Level Up CA in Eagle Farm, Queensland, Australia | Business consultant

Level Up CA

Locality: Eagle Farm, Queensland, Australia

Phone: +61 7 3265 6740

Address: 6/112 Cullen Ave West 4009 Eagle Farm, QLD, Australia

Website: https://www.levelupca.com.au

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• Tax preparation service
• Accountant
• Financial service
• Business consultant

25.01.2022 $150k instant asset write-off set for significant drop (read this) We know there is about 22 days left until June 30, but we want to reinforce a key part of the Instant Asset Write Off increase of $150,000 before it reverts to its legislated $1,000 threshold, and then there is even further reduced eligibility for small businesses with turnover of less than $10 million. Another REALLY important point is that the asset will need to be used, or installed ready to use by Jun...e 30, 2020. So dont want to the 11th hour to make the purchase, start planning ahead now, and if this is the initiative that youre going to be using, then we would highly recommend moving on it, especially if its being shipped from beyond Australian borders. Basically what were trying to say here is... Look to the future, and if you are planning on becoming more profitable in the future as our country gets back on its feet - then this is a way to help you reduce tax paid in the future, and you have an additional asset. From reports were getting, this Asset Write Off scheme will likely not be repeated, so if you want to take advantage, and are seeking advice on the best way to do this to benefit your business, then get in touch with our team; 07 3265 6740 [email protected]

25.01.2022 What drives your business decisions? By asking the better questions, we can get answers. We're always looking at business from 7 feet up so we can actively review our clients position and forecasts.... For example, if you end up buying a car in the business name, how you report it will affect your tax, which will affect the cash you have, and where that it is being allocated. But this needs to be tied to your vision for your business and personal life, and everything needs to be tied back to what's important. It goes deeper than Balance Sheets and P&L reports - we look at the whole picture from a 7 foot view. Is your accountant asking you questions proactively, or reactively? Get in touch with our team on 07 3265 6740 or [email protected]

24.01.2022 Time can be a business best friend - if leveraged properly. One of the ways we can do this, is organising tax payments over a period of time. So often, business owners become frantic because of looming tax commitments.... This typically stems from a lack of education from their existing, or previous, accounting engagements, and they are unaware that they can go onto payment plans for large tax bills. We know the rules of the game, and we educate our clients so they understand they can pay off their tax obligations over time. We safeguard our clients against the common mistakes and know a thing or two about the tricks of the trade. Yes, there are also conditions you must meet, but again, we are fully aware of those and we make you fully aware of them as part of our relentless commitment to open communication. If you want strategies to put your mind at ease - then you can book a meeting or a time to chat via the link here >>> bit.ly/levelup-meeting

24.01.2022 Establishing systems and processes are one of the most effective ways in reducing waste, increasing efficiency, and profitability. Thats why were dialled into our own processes - so we can handle things more efficiently, costing you less time in the long run, and ensuring all due dates are met for your obligations. Were already well into the digital age and we have the most secure systems in place to make sure that your companys financials and returns are kept safe, wh...ile providing you the convenience of handling your tax commitments via the most effective, and convenient platforms out there. Our team of innovators will make sure your business has the tools to run ahead of the pack. We want you to stay ahead of the game and were here to give you the tools to make it happen. Ready to step up a level above the rest? Use this link to book in with our team >>> bit.ly/levelup-meeting

23.01.2022 Its more than crunching numbers, and lodging tax returns. We help clients better understand tax, so they know exactly what they can and cant claim, especially with the all of the changes and entitlements entering the market at the moment. Underneath it all, our role is to help each client be the best business it can be, and doing whatever it takes to ensure they are in the best position to continue to run a great business.... Tax isnt sexy, but its essential in managing your business cash outflows, creating room for growth and optimising ROI. Tax Planning isnt just about saving on tax, its about providing meaningful guidance, strategy and insight around tax that ultimately betters your business. Heres how we do it; Income tax return preparation and lodgement (companies, trusts, individuals, deceased estates) Fringe benefit tax return preparation and lodgement Establishment, planning and execution of tax minimisation strategies and structures Indirect tax return preparation and lodgement (GST, PAYGW) ATO disputes and penalty reduction & negation ATO audit attendance Capital gains tax planning, reduction, and calculation Business income tax and capital gains tax concessions Application for private rulings Business and investment purchase structuring for income tax minimisation Statutory minutes and reporting Work with your own accountant and receive tailored advice that hits the money every, single time.

