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The 4th Step in Business Mastery…..Systems

Systems ‘Step by step and the thing is done.’ – Charles Atlas Good financial systems need to be in place to help you manage your business. They will assist in monitoring your financial situation as you move towards your goals, they will ensure you have enough money in the bank

The 3rd Step to Business Mastery…..Statutory

Statutory ‘It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.’ – Josiah Charles Stamp The building and property development industry has its own compliance regulations to ensure all the necessary standards are met. For example, your state building authority requires that, as

The 2nd Step to Business Mastery…..Structure

Structure ‘I thrive in structure. I drown in chaos.’ – Anna Kendrick Building and property development relies heavily on laying a strong foundation. As you know, the foundation is the most important part of the entire structure. It holds it all together. The ground on which we all stand is

The 1st Step to Business Mastery is…..Strategy

Strategy ‘If you fail to plan, you are planning to fail.’ – Benjamin Franklin Every time I jump in my car to drive to a new destination, I have two options. The first is to start driving and hope for the best. Unsurprisingly, that rarely ends well. The second is

What attracts the attention of the ATO?

To help you get things right, you should consider the behaviours, characteristics and tax issues that attract the ATO’s attention. It’s part of their commitment to transparency in working with privately owned and wealthy groups. Broadly, the following behaviours and characteristics may attract their attention: • tax or economic performance

The Top six questions that I receive from business owners in the lead up to 30 June Tax Year End – Question #3

Top Tax Question #3 – Should I pay some money into my superannuation? Short answer: Yes Detailed answer: You can contribute money into your superannuation by either concessional contributions (i.e. tax deductible) or non-concessional contributions (i.e. non-tax deductible). Concessional contributions are made from your business and are 100% tax deductible