Whether you are updating or creating a Will, designating an executor is not an easy decision. The role of executor requires a great deal of commitment. The executor of a Will holds the responsibility of administering your estate and ensuring your wishes are carried out in a time-efficient manner. When choosing an executor, a will…
A sad fact of business is that many small companies that create products simply don’t think about the customer. They think about how they can get customers to buy, but when it comes to actual product design, they focus on issues such as features, cost, and production rather than usability. What’s often overlooked is how…
Contrary to what some business owners may assume, a cash flow forecast is different from a cash flow statement Cash flow forecasts look forward while cash flow statements look at the past to report cash generated. Cash flow statements are critical financial statements and are very useful in determining the short-term viability of a business;…
Once your business is up and running, you need to identify and understand what works and what doesn’t. Owners need to take a step back and be strategic about how and when they should grow their business. Opportunities for business growth can be exciting, but turning an idea into a practical reality takes careful research,…
Australian taxpayers should be aware that some promoters claim to offer early access to super savings by transferring a person’s super into a self-managed super fund. These schemes are illegal and heavy penalties will apply to those who participate in such schemes. Generally, individuals cannot access their super until they retire or meet a condition…
Businesses with a GST turnover of less than $20 million who have not been asked by the ATO to report their GST on a monthly basis can report and pay their GST quarterly. Businesses who report and pay their GST quarterly have three reporting options: 1. Calculate and report GST quarterly This option allows businesses…