23.01.2022 We always recommend reading the news from the source - dont jump on the back of advice from armchair experts, and third parties. Heres the best source from the ATO themselves; https://www.ato.gov.au//Extension-of-the-JobKeeper-Payment/... However, if you would like to understand how the JobKeeper updates, and strategies for your business, with or without the payments - then get in touch, so we can help you make better decisions and put you in the best position possible 07 3265 6740 [email protected] www.levelupca.com.au

23.01.2022 Whatever your opinion on politicians or policies, youre entitled to it, and were not here to stand on a soapbox and give our opinion on that. BUT, what we can see, is that our economy is faring better than many advanced economies that were driven into decline as they continue to fight. Many Economists say policy responses from state and federal governments could help in a faster economic recovery, and we will likely emerge in better shape than most.... Now, thats no reason to sit back and wait for things to happen - thats just not going to fly. We have to be vigilant and proactive, and the big unknowns are what happens after JobKeeper ends, the mortgage holidays are over, and if there is a second wave of infections when the next phase of restrictions lift. This is why were working on contingency and continuity plans with clients - get in touch if you want to put yourself in the best position to come out of the gate stronger. 07 3265 6740 [email protected]

22.01.2022 Looking for an accountant that is unlike the myriad of accountants you’ve found on Google? The average accounting firm is a dime a dozen, we’re here to clear out the smoky offices and dusty dinosaurs and develop fresh, tailored accounting solutions for your business We’re not about the talk, we’re about the walk, and we’re constantly vigilant, searching and testing ways your business can adapt and thrive to the new rules of the game.... Are you ready to work with a firm that can lift your business to new heights? 07 3265 6740 [email protected]

22.01.2022 Be wary of the one track mind. Unfortunately many Accountants and Advisors dont actually run a good business themselves, and are chained to the belief that they need to do things as theyve always done. When choosing your accounting or advisory team, it is ESSENTIAL to choose based on your aligned values and understanding of a common direction.... At the end of the day, the foundations that your business is built on (or should be built on) is from an understanding of your financials. This is so much more than a P&L report and your balance sheet. This is why we work with our clients 12 months of the year, its hard to create positive change when you dont understand the reason why so its our responsibility to invest in our clients and their education throughout the process. Strengthen your foundations, make better decisions, and reap the rewards.

21.01.2022 When it comes to businesses that havent been eligible for government stimulus packages, congratulations - this means your business hasnt significantly dropped and is likely to be able to build momentum with the right strategies in place. We understand that there are some people out there that are feeling FOMO because they arent getting access to government money, but we implore you to focus on what you need to. The key here is to quieten the noise in the rest of the market..., ensure your obligations are lodged on time, and accurate. From there, there are four key questions that affect the amount of tax youre paying. >> How are you paying yourself? >> What is your business structure, and investment structure? >> How are you using your profits? >> How are you holding your investments? Its all about moving the needle forward in the right areas of your business. Saving tax, and increasing your cash gives the business leverage to create more time, and more wealth for Business Owner, if used correctly. Its time to learn the rules of the game, and were here to help you win.

21.01.2022 The best thing about forced change, is that it makes reflection necessary. Heading into 2021, here is our shortlist of what to get done > Understanding your Balance Sheet, both in the business, and in your personal life. ... > Contingency and business continuity plans. > Reviewing insurance policies, and understanding them in detail and how it applies to your business operations. > Business structure, and stakeholder agreements. > Sales pipelines, conversion rates, and strategies. > Determining what are essential activities, and what is not. > Tax returns - get them done. > Reviewing management systems, and technology. We’ll leave it here - there’s plenty to do, and if you don’t know where to start - get in touch - we have our team dedicated to helping you bolster your position for years (and decades) to come.

21.01.2022 2020 forced many of us to step into an arena, that we weren't particularly comfortable with. But realistically, I think if we were all honest with ourselves, it illuminated our vulnerabilities as businesses and people. It pushed us to grow, and to thrive on the edge of our comfort zone.... And yet, we survived. We got stronger. We recommited to our values and vision, with more enthusiasm and resilience than we had in 2019. Perspective is a powerful tool, and that's why some businesses are paralysed by change, while others thrive through change. We are thrilled to head into the home stretch of 2020 with a roster of clients that are committed to levelling up. Unfortunately, we've had many conversations with businesses that weren't given the same advice, nor were their financials given the strength of strategy and support. If you have more questions than answers, then reach out for a second opinion. Our team have advisors take the 7-foot view of your business and put you in the best place to win. 07 3265 6740 [email protected]

