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.
Most businesses are based, either consciously or subconsciously, on the Greek philosopher Plato’s statement indicating that necessity is the mother of invention. You identify a need and then invent a product or process to fill that need.
Automate processes to save time
Look at current processes you could change to save you time or money. One way could be changing from manual systems to automatic ones to
free up time for more important tasks.
Conduct customer research to identify new ideas
Ask your customers about what new products or services they would like to see added to your range. Brainstorm ideas with your staff, along
with which new markets to target. This article has some advice on how you can unlock innovative ideas.
Create a video channel to increase your profile
If you want to get your goods or services out there in front of a worldwide audience, think about creating a YouTube channel for your
business. This is a great way to demonstrate products or share tips with your customers. For example, if you have a background in carpentry
and a small business that makes wooden furniture, display some of your products on YouTube to gain a following.
Growing your business means more cash for you now plus a higher sale price in the future when you decide to eventually sell your business.
Over the coming months, we plan to send out to you 4 articles full of ideas to help you grow your business.
New Year’s Eve is famous for the New Year’s Resolutions people make to better themselves in the coming year. The most common New
Year’s Resolution is eat healthy and exercise regularly .
But what about your business and your personal finances? Why not start off 2020 with a very achievable and measurable resolution that
will greatly impact not just yourself, but your family’s long-term security.
Session # 11 - 3 Essential Tools for Business Success
By attending this event you’ll learn the three most powerful tools for business success and how to use them, including:
Our final Lunch and Learn for 2019, this session puts the wheels in motion to ensure your 2020 is spent being results focussed, productive and more aligned with your business goals than ever before.
Ask experts what they rate as one of the top qualities of a successful small business, and they’ll no doubt answer agility. So, here are some top tips to help you remain agile, especially during growth periods.
From 1 July 2020, new rules will come into effect to ensure that an employee’s salary sacrifice contributions cannot be used to reduce the amount of superannuation guarantee (SG) paid by the employer.
The festive season is fast approaching and with it comes the temptation to eat, drink, and make merry, hopefully on the company’s dime. After all, you’ve worked hard and put in long hours to achieve your goals. It’s only right that you get to reward your clients as well as your staff and their families, maybe even yourself.
Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land.
Do you understand what it takes to keep your online customers coming back for more? Whatever your answer, the following five strategies are designed to ensure you deliver a brand experience that surpasses your customers’ expectations and guarantees their loyalty.
Session # 10 - Organisational Review - How many hats are you wearing in your business and what can you do about it?
Most small business owners understand only too well that there are always too many things that need to be done yesterday. Being
under-resourced, both from a time and a staffing perspective, is a continual challenge.
Setting a clear organisational structure ensures that everyone understands their responsibilities to the business. It also helps you
identify where you may need to outsource to ensure the cogs keep moving.
Do you know how much your business is worth? Whether you’re thinking of selling or just plain curious, it’s interesting to note that owners are prone to overestimating the market value of their business.
At SMART Business Solutions our people are our business so holding onto our employees for the long term is critical to the success of our business. Recruiting and onboarding new employees is a costly and time-consuming process for any business which is why you ideally want to hold onto great staff when you find them.
Session # 9 - Xero Update - Get all the latest news, tips and traps to get the most out of Xero
You already know how fantastic Xero is for streamlining your accounting and bookkeeping. But did you know that there are a stack of new
features that have only very recently been released that will make your software work even harder for you? Like Xero's investment in
artificial intelligence, fixed price tasks, workflow assistance and more.
Being your own boss can be rewarding, but it’s also incredibly challenging. That’s why it’s important to future-proof your hard work by taking steps today that will prepare your business for tomorrow
These are the 10 hats – aka departments – in EVERY business. These are as follows along with a brief description of the accompanying role:
This article follows on from last week’s blog which dealt with Key Performance Indicators – why they are vital and how to implement them, to in a sense, take the pulse of your organisation and so determine where adjustments must be made, and wins leveraged to ensure lasting results.
