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At BLG Business Advisers we’re all about YOU. We go out of our way to bring you usable and relevant information. The following blogs range from managing everyday life, through to topics such as superannuation, online accounting and succession planning to name a few. Take a minute to browse our blogs and find one relevant for you.

 

Find out about your $20,000 instant asset write-off

June 16, 2017

In a move that was sure to please many voters, on 9 May 2017 the Government announced an extension to…
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5 Quick Tips for Healthy Finances

June 12, 2017

It’s best to start the new financial year in a healthy way so you stay ahead and on top of…
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Communication Quantity vs Quality

June 4, 2017

Social media’s impact on our communications and interactions infiltrates all areas of society. An assistant professor of media and cinema…
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Superannuation Reforms – Key Questions To Consider Now

May 25, 2017

The most extensive changes to Australia’s superannuation system in 10 years will come into effect from 1 July 2017. As…
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Changes to Superannuation Contribution Caps

May 18, 2017

The two most common types of superannuation contributions made by members to their superannuation fund are known as concessional and…
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2017 Federal Budget Announcement – Key Points for SME’s

May 14, 2017

After the usual cycle of rumour, media leaks and political to-and-fro the coalition government officially handed down the Federal Budget…
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The Value of Your Business

May 5, 2017

Do you know what your business is worth? It’s a very important question but one that many business owners can’t…
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Diversity

April 30, 2017

I have been blessed during my career to meet, observe, talk to and share time with many ‘good’ people. Not…
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A fresh look at your Business Structure

April 24, 2017

Choosing a business structure is one of the key decisions to make when starting a business.  Most people choose the…
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Medicare Levy Surcharge & Private Health Insurance – What’s the link?

April 18, 2017

Medicare Levy vs Medicare Levy Surcharge The majority of Australian resident taxpayers pay the Medicare Levy which partly funds access…
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Buying & Financing a Business Car

April 7, 2017

How to buy and finance a car is one of the most common questions we get asked. There are various options available and pros & cons associated with each.
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The Importance of Teamwork

April 3, 2017

With the change of season to autumn in recent weeks, the return of the football season is upon us –…
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State of the Pharmacy Industry

March 24, 2017

I recently attended the annual Australian Pharmacy Professional Conference & Trade Exhibition (APP) on the Gold Coast with a couple…
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Act fast, Plan early – 2017 Tax Planning

March 20, 2017

Tax planning is critical to the long term success of any business. It provides you with the opportunity to assess…
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Strategies for business growth

March 13, 2017

New business owners have numerous goals when they’re starting out, including rapid growth and brand or service recognition. Every business…
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Getting in the Community Spirit

March 6, 2017

Recently I was asked to be on the board of a local sports club, and the first thought I had was ‘I do not have the time…’. However after a few persuasive phone calls and meetings I started to understand what this club is trying to achieve and the larger impact it will have on the community.

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Are your assets protected?

February 26, 2017

In today’s increasingly litigious society asset protection is particularly important. With so many Australians now engaged as professionals and in small business fields the need to have a sound asset-protection plan in place is vital.

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Planning Ahead – Superannuation Contributions Caps

February 20, 2017

It is vital that the upcoming changes to Superannuation contributions caps are understood and considered well in advance of 30 June 2017.
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Fringe Benefits Tax – What you need to do now

February 16, 2017

With the Fringe Benefits Tax (FBT) year ending on 31 March 2017, the time to determine whether your business needs to submit a FBT return is now!
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Life is short…

February 6, 2017

Life is short - everyone appears to know this. The scarcity of any resource always generally brings into focus how you utilise that resource.
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Your ATO Business Portal – What & How?

February 3, 2017

The Business Portal is a safe, secure website where you can manage your business tax affairs to:

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SMSF Investment Rules – What is Business Real Property?

January 30, 2017

A number of rules apply to limit the nature and type of investment that an SMSF is permitted to make. Business Real Property is one of the rule exceptions.
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Personal Services Income (PSI): A recap

January 23, 2017

Personal Services Income (PSI) is a tax concept that covers income produced mainly from your personal skills or efforts as an individual. You can receive PSI in almost any industry as a trade or profession.
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NSW Land Tax – Does this apply to you?