19.01.2022 Believe it or not - many accountants and advisors put issues in the too hard pile, and will use reactionary strategies to keep business on life support. What theyre really doing, is increasing the likelihood that theyll need to pull the plug. It doesnt have to be that way - we are seeing clients thrive, and pick up even more opportunities as the Australian spirit is alive and well in creating the most out of crisis.... We focus on the controllables within your business - there is plenty to be saved (and made), from having a better grasp on your financial strategy, and actually putting it in place. You were made for more, and now is the time to build your business for more. If your existing accounting, or advisory team, is giving you directions that you feel are built more for life support, than growth - then its time to demand a second opinion. When you know, you know. Get in touch, and we can help. 07 3265 6740 [email protected]

19.01.2022 Look for the red flags Back in the day - it used to be the accountant, the banker, the lawyer, and the business owner presenting as a united front in planning for business success. Naturally, business has evolved, and there are a suite of managers, team members, specialists, advisors that contribute to the overall success of the business.... With the rapidly changing business landscape, it’s important to curate who you take advice from. In this time, many accountants have fallen into the cracks of being so focussed on compliance, they fail to see the key indicators that represent how a business is truly performing. Many accountants don’t even understand the inner workings of a business beyond what they’ve read from a textbook or been trained by their immediate supervisor. In this case, it can really just be the blind leading the blind, with the business owner paying the price in the end. Some red flags can be limited communication, reactive questioning, and demonstrating a complete lack of awareness about the conditions of your business and your industry at large. The old guard is starting to fall - which is why we approaching accounting and advisory differently - and our clients are reaping the rewards. With plenty more changes on the horizon, you need someone in your corner that can take the 7-foot view. Don't pay for someone to fill some forms on your behalf. Don't wait until it's too late, and the ATO starts showing up on your 'call back' register If you're lacking confidence, or haven't heard from your accountant beyond a 'tax return' - then get in touch for second opinion. 07 3265 6740 [email protected]

19.01.2022 The importance of narrowed focus. We believe great answers are born from great questions, and sometimes you need a third party that can step outside of your own perspective and get to the core of the issue. 1. Where are you now? What has changed in your business and whats within your control?... 2. What have you learned, and what is important for you right now, and in the future? 3. Where do you want to be? Are you looking for aggressive growth, or more stability? 4. What are your top three priorities for the next twelve months? 5. Most importantly, how are you going to get there? This starts with know your numbers, and goes beyond your P&L - we have ability to monitor and report different data sets specific to your objectives, and how to measure the progress. The most important thing is just to start. More mistakes are made from inaction, than taking the first step. Get in touch today to get a second opinion, or a continuity plan 07 3265 6740 [email protected]

18.01.2022 How many accountants actually take the wisdom from the pages, and put it into action? I.e. how many go beyond the basic number crunching, file shuffling, form submitting, and pencil pushing. Believe it or not - many accountants and advisors put issues in the 'too hard' pile, and will use reactionary strategies to keep business' on life support, moving them further away from the freedom they desired.... As long as they meet the minimum requirements for their billables, they can put their head to the pillow at night without a second thought. We're not built that way, our drive is born from seeing our clients succeed, not just survive. We are seeing clients thrive, as the Australian spirit is alive and well in getting back to true normality (or the closest thing we've seen to it this year) We focus on the controllables within your business - there is plenty to be saved (and made), from having a better grasp on your financial strategy, and actually putting it in place. You were made for more, and now is the time to build your business for more. If your existing accounting, or advisory team, is giving you directions that you feel are built more for life support, than growth - then it's time to demand a second opinion. Get in touch, and we can help. 07 3265 6740 [email protected]

18.01.2022 Let's talk leverage... Time can be a business' best friend - if used correctly. One of the ways we can do this, is by creating the map of budgets, and cash flow - so our clients know exactly what is due, and when.... They don't spend money they don't have, or make decisions from a place of confusion, only to have to spend an obscene amount of time agonising over bad moves, and chasing their tail. Time spent strategising and planning, always pays off in the long run. Whereas snappy decisions often result in a graveyard of lost time, money, and energy. We're just putting the finishing touches on an article about another key piece of leverage - your conversions. These are the levers that can propel you forward, just by narrowing your focus, and executing the plan to precision. Keep your eyes on your inbox for more hot tips In the meantime, if you want strategies to put your mind at ease - then you can book a meeting or a time to chat via the link here >>> bit.ly/levelup-meeting

