Our Insights

Everyone loves a good comeback story, but very few happen without brutal truths and planning.

Every business has its challenges. To sit here and tell you that nothing will go wrong would be flat out lying to you. The reality is every business faces challenges, particularly financial challenges, at some point.

Employee or Contractor - the ongoing debate that is had virtually daily in the building industry.

Lets face it - the ATO and the government don’t like individual contractors.

The reason?

I often wonder when talking to business people what their plan is on how to exit the business in future.

And generally when asked, the answer is a shrug of the shoulders and the iconic Aussie response “Dunno”.

Its almost Christmas again, and with the ensuing busyness we might forget to properly wind down.

For years I was guilty of not taking proper holidays. Id always figured that with the business closing for about 2 weeks over Christmas and New Year, then 6 other public holidays during the year, that was enough.

Does it feel like theres people just sucking the life out of you?

Earlier this year I was at a business seminar with one of the key note speakers being a Hindu priest and international speaker named Dandapani. I was dubious as what I would get from him, but he was a thought provoking speaker in many ways.

It seems that dodgy developers and builders have ruined it for all.

And as such the way GST on construction is dealt with is changing.

Developers and builders are likely to experience tougher days ahead as cash flow starts to get tougher, with new GST laws to start on 1 July 2018 and a weakening confidence in the property sector.

Its not always who's first on the list that matters. Look at cricket for example.

The start of spring brings warmer weather and the start of the cricket season.

Whether you like cricket or not, its hard to ignore as Australia’s number one summer sport. Its a bit like doing your tax; businesses either look forward to this time of year or try to ignore it for as long as possible.

Business today can be tough.
Check that. Business today IS tough.

With innovation happening in almost every industry, many business owners are looking at lower returns from their traditional business model.

Cash flow or profit? Brand recognition or longevity?

What determines if a business is successful or not has many elements, that of themselves don't make a business successful.

But successful business tend to exhibit 5 characteristics.

Its pretty much a standard understanding that you dont get taxed on the sale of your family home; the "main residence exemption" takes care of that.

Recent cases and ATO activity might call that into question though.

So how sure are you that youll withstand a review by the ATO?