Is your property development considered an income-generating business?

When would you be considered to be operating a business of property development? What difference does it make? Your property development is considered to be a business where you have a history of property development. If you are considering investing in your first property development, that is most likely to

Understanding “Tax on mere realisation of a capital asset”

A capital asset is something that you acquire with the intention of holding it and generating a return from it and not for the purpose of profit-making by sale. For example, a residential or commercial property that you hold for a period and rent would be considered a capital asset,

Taxation issues for property developments

There are many tax and legal issues when dealing in the property development space. It can be a potential minefield. Fortunately, by understanding the lay of the land you will be in a much better position to protect yourself, or to ask your accountant or financial adviser the right questions

Your business structure – complex or simple?

A complex structure that involves various layers will have more compliance issues attached to it, than a simpler structure. For example, a structure consisting of a company and a unit trust with two discretionary trusts as unit holders may provide the ideal structure for a smaller business that will also

Defining your values – it’s YOU.

Values are the guiding principles that dictate your behaviour and actions. In both your personal and professional life, your values can help you determine whether or not you’re on the right road to reaching your goals. They are your GPS. Your values influence the choices you make, in both your

Defining your mission statement – the how and why.

The first step in choosing your destination is defining your mission statement. A business mission statement defines your goals, ethics, culture and behaviour. A complete mission statement defines what the business does, not only for its owners, but also for customers, employees and the community as a whole. A personal

How well do you manage your work in progress?

Work in progress is when you have been given an order for a job and you are in the process of working through it towards completion. Depending on the size of the job, this period can be quite lengthy and so you will need to manage the process well. After

How well do you manage your debtors?

Your sales income is the main cash flow driver of your business and converting that into cash is one of the most important processes in your business. Clients who receive sales on credit are referred to as debtors. Managing payments due from debtors can consume both time and effort if

How well do you manage your suppliers?

While choosing the right supplier is paramount to your ability to provide a quality service and outcome for your client, many business owners don’t realise that their choice of supplier will also affect their cash flow. In some cases, you will be required to pay your suppliers upfront when you

Are you taking action?

Your KPIs act as short-term goals for you to hit in order to meet your longer-term goals and big vision. However, they won’t help you achieve that vision unless you take action. For this reason, it’s important to develop a list of immediate action steps you and your team can