Small Business
Safe Insurance or a Future Street Fight - Part 2
My previous article ended with a fight about to ensue after a claim was put in for professional indemnity insurance. We finished off with your claim being in the hands of Specialist Lawyers and the fact you are in a white collar street fight.
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Safe Insurance or a Future Street Fight - Part 1
If you are contemplating going into business in professional services then you need to consider Professional Indemnity insurance or PI as it’s known in the white collar world. PI insurance is a key piece of asset protection for your small business and will help you sleep at night.
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Don't Make it Your Problem - DATA BREACH
You better be ready Mr or Mrs Business Person because New data breach rules come into effect from 22 February 2018. These rules place an onus on business to protect and notify individuals whose personal information is involved in a data breach that is likely to result in serious harm.
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Do you use your car for work or in your business?
YES? ... You should speak with us here at Paris Financial about claiming this in your Income Tax Return. But, be aware that the ATO have strict rules about what and how car use can be claimed.
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Small business restructure roll-over concessions
What happens if you are in the wrong structure? Have you ever had a chat with a colleague or mate and thought “why aren’t I doing that” or “I wish I could change the way my business works”.
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Great news for everyone running a small business!
The Small Business Entity threshold has increased to $10 million from 1 July 2016 onwards (became law on 19th May 2017). Previously the Small Business Entity threshold was $2 million. Basically, you are a Small Business Entity if you carry on a business and have an aggregated turnover of less than $10 million.
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Managing the Debt Train
The critical issues for small business - February and March are traditionally the worst cashflow months for small business – the Christmas rush is over, the Business Activity Statement is due, and payments slow down with a dip in consumer spending. You might be ok but your customers could be under pressure and often whoever wields the most influence gets paid first.
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Growing Businesses – increase your super and save tax
Retirement and superannuation are always a topic of conversation for our small business clients. Paris Financial are pro-active in our approach with our small business owners and through discussion and planning we can advise our clients on how they can utilise the small business “retirement exemption” to make up to $500,000 in additional superannuation contributions and also save on tax.
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