Entries by JigsawReview

Struggling in business? You are not alone.

Working with small business owners, and being a small business owner myself, there is a common theme that we tend to sweep under the carpet – but it is something that we should all talk about.  We should be talking about it with each other a lot, because we may be able to help each […]

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Chasing Payments

Cashflow is one of the biggest issues facing small business.  We all complain about it and get upset at the client who has not made payment, particularly if you have gone out of your way to do a great job for them.  In my business cashflow management is a huge issue as we have a […]

Keeping it Clean

When my son Joel recommended a movie called the Laundromat over the holidays, I didn’t immediately find it on Netflix and watch it.  I couldn’t quite see why a movie about a Laundry would be of interest to me.   I do not profess to being a keen housewife, and I certainly don’t iron undies!  When […]

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A matter of Trust

Explaining how a Trust structure works to a client who does not have a legal or accounting background is difficult.  In fact, explaining a trust to someone who does have an accounting background can sometimes be difficult as well.  Trusts are complex beasts.  I spent a semester of my Masters degree intensely studying the topic […]

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Tax Evasion: What It is and What It’s Not

‘Tax evasion’ is a broad term and it is not quite as simple as it might seem at first. In this article, I will unpack the meaning of the term and outline how the ATO decides which acts constitute tax evasion and which do not. What we call ‘tax evasion’ are actually two separate but […]

Income Protection in Super: 10 Good Reasons to Reconsider

Many Australians have Income Protection (IP), or Salary Continuance. A great many will have a policy owned in superannuation. Few will understand the disadvantages of owning this important cover in superannuation. 1 tier vs 3 tier definitions – Super IP will have only one definition to assess your claim under. Non-super policies will offer three […]

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Super Contributions – $25,000 limit

A reminder that as 30 June is approaching, that individuals can now contribute directly to their super and claim a tax deduction. If you have spare financial capacity, this may be a great way of saving on tax and boosting your retirement income. Individuals can contribute up to $25,000 per annum. Note that is amount […]

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Using the HowNow System

Our new HowNow system makes it easier for you to sign and send through your documents. You might need to use HowNow to exchange things like tax returns, Business Activity Statements and DFRs with us. Here’s what you need to know about using it. You will receive an email inviting you to activate your HowNow […]

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Wages – Cash or on the Books?

Many businesses continue to pay their staff cash wages for a variety of reasons – but what’s in it for you – the employer? Advantages of paying your staff with cash wages When reviewing wage expenses, and we identify cash wages, we hear all sorts of excuses – some potentially valid and some purely to minimise […]

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Cryptocurrency: how tax affects blockchain currencies

  For decades, accountants and tax authorities have grappled with how to value, trade and eventually tax intangibles. Over time, we’ve come up with ways to effectively manage intangibles such as brand names, rights, trademarks, systems and even how much a business is valued by an owner, over and above the tangible assets – goodwill. […]