Towers Business News

Merry Christmas and Best Wishes for 2019! The Australian Business Growth Fund Announced Being a small business means it is hard to get money from a bank, unless you take it on a secured basis, and usually against real estate and more commonly your own home.  This means that people are not able to get into running a small business without some sort of solid financial backing and the...

"Scaling Up" - Crowd Sourced Funding Could Help! Doesn’t it really “frost your cookies” that medium-sized businesses always seem to get left out of the most important decisions? Well, as it turns out, the medium-sized business sector has finally scored a big win! Many medium-sized companies will be perfect candidates for the concept that is going to revolutionise capital raising for...

Are You Planning To Sell Your Business? From the moment you acquire or commence a business you should assume that one day you'll want to sell or merge your business with another business.  To enable the best possible return, you should always keep the business in a “saleable state”.  If you decide to sell your business today and want to list it for sale in 6-weeks' time, most...

STOP PRESS – Crowd Sourced Funding Amendments Passed The Senate passed the Corporations Amendment (Crowd Sourced Funding for Proprietary Companies) Bill 2017 on 12th September 2018. The legislation will be operational 28 days after Royal Assent. This means the legislation will be operational from approximately 15th October 2018. The legislation withdraws the requirements in the original...

“Future Proofing” Important for Businesses The Challenge – are you and your business developing strategies for “future proofing” your business to meet the challenges of the next few years? Some of the challenges facing businesses include: Finding and keeping quality staff – this relates to the employment process, induction, training, feedback that your team members are...

Do You Want More Time? Time management is a very important issue for everyone whether you are a business person, a student or a stay at home parent looking after the household and children.  Everyone has the same 24-hours or 1,440 minutes a day!  You cannot purchase any additional “time”– but you can plan for a better allocation “time”! Time cannot be expanded, but it can...

The 2018 Financial Year Is coming To An End This special edition of the Business Plus+ newsletter contains commentary on many of the items you may encounter as part of your end of financial year deliberations.  Please contact us for a copy of our End of Year Tax Planning paper and checklist.  Both will assist you in identifying items that you might like to discuss with us.  This...

“What If” Calculation to Establish Trades/Contracting Businesses Charge Out Strategies Setting charge out rates to achieve a predetermined profit is an important strategy for trades/contracting businesses.  The following is a summary of a “what if” calculation approach to planning business operations.  We can assist you with the preparation of this type of calculation...

Research and Development Registration If your company has undertaken research and development activities with a value of $20,000 plus in 2016/17 you need to register the research and development activities with AusIndustry by 30th April 2018 to be eligible to claim the Research and Development Rebate which, for companies with turnovers under $20 million, is 43.5% of the eligible research and...

Is Your Debtors’ Days Outstanding under Control? Debtors’ management is an enormous problem for a significant number of small/medium enterprise operators. The Small Business and Family Business Ombudsman indicated last year that Australia had the highest debtors’ days' outstanding figure in the world at 56.4 days, thus debtors’ management issues are a significant contributor to...

Happy New Year!! GST Withholding Changes Residential property and GST rules are changing and these changes, are going to cause a lot of cash flow problems for people that are in the residential property development area and those who use the GST margin scheme in their residential property development. From 1 July 2018, all purchasers of new residential premises or new residential...

The Early Stage Innovation Company legislation, which commenced operations from 1st July 2016, has introduced significant taxation benefits for investors. There is a 20% tax offset based on the amount of the investment and a capital gains tax exemption. The tax offset maximum amount is $200,000 for sophisticated investors. A sophisticated investor is someone who has net assets of $2.5M or who...

Why don't you undertake some research to see whether you fit some of the key characteristics that are going to be required to be deemed to be an ESIC? Was your company incorporated in the last three years? There are some rules that allow companies incorporated up to six years ago to be eligible for ESIC, but the main emphasis is on companies that are under three years of age. Does your...