17.01.2022 Don't roll the dice on your tax strategy. When it all works out in the wash, you get exactly what you pay for? If you look at your accounting fees as a basic commodity, and an expense you simply have to pay every year - you will get exactly that...... ...an accountant that checks the boxes, and submits some form with little thought about the benefits that can be found for your business. Whereas, if you demand quality, and want to optimise your business from the ground up - you need someone that asks the right questions and respects your expertise, while having a deep knowledge of the rules of the game. In the game of business, missteps are too costly, that's why we ask the hard questions so we can truly understand and advise from the best possible place. If you're lacking confidence in your current accountant, now is not the time to idly wait - get in touch with our team. 07 3265 6740 [email protected] www.levelupca.com.au See more

17.01.2022 It's more than crunching numbers, and lodging tax returns. It's about assessing your position and making decisions based on what's ahead. Tax Planning is never the conversation that business owners want to have when we first meet them...... ...until they realise the power it has in moving your business forward. Tax Planning isn’t just about saving on tax, it’s about providing meaningful guidance, strategy and insight around tax that ultimately betters your business. It’s essential in managing your business’ cash outflows, creating room for growth and optimising ROI. Build from this place and your business has much better foundations for decision making, and sturdier frameworks for growth. Chat to our team about custom tax solution that works FOR you today. 07 3265 6740 [email protected]

17.01.2022 . If your business currently receives JobKeeper, your arrangements will generally remain unchanged until 27 September 2020. From 28 September 2020, employers seeking to claim JobKeeper payments will need to reassess their eligibility and prove an actual decline in turnover.... Weve run through some more notes for you here - Actual GST turnover in the June and September quarters fell by at least 30%, compared to the same periods in 2019. The decline for both of the quarters needs to be met to continue receiving JobKeeper payments. - Actual GST turnover in the June, September, and December quarters fell by at least 30%, compared to the same periods in 2019. The decline for all three of the quarters needs to be met to continue receiving JobKeeper payments. *Additional tests will apply from 28 September 2020, and we will be keeping everyone up to date as possible If you have any questions, reach out to our team (07) 3265 6740 [email protected]

17.01.2022 Okay, so for the most part, everyone who is eligible and hits the criteria should be on a good path with getting their JobKeeper Payments (If not, enrolment is still open until May 31st) From here, Declarations are a key component in receiving ongoing support.... Every month moving forward , GST turnover needs to be reported by the 14th. Meaning, youll need to aim be able to produce a profit and loss report roughly around the 10th that is as up to date as possible - that shows you are still experiencing the downturn and should receive the reimbursement. So make sure your books are cleaned up on an ongoing basis If you are no longer experiencing downturns then BOOYAH - then you wont have to make the declaration! But if you have enrolled expecting the downturn later down the track, you will still need to ensure your basic bookkeeping is kept very much up to date. Having accurate financial records across the board is important. If you have your own business portal active, and are unsure if you should be declaring this or not - shoot us an email @ [email protected]

16.01.2022 No matter what category your business falls in, the most important measure to consider is to provide your employees and customers with extreme value - this is significant in creating lasting business success. Our GM, Madeline, sat down with Josh from the Business Built Freedom Podcast, and talked about strategies to help you maximize your success rate, and how consistent improvements to enhance your business are critical to its success and sustainability. Listen to the full... episode here >> https://l.dorks.com.au/mclift See more

16.01.2022 FY20/21 put many businesses in between a rock and a hard place. But lets not forget, business has always had challenges - we cant merely point to the first half of the year and say that business was bliss before it, and it will naturally return to that state afterwards. Perspective is a powerful tool, and thats why some businesses are paralysed by change, while others thrive through change.... Weve been hearing some horror stories out there, so if you feel your financials havent been given the proper look - and you have more questions than answers, then reach out for a second opinion. Our team have advisors take the 7-foot view of your business and put you in the best place to win. The come back is always bigger than the set back, and if you want a team that has the map to traverse this new terrain then get in touch 07 3265 6740 [email protected]

16.01.2022 Some big changes on the horizon for JobKeeper 2.0 Well provide regular updates during the transition so you are armed with the right knowledge to navigate through this next phase Credit: Chartered Accountants ANZ

16.01.2022 What drives your business? We're not just talking about passion and persistence - but what REALLY moves the needle in your business. Remember, a goal is not a plan - it's just an idea.... Too many business owners spend time talking about what revenue target they want to hit, but rarely understand which road to take to actually get there. It's beyond balance sheets and P&L's - we want to look under the engine and determine areas of attention. How many leads per month are you getting on a consistent basis? How many do you convert to a sale? How long does a client particularly stay with you? Is it a recurring revenue model, or do we have to prompt them to purchase again when the need arises? What would happen to your business if you increased your key metrics by just 10% Business isn't easy - we're not going to pretend, but having a strong financial strategy and an understanding of your numbers can be simple. We're working on an article to explain this in more detail - stay tuned

