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CFL Financial location Level 9, 360 Queen Street Brisbane, QLD 4000
fax CFL Financial 07 3328 8999
phone CFL Financial 07 3328 8988
Email CFL Financial mail@cflfinancial.com.au

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

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The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

Avoid these common tax mistakes

Posted on Oct 2, 2015 by CFL Financial

Many small businesses fail each year simply because they don’t plan or dedicate enough time to taking care of their taxation responsibilities.

Bad habits, such as putting obligations like GST, payroll tax and super guarantee contributions on hold are often the biggest contributors to a business’s financial downfall.

Below are three common tax mistakes that can limit a business’s chance of success that should be avoided at all costs:

Failing to keep good records
Keeping good records increases the chances of maintaining good business. Neglecting to record or keep track of business costs and therefore, relying on estimations means it is more likely a business will miss out on valuable tax claims.

Not paying the superannuation guarantee
Businesses who want to avoid harsh penalties from the ATO must ensure that their employees are paid superannuation when it needs to be paid. Unfortunately, many businesses put off making superannuation guarantee payments when cash flow becomes an issue.

Not keeping track of tax law changes
Not following tax law closely means a business is more than likely to miss important changes that affect them. Changes to payroll tax rates, for example, are important for business owners to be aware of since they may need to withhold more to cover any rate increases. Failure to keep correct books usually results in hefty tax fines.

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

Retirement-prosperity-thumbnail

The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

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Email:
Phone: 07 3328 8988
Fax: 07 3328 8999

Office Location:
Level 9, 360 Queen Street
Brisbane
QLD 4000

Postal Address:
GPO Box 2468,
Brisbane,
QLD, 4001

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