What gets measured gets managed. What does this quote mean to you? Have you ever worked tirelessly on a campaign without realising the desired result? And when it’s over, you’re still unsure regarding its impact on your profit margin? Or whether it was it worth your investment in terms of the time-frustration-stress input?
Session # 8- How to build a marketing plan that can be regularly implemented
Our Lunch Learn Program combines two of life's essentials; food and knowledge. And what better way to combine the two than with a 2 course
catered lunch alongside like-minded business owners who are keen to learn & network. A more casual alternative to formal training and
seminars, the best lunch and learns become an integral part of company culture - and a tasty perk that everyone looks forward to.
In the face of increasing competition, it can be tempting to think that the only way to maintain your organisation’s market share and win new customers is by lowering your prices. However, such a strategy is rarely effective in the long-term. Instead, it can end up undermining your business, so it’s wise to use it cautiously.
Contributing shares to your SMSF
What you need to know
Many investors have a personal share portfolio. When it
comes to your SMSF, did you know that you can contribute more than simply cash?
You are also able to contribute listed shares.
Session # 7 - Cashflow Management - How to plan for a healthy cashflow
Our Lunch Learn Program combines two of life's essentials; food and knowledge. And what better way to combine the two than with a 2 course
catered lunch alongside like-minded business owners who are keen to learn & network. A more casual alternative to formal training and
seminars, the best lunch and learns become an integral part of company culture - and a tasty perk that everyone looks forward to.
There is plenty of advice out there about why you should save for your future, but little that explains exactly how.
One of the problems when discussing wealth creation and retirement planning is that it usually involves words rather than numbers. People say they want to ‘build a retirement nest egg’ or ‘make sure I have enough to live comfortably’ or ‘pay for my kids to go through private school’, but rarely are accurate numbers attached to those wishes.
There has been a lot in the news lately regarding self-managed super funds (SMSF’s) from the Royal Commission into financial planning, and the banks tightening up on lending to SMSF’s some may wonder if it is all still worth it or a viable option. Yes absolutely! However, some of these changes are there to protect members of super funds because a SMSF may not be the most appropriate for everyone.
Session # 5 - How to determine your critical KPI's and improve them for success
Our Lunch Learn Program combines two of life's essentials; food and knowledge. And what better way to combine the two than with a 2 course
catered lunch alongside like-minded business owners who are keen to learn & network. A more casual alternative to formal training and
seminars, the best lunch and learns become an integral part of company culture - and a tasty perk that everyone looks forward to.
They say every great journey begins with a single step - and yours in just beginning. Here's how to get on the path to financial
freedom at the same time.
There may be several reasons why you’ve decided it’s time to change accountants. These could range from your accountant taking months to complete your accounts or not being a responsive communicator to the fact that your accountant is “old school” and doesn’t understand cloud accounting.
Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before
and after 30 June.
Some of these will help to minimise your tax. Others will reduce your exposure to an ATO tax audit. We have outlined these action points to
assist you.
The moral of the story - You can’t leave assets in your Will which are not legally owned by you. Did you know this? It comes as a surprise to many as people just assumed that their all of their assets will be distributed according to their wishes outlined in their will.
From global keynote business leaders to interactive interview panels of local movers and shakers, B.I.T.E. Conference has proved to be the
hub for all things boundless, bold and brilliant for the past two years. We’re passionate about Australian businesses and the positive
contribution they make to the economy. We’re even more passionate about nurturing and growing small business on the Mornington Peninsula
and Greater Frankston region.
We invite you to join us at B.I.T.E Conference 2019 - The Business Event of the Year.
If your business is typical of most small to medium enterprises, approximately 60% of your total operating costs are earmarked for your workforce. So, how can you be sure you’re getting the best out of your team of super heroes and ROI for what is arguably your most substantial outlay?
To put it more directly: Are you getting the return you expected from your workforce spend?
We are seeing a lot of property development on the Mornington Peninsula whether it be sub-dividing and developing two new houses, or on a larger scale.