15.01.2022 The importance of narrowed focus. We believe great answers are born from great questions, and sometimes you need a third party that can step outside of your own perspective and get to the core of the issue. 1. Where are you now? What has changed in your business and what’s within your control?... 2. What have you learned, and what is important for you right now, and in the future? 3. Where do you want to be? Are you looking for aggressive growth, or more stability? 4. What are your top three priorities for the next twelve months? 5. Most importantly, how are you going to get there? This starts with know your numbers, and goes beyond your P&L - we have ability to monitor and report different data sets specific to your objectives.=, and how to measure the progress. The most important thing is just to start. More mistakes are made from inaction, than taking the first step. Get in touch today to get a second opinion, or a continuity plan 07 3265 6740 [email protected] See more

15.01.2022 Dont wait for the big cracks to show... Unfortunately - just because someone runs an accounting firm, doesnt mean they know how to run a business. If you want some telltale signs that your accountant isnt looking at your file more than once a year - here it is.... - They only call in June/July, regardless of what is going on in your business, or the market - They only answer questions reactively. - They dont ask you questions proactively. - They dont see the benefit in regular catch ups. - They dont understand your business goals, or your personal goals - They dont understand how you operate The old model is broken - which is why we approaching accounting and advisory differently - and our clients are reaping the rewards. With plenty more changes on the horizon, you need someone in your corner that can take the 7-foot view. Dont pay for someone to fill some forms on your behalf. Dont wait until its too late, and the ATO starts showing up on your call back register If youre lacking confidence, or havent heard from your accountant beyond a tax return - then get in touch for second opinion. 07 3265 6740 [email protected]

15.01.2022 Discounts have become a way of life in the Australian marketplace. Promotions arrive in your inbox offering discounts for every occasion it would seem that every item has it’s own day of celebration, and a perfectly paired discount but in reality, it’s about as appealing as a box of Coolabah, and a cold Chiko roll from down the road. We’re confident in saying most businesses have offered a discount from a place of fear.... It’s the default response when we’re trying to win new business. To make a proposal more attractive, and a last-ditch tactic to close the deal. When navigating through the ups and downs of business, it can be tempting to reduce prices to get sales across the line, but as we’re going to discuss in this article, it’s important to think about the long term effects of discounting, and what factors to consider in making a decision. As we head into the home stretch of 2020, we urge you to consider about the long term consequences of slashing prices to get deals across the line. It's okay to use incentives, but ensure it promotes profitability. We dive into the true cost of discounting here; levelupca.com.au/discounting-is-it-worth-it/ See more

15.01.2022 The quality of questions will determine the quality of answers. Businesses are not created equal. Markets are not the same.... Taxation and your obligations and entitlements are constantly evolving. So why do so many accountants and advisors recycle the same drivel they've been prescribing for the last 20+ years. Time's are changing and you need to evolve - we're not your copy-paste, cookie-cutter type accountants. We're in your corner, and we're here to help you win

15.01.2022 JOBKEEPER REMINDER Heres a summary of the recent announcements to eligibility and payments, as of the 3rd of August - For JobKeeper fortnights beginning on or after 3 August 2020, the date for determining the eligible employees have changed from 1 March 2020 to 1 July 2020.... - This means that staff that werent employees of your business at 1 March, may now be eligible for JobKeeper if they have been employed at 1 July. - The JobKeeper program has been extended to March 2021. You will have to satisfy a new turnover test for your business to be eligible. - From 28 September 2020, the payment will be reduced from $1,500 per fortnight to $1,200 per fortnight - From 4 January 2021, it will reduce again to $1,000 per fortnight Credit: Chartered Accountants Australia and New Zealand

14.01.2022 Too many businesses and organisations fall victim to their accountants, and advisors putting them in the too hard pile. Their clients blend into a pile of black, white, and red paperwork, as they overload their own workflows to make their own ends meet, and fail to give the evaluation and advice they promised in their onboarding. Shocker - some accountants arent that great at business, and dont value their time.... If youve erred on the side of saving fees - you may have also voted against saving tax as they basically submit your forms, no questions asked. Trust your gut, and ask yourself if you really feel your accountant has your back, and ask, are they putting in the work to help your business win? We have various checkpoints across multiple team members We invest in our systems, and our people for exactly this reason. If you were limping around, and couldnt bear weight on your leg, and a doctor told you to walk it off, and youll be fine - youd likely think twice, and get a second opinion. The longevity of your business depends on the accuracy of your financials. If you feel youre not getting the answers you deserve, get in touch for a second opinion. 07 3265 6740 [email protected]

