Embarking on a financial journey with SMART Business Solutions is not just about numbers; it's about empowering our clients with the
tools and knowledge they need for financial success.
Our New Client Resource Centre is your comprehensive guide to navigate your transition to SMART Business Solutions seamlessly. As you
explore our New Client Resource Centre, envision a future where accounting and financial management is not a challenge but an opportunity
for growth. SMART Business Solutions is here to guide you every step of the way. Welcome to a smarter, more empowered financial
experience.
| 1. | Inviting SMART to your Xero file |
| 2. | Client/Agent Linking via ATO portal |
| 3. | Meet the Team |
When considering partnering with Smart Business Solutions as your accountant and tax advisory partner, you can expect a thorough and proactive approach to managing your finances.
We start with a request for essential information before our first Proactive Accounting Meeting, ensuring that our discussions are
purposeful and focused. During the Proactive Accounting Meeting, we delve into your current financial position, income streams, and goals
for your business. We also explore how these business goals align with your personal and lifestyle aspirations. This meeting is an
opportunity to discuss any challenges you're facing, such as growth or cash flow issues, and to identify opportunities for business
development. Our timeline of the way we work helps manage client expectations for timeframes and workflow, ensuring that our partnership
is transparent and efficient. At Smart Business Solutions, we're committed to providing proactive and tailored support to help you
achieve your business and financial goals.
One of the most effective ways to gain a competitive edge is by attending business conferences, where industry leaders, experts, and innovators come together to share knowledge, insights, and opportunities.
Business owners with private companies must understand Division 7A of the Income Tax Assessment Act when withdrawing funds. Unlike wages or dividends, these withdrawals may be treated as loans or drawings, and Division 7A ensures they are not automatically tax-free, preventing potential tax implications.
In the lead up to 30 June, we want you to know why using a bucket company can be a great strategy for saving tax on trust profits distributed.
In today’s fast-paced world, productivity has become a paramount concern for professionals and business owners alike. We constantly strive to optimise our workflows, eliminate inefficiencies, and maximise the value we derive from every minute of our day. One of the key steps in achieving this is recognising the habits and tasks that drain our productivity and replacing them with more effective strategies.
As Australia's highest marginal tax bracket impacts more individuals, a growing number of Australians face rising tax obligations due to "bracket creep," where wage growth outpaces tax rate adjustments. This trend is expected to persist, with tax-efficient strategies the backbone for financial advice to help individuals secure long-term wealth.
Discover 9 essential financial planning tips to help new and expecting parents manage the costs of parenthood with confidence and ease.
The Taxable Payments Annual Report (TPAR) is a mandatory report for Australian businesses in certain industries to disclose contractor payments to the ATO by August 28 each year, ensuring accurate tax reporting.
WEBINAR 11 SEPT // 12PM
In the third session, we'll delve into superannuation guarantee changes, including proposed changes to payday superannuation, new rates and
bases, and the impact on SG liability. Gain insights into employer deductions, termination of employment considerations and more.
Starting July 1st, 2024, non-profit organisations (NFPs) in Australia with an ABN, but not recognised as charitable, must annually submit a NFP self-review return to the ATO to confirm their tax exemption status. This process involves three main sections:
WEBINAR 28 AUG// 12PM
Explore the crucial differences between employees and contractors. We'll discuss when genuine contractors are considered employees for PAYG
withholding and SG, key factors determining employment or contract arrangements, and new guidance from the ATO.
Systemisation is the backbone of a successful business. It is the process of creating repeatable and efficient workflows that streamline operations, reduce stress, and foster growth. This blog explores why businesses should embrace systemisation, how they can implement it, and what types of businesses stand to benefit the most.
Join us for a comprehensive 4-part webinar series designed for small business owners seeking growth and better financial management.
Presented by Shannon Smit from Smart Business Solutions, each session will delve into critical aspects of compliance review framework for
workers and employers, providing practical insights and strategies to help you navigate complex financial landscapes and make informed
decisions.
Building on the findings from Xero Small Business Insights (XSBI) report, Small business productivity: Trends, implications and strategies, this special report presents industry and regional labour productivity data for small businesses.
The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it.
It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return.
Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year.
Will 2024-25 be another year of volatility or a return to stability?
Budget 2024-25 is a pre-election budget for the people with everyone getting a little something to ease cost of living pressures. For business, there is the extension of the $20k instant asset write-off again.
Secured business loans play an important role in supporting small business owners.
LIVE EVENT
3rd May 2024
Welcome to Mornington Peninsula's original pop-up pre-loved market with a difference. Fashion For A Cause is a not-for-profit
fundraiser event. Grab a fashion bargain or unique piece, wine with friends, bid on silent auction items, all to raise funds for Clothes
4U.Inc. All proceeds from the event including stall sales, ticket sales and clothing purchases on the night will be
double-dollar-matched and donated to Clothes 4U Inc.
The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of SMSFs.
It’s important that generational succession is managed as closely and diligently.
The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst.
The ATO is cracking down on business owners who take money or use company resources for themselves.
Going through a divorce or separation is undoubtedly challenging, but it's essential to take control of your financial future. By understanding the impact of separation on your assets, seeking professional advice, and creating a solid financial plan, you can navigate this difficult time with confidence.
Technology has transformed the way businesses operate, allowing them to reach new customers, expand into new markets, and improve operational efficiency.
Scaling up a business is not just about increasing revenue or expanding into new markets; it's about creating a solid foundation for sustainable growth.
Every business, regardless of its size or industry, shares a common goal: to grow and thrive in a competitive market.
A new issues paper from Treasury’s Competition Review questions whether non-competes and other restraints are limiting job opportunities and movement.
For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement.
The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax.
The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic shift to net zero.
The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices.
A Shareholders Agreement is a legally binding contract negotiated by the shareholders of a company, designed to govern their relationship, business arrangements, rights, responsibilities, obligations, and liabilities. It supplements the company's constitution by addressing matters not covered therein, thus offering more comprehensive protection and clarity.
Running a business is not just about crunching numbers and meeting targets; it's also about fostering a strong team dynamic and creating a shared vision. That's why I recently organized a 2-day corporate retreat for the entire SMART team at Phillip Island, and it turned out to be an unforgettable experience.
A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications.
The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024.
From 1 July 2024, the amount you can contribute to super will increase.
Thousands of taxpayers and their agents were advised by the Australian Taxation Office that they had an outstanding historical tax debt.
In Australia, testamentary trusts have become useful for more people than ever before. They're not just for the wealthy anymore.
Investing in property can be a lucrative venture, especially for small business owners looking to diversify their portfolio or secure a stable source of income.
As a small business owner or employee on wages, planning for your future includes managing your superannuation effectively.
In the ever-evolving landscape of small business ownership, it is imperative to remain vigilant and proactive, especially when it comes to financial management. We delve into key strategies and insights to help small business owners navigate financial challenges effectively.
B.I.T.E Business Conference
.jpeg)
