<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=264357774380001&amp;ev=PageView&amp;noscript=1">

Posted by GTC Financial on 21.05.2024

Company Money Crackdown by ATO

The ATO is cracking down on business owners who take money or use company resources for themselves.

It’s common for business owners to utilise company resources for their personal use. The business is often such a part of their life that the line distinguishing ‘the business’ from their life can be blurred. While there are tax laws preventing individuals accessing profits or assets of the company in a tax-free manner, mistakes are being made and the Australian Taxation Office (ATO) has had enough.

Read More

Topics: Tax, Risk Management, ATO

Posted by GTC Financial on 14.05.2024

ATO Warning on SMSF asset valuations

The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices.

ATO data analysis has revealed that over 16,500 self managed superannuation funds (SMSFs) have reported assets as having the same value for three consecutive years. With many of these assets residential or commercial Australian property, you can forgive the ATO for being incredulous.

Read More

Topics: Superannuation, Retirement Planning, Accountability

Posted by GTC Financial on 2.05.2024

How much is my business worth?

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business really worth and what sets a high value business apart?

Read More

Topics: Business Evaluation, Business Improvement

Posted by GTC Financial on 23.04.2024

10 Strategies to Boost a Business's Cash Flow

We sometimes see businesses which are healthy, growing, reputable, and stable… but their cash resources are limited. And that’s an impediment to operations running smoothly and ensuring long-term success.

Read More

Topics: Business Improvement, Business Planning, Cash Flow

Posted by GTC Financial on 9.04.2024

Self-Audits - Staying on Top of Important Trends in your Business

Busy leaders need to focus on the needs of customers, prospects, employees, regulators, suppliers and so on. However, we encourage these leaders to also take an active interest in the FINANCIAL health of their business.

Conducting a periodic self-audit or financial health check helps identify areas for improvement and ensures the business remains on track towards the financial goals. 

Here are some important topics to cover in a self-audit.

Read More

Topics: Business Evaluation, Business Improvement, Accountability

Subscribe To Our Blog
 
 
 
 
 

Recent Posts