14.01.2022 Back at it with another reminder - 2 Days to go

14.01.2022 The Queensland Government announced the SECOND ROUND of $10K Business Adaption Grants will open on the first of July! This is brilliant news for those who missed out the first time round and didnt manage to get their application in on time. If you have submitted a Round 1 Application, and havent heard back yet, you are eligible to apply for Round 2....Continue reading

13.01.2022 As business owners, it can always feel your growth plans are as steady as a leaning tower of Jenga. Jenga is a game of reaction to what is, with very little planning or foresight. Business isn’t easy. We know that, you know that.... But we believe business can actually be MUCH simpler - if we continue to focus on the right areas, and it should represent more of a game of chess. This article is coming at you from a different angle, while we are Chartered Accountants and Advisors, we are proponents of building the best business possible. We aren’t just creating plans to save you tax, it’s about providing meaningful guidance, strategy and insight around tax that ultimately betters your business. When the business is firing on all cylinders, it is providing consistent, predictable returns, and that is the best possible place to make better decisions and continue to grow. For businesses looking to increase revenue - committing to using the Rule of 10% has been a game changer for so many of our clients. Increase the number of leads Increase the rate of lead to sale conversion Increase the average dollar sale. Inevitably, your revenue will increase month on month, year on year. Check out our latest article where we take a deep dive https://levelupca.com.au/the-simplest-way-to-grow-your-bus/

12.01.2022 A new opportunity lies ahead. While the 19/20 Financial Year hit many businesses with a series of curve balls, it has shown us just how resilient the Australian spirit is within the business community. It only takes a glance around at our global neighbours to see that we are in a great position to adapt and thrive.... The key being adaption, which is why the government is continually investing in Digital Adaption Grants, in which Round 2 opens on July 1, 2020. See more information here >> bit.ly/37OWmBD Check your eligibility here >> https://bit.ly/3fXAp6r Whether or not you get the grant, our message remains the same - everything rolls back to the importance and strength of your financial strategy.

12.01.2022 Your accountants phone broken again? We know the type... The ones that only call in June/July, regardless of what is going on in your business.... How can anything be improved of its only worked on, once a year? Weve said it before, and well say it again. Dont pay for a pencil pusher - someone who just ticks and flicks on your files and forms. For the modern business, this just doesnt fly. With all of the changes occurring in the last six months, and with plenty more on the horizon, you need someone in your corner that can take the 7-foot view, As business owners, our life is about time. Theres always a deadline Theres always a to do list Theres always a call back list Dont skim over the financials. Because the next call you get, may be from the ATO. If youre lacking confidence, or havent heard from your accountant beyond a tax return - then get in touch for second opinion. 07 3265 6740 [email protected]

12.01.2022 Business, and the obligations associated with it, wait for no one. Youre on the front lines, doing what you do best - making your business run. But with the ever changing landscape, you can only have so many balls in the air, and sometimes that means looming obligations get swept under the rug.... Thats why you need a team in your corner thats going to add fuel to the fire, keep you accountable, and propel you forward. Whether its ongoing stimulus eligibility, changing restrictions, laws, or legislation in your sector, GST that has you stumped, or FBT is giving you headaches - were here to navigate through it with you. Skip the tax cramps, and the and trust our team to implement strategies that work seamlessly, whilst you get back to what you do best run your business. 07 3265 6740 [email protected] www.levelupca.com.au

11.01.2022 THIS JUST IN The instant asset write-off threshold of $150,000 for businesses with an aggregated turnover of less than $500 million will now be extended to 31 December 2020. The extension, estimated to cost $300 million over the forward estimates period, will be available to around 3.5 million businesses.... Without the extension, the instant asset write-off threshold of $150,000 would have reverted to the $1,000 threshold and eligible only to small businesses with a turnover of less than $10 million after 30 June. The instant asset write-off also helps to improve cash flow for businesses by bringing forward tax deductions for eligible expenditure. The threshold applies on a per-asset basis, so eligible businesses can immediately write off multiple assets provided each costs less than $150,000.

