We may think we will be in charge of our business forever but the truth is that one day we are going to have to step back and hand the keys over to someone else. Succession planning is the process of identifying and developing new leaders for when you leave the business to ensure that [...]
The Planning Starts Now As restrictions are easing in WA, we can see a glimpse of economic hope. It’s now time for businesses to prepare for the end of Government measures; including rent or loan relief and JobKeeper payments. From our DFK ANZ COVID-19 Business Indicators report, we found that 87% of respondents intend to [...]
Originally announced in March 2020, the instant asset write-off threshold increased to $150,000 and has now been extended until 31 December 2020. Initially, the increased threshold was intended to run until 30 June 2020, and allowed eligible businesses with a turn-over of less than $500 million to claim an immediate tax deduction for assets, where the [...]
The Australian Taxation Office has announced that its plans to update the rules surrounding car parking arrangements and fringe benefits tax have been deferred until next year. Originally planned to start from 1 April 2020, the changes mean that a car park that allows all-day parking but charges high fees to discourage such parking would still [...]
With the festive season just around the corner, many of us are wrapping presents and planning our holidays as we prepare for the New Year. Although exciting for most people, many small business owners dread the thought of Christmas due to the negative impact the quiet season has on cash flow. Some of the most [...]
