBO can be an attractive exit option for an...

Insights

The view from the other side of the pond

A great sentiment but certainly nothing I ever expected to hear from a General Manager of a rapidly growing, American manufacturing company. Then it got even better as he continued; “By focusing on having quality inputs, great supplier relationships and technologically advanced manufacturing we not only have great products but...

Nicholas Falzon

Director

Sydney, Newcastle

Insights

Time to take control?

Most public interest entities, major institutions and government departments have established an internal audit function. A greater number of large private companies have recognised the importance of an internal audit function as they grow and become more diverse in their offering, more geographically challenged, and more complex businesses. Many are...

Scott Tobutt

Partner

Sydney, Newcastle

Insights

What is the address of your company’s “registered office”?

Without looking, do you know the address of your company’s registered office? Importantly, you should be aware that it might not be the same as your principal place of business. Understanding the difference between the two could one day save immense stress, legal costs and ultimately your company! Critically, amongst...

Simon Thorn

Partner

Newcastle, Sydney

Insights

How’s your health?

An annual review of your business can be just as important as your own personal health check. It’s the opportunity to stand back and look at whether the business is on track to helping you achieve your goals. The first step is to understand the goals. For any business owner,...

Luke Storey

Principal

Newcastle

Insights

Are you ready for GDPR?

The General Data Protection Regulation (GDPR) law will be enforced from 25 May 2018. Failure to comply with any of the GDPR requirements may result in significant financial loss, disruption or reputational damage to an organisation. What’s the big deal? If you think data protection and data breaches only affect...

Ken Weldin

Partner

Melbourne

Insights

Time to get serious about dirty money

The Australian Government is turning the screw on criminals and the movement of dirty money, by stepping up its level of regulation over Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF). Australia has fallen behind the rest of the world in terms of the level of regulation around AML/CTF, becoming an easy...

Scott Tobutt

Partner

Sydney, Newcastle

Insights

Investing versus speculating

Global shares began the year on fire with stock markets ‘melting up’! In the first four weeks of the year the global index gained almost 5% with the UK stock market gaining nearly 9%, Shanghai 7% and the US 6%. All in less than a month. Then over the space...

Craig Sawyer

Senior Financial Adviser

Newcastle, Sydney

Insights

Bitcoin: What is it and can an SMSF invest in it?

Bitcoin is said to have been invented by an unknown person or group of people under the name Satoshi Nakamoto and released in 2009 as an open-source software working on the blockchain basis. Bitcoin is one of many digital currencies (cryptocurrencies) and is one of the most publicised cryptocurrencies at...

David Henriksen

Senior Financial Adviser

Newcastle, Sydney

Insights

Enhanced whistleblower protection: New legislation looms In 2018!!

Whistleblowers are one of the most likely means of uncovering fraudulent behaviour, yet the personal cost associated with doing so cannot be underestimated. There have been many examples of whistleblowers here in Australia and overseas who have paid a heavy price, both personally and professionally, in acting ethically and reporting...

Martin Matthews

Partner

Newcastle, Sydney

Insights

Why we outsource

Part of the modern world of providing professional services is Outsourcing, the use of an external organisation to perform some business functions. In accounting the use of Offshore Outsourcing enables us to offer services which we would not otherwise be able to provide. This doesn’t mean we replace Australian jobs...

Bob Bell

Managing Director

Sydney, Newcastle

Insights

Director Identification Numbers

The Australian Government is taking a further step towards improving the efficiency of Australian business and the accountability of directors running businesses by introducing unique identification numbers for directors. The main purpose of the introduction is to reduce “phoenix activity” which the Government estimates is costing the economy up to...

Brad Tonks

Partner

Sydney, Newcastle

Insights

What are you doing to engage the next generation of leaders?

The business landscape is constantly changing and something I am seeing at the moment is less of a willingness for business owners to sell up and have a traditional retirement. My version of retirement is you are at a point where you can do whatever you want, whenever you want...

Chad Russell

Partner

Newcastle, Sydney

Insights

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