11.01.2022 Now that we're heading into the homestretch of 2020 - we really want to stress that come 28 March, 2021 - this is really done folks - once you run out (if you still qualify), then it's done. Our biggest piece of advice - don't wait until you run out of money to start making plans. JobKeeper, or no JobKeeper - we are BIG on noticing the signs of a changing trajectory within the business, and focusing on the small, consistent moves you need to make on a regular basis for the bu...siness to get on track. There is a lot to be optimistic about, and we have seen many businesses adapt and thrive over the last 6-7 months, but the government has clearly shifted focus from the lane of support, to more empowerment of businesses so they can recover and invest in growth. 07 3265 6740 [email protected] www.levelupca.com.au

10.01.2022 We’ve been fortunate to have been introduced to many business owners that are looking to Level Up over the past few months. However, what is unfortunate, is the disparity that we find in how their previous accountants have treated their financials, and the clients themselves. They feel they’ve been left in the dark, and have no idea if they’ve met all of their obligations, if any of those obligations were even lodged on time, or if they were in line with the Taxation Off...ice’s expectations. We don’t just gloss over the details, we thoroughly analyse your current situation, and align it with where you want to take your business. The foundation of it all is ensuring you are compliant, and it requires teamwork. You know YOUR business, and YOUR industry - we know numbers, business, taxation, and how to grow. We’re not going to endanger your business by giving you ‘blanket’ advice - we customise YOUR solution to ensure you’re not putting yourself, your business, or employee’s livelihoods in jeopardy by missing the mark on the basics. If you’re lacking confidence in your current accountant, or advisory team, and feel you’ve been left in the dark - get in touch with our team on 07 3265 6740 or [email protected]

10.01.2022 As business owners, it can feel like there is a misinformation minefield out there - dragging you in every which way. We heard this quote the other day, and it really resonated. "Be careful with who you curate your advice from"... Unfortunately, many 'Accountants' and 'Advisors' don't actually run a good business themselves and are chained to the belief that they need to do things as they've always done. When choosing your accounting or advisory team, it is ESSENTIAL to choose based on your aligned values and understanding of a common direction. At the end of the day, the foundations that your business is built on (or should be built on) is from an understanding of your financials. This is so much more than a P&L report and your balance sheet. This is why we work with our clients 12 months of the year, it’s hard to create positive change when you don't understand the reason why so it’s our responsibility to invest in our clients and their education throughout the process. Strengthen your foundations, make better decisions, and reap the rewards. Art Credit: @swissgo4design

09.01.2022 Lets not mince words, the roadmap out is not going to be a straight line. Were doing a lot of work around contingency and continuity plans at the moment, as well as financial counselling to create more sustainable businesses in this new economy. Adaption is key, which is why the government is continually investing in Digital Adaption Grants, in which Round 2 opens on July 1, 2020.... Take advantage of every opportunity to move your business forward. The grant can be used for services or products that will help your business adapt and succeed in the current climate. See more information here >> bit.ly/37OWmBD Check your eligibility here >> https://bit.ly/3fXAp6r Last round, the grants hit their peak within 24-48 hours, so we recommend fielding quotes and getting your financials together right away

09.01.2022 If cash is within the foundations of any successful business - why do so many businesses allow poor planning to burn their hard earned money? Tax Planning isnt just about saving on tax, its about providing meaningful guidance, strategy and insight around tax that ultimately betters your business. Heres how we do it;... Income tax return preparation and lodgement (companies, trusts, individuals, deceased estates) Fringe benefit tax return preparation and lodgement Establishment, planning and execution of tax minimisation strategies and structures Indirect tax return preparation and lodgement (GST, PAYGW) ATO disputes and penalty reduction & negation ATO audit attendance Capital gains tax planning, reduction, and calculation Business income tax and capital gains tax concessions Application for private rulings Business and investment purchase structuring for income tax minimisation Statutory minutes and reporting Work with your own accountant and receive tailored advice that hits the money every, single time. Thats Level Up. Chat to our team about custom tax solution today. 07 3265 6740 [email protected]

08.01.2022 We dont leave our clients in the dark. We place a huge importance on making sure our clients know what their obligations are, and creating a clear strategy around it. They need to know how much theyre paying, when theyre paying it, and most importantly, why theyre paying.... We dont let things get messy. Its our proactive approach that makes sure they never fall behind with their obligations, so they can get on with the business, of their business.

