Let’s face it: no-one likes to think of death, especially their own. It’s not exactly a great conversation starter, is it? This might explain why so many people end up “dying Intestate” which means they die without a will and, as a consequence, have their assets distributed according to State law.
When a prospective client asks you for a quote, it’s a powerful opportunity to make a sale. In fact, with the right response you may be able to ‘seal the deal’ almost immediately.
For many, the word ‘budget’ is about as appealing as the word ‘diet’. It seems to imply what you will go without, rather than what you will achieve.
Our chances of living longer are increasing as life expectancy continue to increase. At age 65 a person’s chance of needing aged care during their remaining lifetime is 68% for females and 48% for males. Old age can be associated with declining cognitive abilities, resulting in problems when managing personal finances.
The Insurance market is reviewing cover in respect to mental illness. At the time of writing, some policies specifically exclude mental illness whilst others are reviewing their cover.
Still using spreadsheets for rosters, timesheets, and payroll? The administrative load involved in efficiently rostering staff, preparing accurate timesheets, and ensuring that everyone is paid correctly can be a huge burden on a small business – especially if you are doing it all manually.
Disasters. They happen. In personal lives, and in business. That’s not being negative, that’s being real. Every day disasters affect families and businesses somewhere in the world, but it always seems to happen to someone else, doesn’t it?
As much as you try to share skills, knowledge and information in your company, you probably have some people who are key to your business’ success.
They say only two things are certain in life: death and taxes. For a lot of people, there’s also a third certainty in life: the pain of keeping track of every receipt when it’s time to do the taxes.
“You need to work on your business, not just in your business.” Made popular by The E-Myth Revisited author Michael Gerber, it’s advice I’m sure you’ve heard dozens of times over the years (I certainly have). But despite being told over and over again, many small business owners still don’t seem to truly understand what
Cloud computing and web-based apps have undoubtedly improved business efficiency. But once you and your team start using various online apps, one aspect quickly becomes inefficient (not to mention downright annoying): having to repeatedly enter usernames and passwords to log in.
With the end of financial year fast approaching it is a busy time for businesses. Below is a basic summary of important dates and year end processes to get you started. Important Dates 14th July 2017 – Payment summaries need to be provided to employees by this date 28th July 2017 – Due date for
Over the last 5 or so years the cloud computing has gone from being the new frontier to a common business practice. Everything from internet banking to sourcing your favorite recipe is now “on the cloud”. So the question is why has this occurred and what does it mean for your business? Firstly, lets define
Income Protection (IP) is a policy most medical professionals are aware of but if you are self-employed, do you have the right policy to cover ongoing fixed expenses of the practice? IP covers up to 75% of your gross income but it doesn’t provide additional cover for things like rent, administration wages, equipment leases, net
The majority of medical professionals are aware of the importance of Income Protection (IP) and have the relevant policy in force, however; there is only a small portion that have their fixed business costs covered. Business Expense Insurance (BEX) is a policy designed to replace up to 100% of eligible fixed business expenses such as
On Tuesday 9 May, the Federal Government handed down its Budget for the 2017–18 financial year. According to Federal Treasurer Scott Morrison, this year’s Budget is founded on the principles of fairness, security and opportunity. Mr Morrison claims that the government’s proposed measures will raise almost $21 billion in revenue over the next four years,
Over the past couple of months we have received many queries from clients receiving suspicious emails from government agencies in regards to their financial information. Example of email received For this particular example, clients have been receiving letters from ASIC for the renewal of their company. Consider the following: If POOLE GROUP have set up
The sharing economy is booming thanks to the far-reaching capability of the internet and the growing use of smart phones. While it might have started as a good way to get a little more cash and fun, people often are unaware that sharing their private home or car with strangers or doing the lawn for
You may have heard in the past couple of days, the senate has passed the key Bill (announced at the last federal budget) which will affect the popularly discussed Super Reforms. Expand each of the key measures below to see the breakdown?
Unoccupied buildings – what you need to know An unoccupied or vacant home, building or property is perceived as a higher risk. Insurance policies generally allow for short periods of unoccupancy; however the allowance period varies. It can be up to 60 or 90 days, although not all policies are the same. One Landlord’s policy
The Australian Securities & Investments Commission (ASIC) has recently released Report 498 which highlights the benefits of using an adviser for personal retail insurance (Term Life, TPD, Trauma and Income Protection) as opposed to other channels like direct insurance and insurance held via group superannuation accounts. The report shows that you are 71% more likely
In the first six months of 2016, Scamwatch has reported Australians have lost over $48 million to scams.
Get coverage before renovations When any alteration, renovation or upgrade occurs at your commercial property or home it’s vital to ensure that you have adequate insurance coverage in place. Depending on your contract and what work is being undertaken, we may have to endorse or arrange alternative or additional coverage. The majority of insurance policies
Torrential rain during June left waterfront properties in Sydney’s northern beaches teetering on a cliff edge after the force of the sea washed away the land.
Last week, several of our team members headed down to Brisbane for the coveted Xerocon. A technology conference aimed at Accountants & Bookkeepers (which at first you wouldn’t have though so) with entertainment with the likes of a cartoonist, a Hindu priest, dunny putt-putt, seesaws, and a flash mob. Our team walked away from the
In the past few months, we’ve found that the ATO has been relentless on those failing to lodge their tax returns (or other documents) on time. An individual has recently been slugged with a combined penalty of $1750 for not lodging their 2014 & 2015 tax return.
For many years now Australians have been allowed to place non-Concessional Contributions into superannuation with minimal restrictions. This all changed on the 3rd May 2016, when the Government announced changes to the level of annual concessional contributions and changes to the life-time limit on non- concessional levels. The extra tax, applicable when you breach these
The federal election has now come and gone and we await the passing of the legislation announced in the May 2016 budget. If this legislation is passed, our clients will be in a better position to plan moving forward. However, July each year offers us a reminder to attend to a number of housekeeping issues
On the 1st July 2015 the Federal Government changed the definition of terminal illness for the purpose of superannuation and tax law changed whereby the period to be able to make a claim was extended from 12 to 24 months. This significant change provides those suffering from a terminal medical condition earlier access to their
The Federal Government recently announced a raft of new initiatives under their “National Innovation and Science Agenda” which you may have seen advertised on television. One of these initiatives was incentives for anyone who invested new equity capital in an eligible startup business.