Business challenges of 2016

No matter where your business is in its lifecycle, there is no shortage of challenges that will affect its ability to grow. But there are ways owners can overcome these hurdles if they simply invest enough time and effort into planning for the future. Here are three challenges 2016 so far that every business should…

No tax penalty when restructuring your business

Federal Parliament recently passed legislation that will allow small businesses to change the legal structure of their enterprise without incurring a capital gains tax (CGT) liability. Instead, the CGT liability can be deferred until eventual disposal. The legislation, ‘Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016′, will apply from July 2016. It provides an…

Cutting down to the essentials

Self-managed super funds (SMSFs) are an attractive option for those who want more control over their retirement savings. However, trustees who have run a fund for as long as SMSFs have been in existence (around 20 years) are likely to have accumulated a lot of paperwork, especially if they engaged in various super strategies throughout…