There's recently been a big tax law change that may reduce the tax deductions for many businesses across Australia.
Does the idea of taking your best-selling Aussie product or service global appeal? Introducing your offering to international markets can be rewarding, provided you venture forth fully prepared.
With the federal election done and dusted we've done a wrap up of how the Coalition win will affect you, either as a business or as an
individual.
Check it out.
Well the end of financial year is nearly here so what can you do prior to June 30 to keep more money in your pocket and not the tax man? Many proposals from budget night will also impact your future tax position. So take a read through and see which measures can potentially benefit your business
Session # 4 Business Value - Build a business with the end in mind
When establishing a business, most of us
will think about how to 'get there.' However, the widely forgotten yet hugely important contrasting component to a solid business plan is
also to know how you may one day exit the business. An effective exit or succession plan encourages the growth and sustainability of your
business.
Our
Lunch Learn Program
combines two
of
life's essentials; food and knowledge. And what better way to combine the two than with a 2 course catered lunch alongside like-minded
business owners who are keen to learn & network. A more casual alternative to formal training and seminars, the best lunch and learns
become an integral part of company culture - and a tasty perk that everyone looks forward to.
With only a few days til' the Federal Election on 18 May, there is a lot of wild speculation and 'fake news' in the media.
We're not trying to recommend who you should vote for. That's a deeply personal decision. Rather, we'd like to help explain how the outcome
of the Federal Election will impact you.
It sounds like the beginning of a bar room joke, but in all seriousness and despite their stereotyped images, there are fundamental differences between the three positions.
WARNING TIME
The
Australian Taxation Office (ATO) is closing in fast on everyone who doesn't
properly declare their income and pay the correct amount of tax.
As
your Tax Accountants, we want to help you be aware of what the ATO is doing and
how you can protect yourself.
Do not sell without first gaining professional advice
For the majority of small to medium sized business owners, the value of your business is your biggest asset, and very likely, your
retirement fund.
Upon sale of your business it is critical you receive the maximum available net proceeds. However, many taxpayers miss this once in a
lifetime chance through poor transactions planning and the holding of assets in inappropriate structures. Just because you consider yourself
a small business does not mean you have automatic access to all available CGT concessions.
While the rules are complex, if the correct planning is in place, a husband and wife team can receive up to $4 million tax free after the
sale of their business. (If you’ve run your business for at least 15 years, all the sale proceeds might be tax free!)
Are you thinking of acquiring, upgrading or replacing capital assets that will be used in running your business?
The Fringe Benefits Tax (FBT) year ended. With the ever increase budget deficits, the ATO will be reviewing whether all employers who
should be paying FBT are, and that they are paying the right amount.
To help you meet your fringe benefits obligations, we’ve put together a list of essentials every employer needs to know about FBT and review
every year, such as:
How to help a family member who can’t get finance get onto the property ladder without incurring capital gains tax.
SESSION 3: FINANCIAL AWARENESS
The better you understand your business, the easier it will be to make more money.
Management decisions rely on a sound understanding of the financial implications for a business. We have developed this workshop to enable
business owners to fully understand and interpret their numbers, so they have a strong foundation on which to grow their business.
We recommend this workshop to you if you are passionate about your business and want to better understand your numbers, so you can answer
questions like:
1. How much profit have I made this year?
2. Why has my profit increased but I have no cash?
3. Is my cash level increasing or decreasing?
4. What is affecting my cash level?
With the Fringe Benefits Tax (FBT) year end of 31 March 2019 upon us, it is time to assess the annual FBT obligations of your business.
One of the advantages of self-managed super funds (SMSFs) is the ability to acquire a business real property (BRP), such as a commercial property, a shop or even a farm through your SMSF.
It's on again! SMART Business Solutions together with Clothes4U Boutique once again bring you the fabulously fun and feel-good event,
Fashion For A Cause.
Last year, this brilliant clothes-swap concept raised in excess $6,500 for the most vulnerable people in our Mornington Peninsula community.
B.I.T.E Business Conference