January 16, 2017

Land Tax is quite often a forgotten and misunderstood tax that can fly under the radar of many property investors.…
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Talking vs Technology

December 21, 2016

Recently I went to a conference, one of the guest speakers was Dr Fiona Kerr and her topic was ‘Rewiring your brain’. Her message was so simple yet something we have to be reminded of to appreciate its importance.
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Passed Government Super Reforms – What You Need To Know

December 13, 2016

The Government's Superannuation Reforms were passed on 23 November 2016, with changes taking effect from 1 July 2017. Find out what changes will affect you.
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Community Pharmacy and 6CPA – Are You Fighting Back?

December 5, 2016

The changes to Pharmacy introduced by the recent Commonwealth Government’s 6th Community Pharmacy Agreement (6CPA) are now starting to have a significant impact on the net profitability of almost all community pharmacies.
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Payroll Tax – Is Your Business Over The Threshold?

November 28, 2016

Are you aware of the Payroll Tax obligations for businesses? Overlooking Payroll Tax could be a costly mistake, so we have listed the important information for you to understand it and work out if, or when, it applies to you.
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Buying a Business – What to Consider

November 21, 2016

Buying a business can be a stressful time that generally doesn’t come without some risk. However, you can gain a lot more comfort by having control over the process.

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Estate Planning – Why is it important?

November 14, 2016

It is important for all of us to ensure that the assets we have accumulated over our lifetime are left for the benefit of those people or institutions we wish to support, and left in the way that is most beneficial to the recipient.

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Backing Your Judgement

November 7, 2016

With the ever-present 24/7 news cycle and hype over big events, remember the importance of staying the course, managing the controllable and not letting the hype distract you from your goals.
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Know your Balance Sheet

October 31, 2016

Are you a business owner and have found yourself looking at your balance sheet not knowing what it’s telling you?…
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Property Investment vs Property Development

October 24, 2016

Many Australians hold investment properties, and most would not consider themselves to be property developers. However the ATO may take a different view. There have been many cases where people have been deemed to be carrying on a business of property development upon selling a property, resulting in serious tax consequences.

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Tax Incentives for Early Stage Investors

October 12, 2016

In May 2016 the federal government passed legislation implementing new tax incentives designed to foster investment in innovative start-up businesses...
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There Is No Substitute For Hard Work

October 4, 2016

I think Thomas Edison was onto something when he coined the quote above. Through hard work and doing your best, you develop a sense of satisfaction that you put enough effort in to get a result.
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Succession Planning: Your Family Business

September 26, 2016

Most family businesses start from something small. After years, sometimes decades, of hard work these businesses can grow to be…
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Latest Government Superannuation Amendments

September 19, 2016

Last Thursday, the Government publicised the following proposed amendments to the superannuation changes announced in the 2016-17 Budget.

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Cash vs Accruals: What and when?

September 12, 2016

The difference between cash and accrual accounting is important to understand, whether you handle your own financial statements, or hire an outside professional. The difference lies in the timing of when sales and purchases are recorded in your accounts.

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Play to your Strengths and Love what you do

September 5, 2016

One of the many things that I have learnt from my clients is that they succeed if they do what they are passionate about and what brings them the most satisfaction. You can make significant positive changes to how you live and work if you focus on what you are great at.

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Contractors vs Employees – The Difference

August 29, 2016

The status of your staff, or workers, is very important to distinguish. Whether workers are classified as employees or independent contractors has…
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What you need to know about Small Business CGT Concessions

August 22, 2016

Thinking of selling your business? Small businesses have been able to access a range of taxation concessions for a number…
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SMSFs – Corporate vs Individual Trustees

August 15, 2016

Self-Managed Super Funds (SMSFs) give members more control over their superannuation. They can be a great vehicle for building and protecting retirement savings. Members are required to be trustees of their SMSF, or appoint a corporate trustee that they control.

