That your business becomes as profitable as it can be (on a cash basis). Profit pays debt, profit drives the business forward and profit gives you the reward for all your hard work.
Your Business Angels - Blog
What is Business Insolvency?
Business Insolvency is when the business cannot pay its debts. The market forces and the skills of the owner cannot create a change, or that the owner has no other resources (or has no desire to find other resources) to put into the business to change the circumstances. The business cannot make money, or cannot […]
Survival In Business Predicting the economic future and making sure your economic future has a chance
There is always editorials in papers, commentators in the media and occasionally an intelligent conversation over social media as to where we are going economically (big picture stuff) that usually comes down to, who is paying the taxes and who is getting the taxes. (I love starting these arguments). I read last week that a […]
When things get a lot more serious with the Australian Taxation Office – we can help. You are human – things go wrong, let us use our skills to help you.
We know, you stuck your head in the sand, had no idea where to start, it all became too much, you are scared to go to jail and thought it was being looked after. Then comes the pressure from the Australian Taxation Office and the pressure builds up. You ignore their case and then it […]
Non-lodgement Getting the accounts up to date
Getting the accounts completed means the pressure is gone from the ATO. We can lodge and negotiate a deal, and you get to see how the business is going, which will allow you to make improvements and start thinking about new goals. Non – lodgement fees – ouch! There are several risks in not lodging […]
Being chased for a tax debt Negotiating the tax debt
Managing tax debt is a skill. Here is a list of the most important things I can tell you about negotiating a tax debt: The client needs to get on with business, so we manage all the communication with the tax office. Even when there is a lot of pressure from the tax office, they […]
A warning about ambulance chasing
When the Australian Taxation Office sends you anything court related, the action will appear on a court list. For many companies these are their marketing lists and start to email, phone call and chase the directors or individuals that have received the wind-up notice court summons or whatever. There is a standard formula that is […]
Problems with the Australian Taxation Department We stand in front of you – so you don’t have to front the ATO
There are 2 main problems that exist with businesses and the tax department. The first is that you owe them money, or they think you owe them money. That is, you have lodged but been unable to pay them. The second is that you have (through self-assessment) had your tax lodged and they don’t believe […]
Special Note for Construction and Contracting Businesses and Manufacturers that turn between $2 million and $10 million – you may be paying too much GST
No one seemed to notice the changes in reporting from accrual to cash for businesses up to $2 million dollars. That means that business that have been paying GST on debtor’s ledger and retentions may not have to do this saving in some of our experiences up to $100k a year and dramatically helping with […]
Our Services Accounting
Your Business Angels has been operating accounting businesses and tax services from our accounting business for over 15 years. It seemed logical, that once we helped a client with a business turnaround, then we stayed to help their business move forward aand survive in what is always a difficult business environment. Over this time, we […]
A questions and answers session on mortgages for business people after the Royal Commission
Are only high interest rates offered when you are borrowing your way out of a business problem? High interest rate loans are usually a short-term solution which enable you to move on with your life. They may have enabled you to buy your first home or consolidate debt. They should not be a long-term solution […]
What’s our real experience
I have been talking with our team of accountants – and most of them are telling me that they can’t remember when they last saw an audit – apart from a superannuation audit. In the latest budget the ATO has $133.7 million extra funding to target those who aren’t paying their fair share of tax. […]
Now, those drawings are really going to
king hit you
And it will be tax hell.
There is always changes and new legislation buried down inside a federal budget. The changes the press don’t see or report. But there is a real change in regard to drawings from a company and it’s dramatic. So many business owners just draw from their company and they will leave it to their accountant to […]
All I want is direction and solutions
That’s why I am sitting in front of you
So, I’m sitting in front of a business owner who has the perfect business model for a café. I know, there are thousands of café and franchise cafes in our city, but I felt that what he had was truly unique. He and his partner had arrived at their new business model through trial and […]
One letter saved the ATO millions – great example of a feedback loop
Relating something the ATO did, to something we do.
The tax office and a specialist behavioural economical research unit within the federal government used a randomised trial to target 2000 tax agents, specifically naming individuals lodging higher than expected work-related expenses claimed in a letter. Alongside a control group of tax agents who didn’t receive letters, the trial found individual clients identified by correspondence […]
Running a larger building or Sub-contracting business. Bet you are paying too much money.
Is your construction business paying thousands of dollars too much in GST – you probably don’t know – right? For $500 Your Business Angels using the precis accounting system will show you where your business is paying too much GST during this financial quarter and we will show you what to do about it. This […]