Accountability

As the principal of one of NSW's most trusted chartered accounting firms, Alan McGillivray's experience and insights have been used by everyone from state and federal government agencies through to small business and individuals.

SINGLE TOUCH PAYROLL - ARE YOU EXEMPT?

Did you know may be exempt from reporting through STP for the 2018-19 financial year, or exempt from reporting certain payments?  
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5 ACCOUNTNG PROBLEMS YOU 'CAN' AVOID

Like it or not, accounting (no matter what the size of the business) is a fact of life. Getting your systems sorted early will save you long term problems and short term headaches. 
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ARE YOU ENTITLED TO A TAX REFUND?

It should come as no surprise that as far as leisure time activities are concerned, doing a tax return is pretty low on the list. 
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MANUFACTURING BUSINESS? WHO DO YOU TURN TO?

When it comes to manufacturing, understanding and classifying your inventory can help you plan and budget to achieve your business goals. 
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SMALL BUSINESS GRANTS

Looking for grants or assistance to start or run your business? While the government generally doesn’t offer funding just to start a business, there may be other forms of assistance available to help you. 
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QUESTIONS TO ASK WHEN BUYING A BUSINESS

Buying a business? There's a multitude of questions which you first need to ask yourself and then ask both a valuer and your accountant. 
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3 WAYS AN ACCOUNTANT CAN GROW YOUR BUSINESS

OK, so for way too long the perception of the average accountant has pretty much been in line with the colour suits they metaphorically wear  . . . grey.
 
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TAX AND FINANCE

There’s a often a misconception that financial planning is all about investments, however tax planning is an equally essential aspect of any financial plan. 
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SMSF vs RETAIL SUPER - YOUR CHOICE

Superannuation funds have come under direct fire in recent times particularly with regards to the current Royal Commission and there’s more pain to come.

If you're like most, you're no doubt outraged with the alleged rorts, gouging and lucrative commissions that have been reported.

So? Is it time to change your super fund - or time to think about taking control of your own super?

The choice ultimately is yours, and provided you don't mind taking an active hands on interest in its management - then a SMSF could be just the thing to cocoon you from the anguish so many investors are suffering nightly via media reports.

To encapsulate things in a nutshell, retail super funds cater for those who were interested in investing and saving for their retirement. 

They offer investment expertise and a degree of personal service to their clients and charge a commission for that service and in return there's a veiled expectation of a return on your investment. A portion of the profits derived from the activities of retail super funds goes to the shareholders.

If, on the other hand you're thinking a (SMSF) is the way to go - you're not alone. While there is a library worth conflicting information out there, essentially searching for greater yield and transparency does come with regulatory and financial obligations that you must adhere to. 

But armed with the right information and guidance, setting up and managing your own SMSF can not only be rewarding in the long term but relatively easy to administer.

Set up correctly, you'll also be eligible for tax concessions.

To better illustrate things check out this short video from the ATO by clicking this link.

To learn more about how a SMFS may benefit you and your family, contact us by going to our website http://www.mcgillivrays.com.au or by dropping us a line.
 

 

 


 
 


 
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SMALL BUSINESS? WHAT YOU NEED TO KNOW

While there are a multitude of things you need to consider as a small business operator, one of them I suspect is NOT how the upcoming rewrite of the banking code is going to affect you. 
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About Alan McGillivray & Associates

With more than 20 years experience, we service clients ranging from small businesses to medium sized enterprises up to $50M in turnover. Our goal is to help you achieve success in growing your business sustainably and profitably.

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