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Essential Due Dates for your Diary – 2017 Financial Year

August 8, 2016

Given the ever increasing role of business as the Australian Government’s ‘tax collector’, I am often involved in conversations with client’s lamenting trying to keep up with the next thing that is due for lodgement, or the next payment that is required to be made to the Australian Taxation Office (ATO).

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Finding A Work / Life Balance

August 1, 2016

Life is increasingly busy. Sometimes it’s great to take the opportunity to take a few deep breaths and have a really good think about finding that balance which, in my opinion, is the key to a happy life.

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Advantages and risks of Limited Recourse Borrowing Arrangements

July 25, 2016

Self-Managed Superannuation Fund (SMSF) borrowing arrangements and investment rules and regulations are complex. Before jumping in, BLG Business Advisers recommend seeking advice to ensure any investment strategy is right for you.

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Getting the most out of your online accounting software

July 19, 2016

Like in every part of life, improvements in technology are having a positive impact on how small to medium businesses manage their processes and finances. An example of this is the evolution of online accounting software, giving businesses real-time access to their financial information.

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How to get money out of a company

July 11, 2016

From past experience, we find that many people in business who establish a company tend to find it difficult to distinguish between company money and personal money. However, it is important that this distinction is made and that the consequences of accessing company money are understood by company owners and directors.

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Seeing the world through clearer eyes

July 4, 2016

For many years I followed the well-worn path of so many people by giving an absolute priority to the task…
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Choosing the right accounting software for your business

June 27, 2016

Online (‘cloud’)  accounting software has evolved so much in recent years – business owners can now have convenient access to their key financial information at any stage across a myriad of devices (PC, Phone, Tablet). Your accountant is also able to login to assist you in real-time and provide valuable, timely advice.

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SMEs – the real winners in the 2016/17 federal budget

June 20, 2016

Small and Medium Enterprises (SMEs) were the real winners of the 2016-17 federal budget. With the definition of a ‘small business’ proposed to be expanded, more businesses are set to benefit from both existing and proposed new taxation measures targeting SMEs.

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Changing financial planning licencing laws

June 13, 2016

The ‘accountants’ exemption’ that currently permits a recognised accountant to recommend the establishment or winding up of a Self Managed Superannuation Fund (SMSF) without being licenced under the AFS licencing regime will be removed from 1 July 2016.
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Super, the Budget and YOU!

June 6, 2016

Understanding the recent federal budget and its potential impact on individual financial affairs is challenging and certainly doesn’t happen overnight.…
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The Importance of Tax Planning

June 6, 2016

BLG Business Advisers believe tax planning is one of the most important annual events for all our clients. Understanding your…
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Why is the right business structure so important?

June 1, 2016

It is paramount to have the correct structuring in place in order to effectively build your wealth or grow your…
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Behind the scenes at BLG!

May 18, 2016

We’ve been busy here at BLG Business Advisers – new brand, new website and some fantastic new videos featuring our directors.

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Duty abolished as at 1 July 2016

May 16, 2016

NSW is abolishing many duties and charges to make the State a better and less complex jurisdiction to do business in. Most other States have already abolished similar duties and charges. Duties like this have long been seen as inefficient taxes on business and investors.

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Speculation around negative gearing and what it means for potential investors

May 16, 2016

As the election approaches, there has been increasing speculation as to how eliminating negative gearing would affect the Australian housing market. Record housing unaffordability and reducing tax revenue is creating a focus on policy in this area so it‘s likely we will see some changes in the coming years.

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Does the budget affect you?

May 11, 2016

Some budget highlights include:

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SuperStream deadline 30 June 2016 – are you compliant

May 4, 2016

At a glance:

What this means for you:

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The benefits of joining the cloud

May 3, 2016

Technology is changing the way businesses operate and the right software can transform your entire business. Cloud accounting software lets you focus on your core business. You can stop wasting time on repetitive and duplicate tasks. Let your software handle it for you, and free you up to run and grow your business.

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Is a second interest rate cut on the cards?

April 27, 2016

The cut would take the standard discount variable mortgage rate to 4.35 per cent, the lowest in records dating back to the 1950s.

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