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Small Business – Planning for the unthinkable

Many individuals put it all on the line in an attempt to set up a successful small business. For many businesses owners the value of their business is their only major financial asset other than their family home. Although the majority would have insurance to protect...

Holiday rentals under greater scrutiny

The Australian Tax Office (ATO) has begun to monitor tax deduction claims made for holiday rental properties much more closely, with the purpose of preventing excessive rental deduction claims. They have advised that they have sent letters to taxpayers in about 500...

Driving Licence Demerit Points System

How does the demerit system work? You accumulate demerit points for certain driving offences you commit. This means that when you first receive your licence you will have zero demerit points. The amount of demerit points you can accumulate over a three year period...

Independence of Auditor

Under sections 301 of the Corporations Act 2001 all disclosing entities, public companies, large proprietary companies and managed investment schemes are required to have their financial reports audited and lodged with the Australian Securities & Investments...

Fair Entitlements Guarantee

The Fair Entitlements Guarantee Act 2012 (‘FEG’) replaced the General Employee Entitlements and Redundancy Scheme (‘GEERS’) when it commenced on 5 December 2012. FEG provides financial assistance to cover certain unpaid employment entitlements to eligible employee who...

Improving your online presence

Improving the online presence of your small business can provide various benefits. One of the key benefits is that can help you achieve better interaction with current and potential new customers. Many improvements which you could undertake are also not expensive. How...

What is a Reverse Mortgage?

A reverse mortgage allows individuals to borrow money using the equity in their home as security. The loan can be given as a lump sum, a line of credit or a regular income stream. However, this type of loan is aimed at retirees. This type of mortgage is not new,...