Categories
Pat Mannix
Do you have insurance in your lost superannuation?
Would you go out for a coffee and leave $10,000 on the table because you forgot? Of course you wouldn’t, and if you did, you would go back and get it! Then why are so many of us losing track of our superannuation accounts and potential insurance that they usually carry?
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5 reasons you should get a business valuation BEFORE buying
Buying into an allied health practice is a huge investment for your future with considerable personal risk for yourself. Given the size of the investment and risk a business valuation is highly recommended for many reasons, including these I have listed below:
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Thinking about SMSF?
Self-managed super fund (SMSF) has the words "self managed" in it but you don’t have to do it all yourself and if you are busy it is usually counter productive and just plain bad strategy to do it alone. A recent Investment Trends report suggests around 40 per cent of SMSF owners seek advice from a financial adviser and close to 100 per cent use an accountant or specialist administrator to assist with the compliance obligations such as tax returns, minutes, member statements, managing contributions and pensions.
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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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Managing your debtors
Do you have a lot of debtors over 90 days? We recommend you work to minimize the debtors you have over 30 days, so that it becomes a very small percentage.
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Trusts – You Must have a Corporate Trustee
he last 3 decades have seen a substantial growth in the number of people in Australia establishing trusts. The benefits of such an arrangement have been largely touted by professionals around 2 areas - asset protection and tax benefits.
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SMSF Critical Amounts, Changes & Dates
Reducing your tax exposure, maximising the opportunities available to you, and reducing your risk of an audit by the regulators is in your best interests. With the end of the financial year fast approaching, this update will help you do exactly that:
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New incentives for research & development innovators
Many years ago we had a young client that bought into a physio practice and he has developed an amazing career! His career has taken him off the tools (people), saved his hands and allowed him to follow his dream of creating a life changing product in the medical space.
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