08.01.2022 The best thing about forced change, is that it makes reflection necessary. How often do we hear each other complain we dont have time to get things done? Well, that excuse has been all but negated over the previous few months.... At the very least, there is 5-10 hours back in daily commutes and travelling. While people are starting to head back into the office, and/or create hybrid working arrangements, we recommend the below for those that want to use these remaining weeks before Phase 3 of our reopening. > Understanding your Balance Sheet, both in the business, and in your personal life. Understanding the relationship between both, and what this means, as you look to build wealth. > Contingency and business continuity plans. Proactively highlighting risks, and putting strategies in place to mitigate them, and accelerate the position of your company in the months to come. > Reviewing insurance policies, and understanding them in detail and how it applies to your business operations. > Business structure, and stakeholder agreements. If you lack clarity, or the right documentation around this, the risk is far too great to kick down the curb. > Sales pipelines, conversion rates, and strategies. Some markets are in survival mode right now, while others are thriving. Understand where the opportunities are, and how you can maximise them. > Determining what are essential activities, and what is not. This time has been one of reflection, and like we stated the other day. What did you realise you no longer have to commit to? What did you realise you cant put off any longer? > Tax returns - get them done. This is a given, make sure these are up to date, so you are in the best position to make better decisions, and also understand your eligibility for different government schemes. > Reviewing management systems, and technology.Understanding what drives performance, and how to make your business even more efficient to reduce unnecessary costs. Well leave it here - theres plenty to do, and if you dont know where to start - get in touch - we have our team dedicated to helping you bolster your position for years (and decades) to come.

07.01.2022 It pains us to hear how many businesses are being left in the dark by their current accountants and advisors. Now is not the time to sit by the phone waiting weeks for a reply; it's time to work with a team that will come to you with the right solution for YOUR business. Our key values are built on client communication.... In the game of business, missteps are too costly, that's why we ask the hard questions so we can truly understand and advise from the best possible place. We're in the trenches working WITH our clients, not against them, and because of that, our clients stay informed, empowered, and in control of their business. If you're lacking confidence in your current accountant, now is not the time to idly wait - get in touch with our team. 07 3265 6740 [email protected] www.levelupca.com.au

07.01.2022 Time to get your financials up to date, and your P&L reports ready to go - GST Turnover needs to be reported by the 14th for receiving ongoing support in the JobKeeper program. They key theme here is that these figures must still show that you are experiencing a down turn as defined by the turnover tests. If youve experienced a big upswing and things are starting back to normal, you may not need to make a declaration, because you no longer need the funding - which is GREAT N...EWS But if you have enrolled expecting the downturn later down the track, you will still need to ensure your basic bookkeeping is kept very much up to date. If you have your own business portal active, and are unsure if you should be declaring this or not - shoot us an email @ [email protected]

05.01.2022 Its coming up to that time again Declaration time is coming up in just over a week, so get those financials up to date and P&L reports ready to go - GST Turnover needs to be reported by the 14th for receiving ongoing support in the JobKeeper program. For the declarations, these figures must still show that you are experiencing a down turn as defined by the turnover tests.... If your business is getting back on track, and you are no longer affected under the parameters of the turnover test than you may not need to make a declaration. This is a GREAT thing, by the way, and we are starting to see businesses recover, adapt, and thrive. While a great initiative, the less we need to rely on stimulus, and incentives, and the more we can fund from our own sales, the better we will all be in the long run

05.01.2022 Lets keep it real - businesses are created to solve problems in their market. As long as there are problems, there will always be a need for solutions. While some markets are in survival mode, and we are not overlooking that aspect - there are still opportunities for many to thrive, and were seeing it with our own eyes.... Business is adapting, service offerings are adapting, products are being created, and demand is bubbling up for those willing to take the opportunity in both hands. The underlying thread? They are maximising every opportunity in their financial strategy. When you know the numbers, you make better decisions. You understand the upside, and you can mitigate the downside. Do what you can, with what you have - and emerge victorious, with a story to tell. Its time to level up. Get in touch with our team on 07 3265 6740 or [email protected]

05.01.2022 Are you finding it hard to decipher Accountanese? You know the type... The accountants that talk more than they listen, and fill their emails and reports with dribble and hard to understand language.... *thats if they communicate or send them at all* Thats why we decided to do things differently - we leverage technology and the knowledge of an experienced 7 Foot team of thinkers AND action takers. Its not enough to KNOW we must DO We mean business, and we know our clients success is our success. Thats why were in the trenches with our clients every day, and we relish our victories together. If youre being left in the cold by your current accountant, get in touch with our team... 07 3265 6740 [email protected]

04.01.2022 As we start turning the page, and heading into the home stretch of the 19/20 Financial Year - were confident that many of us will look at this as being the year that delivered many lessons. Changes to our usual and have created more questions around priorities, and where we spend our time, energy, and focus. From bush fires ravaging our communities, to global issues that interrupted everyday life as we knew it.... To that, we ask two questions... 1) What did you realise you were doing, or committing to, that you no longer need to attend to? 2) What did you need to start doing, that you can no longer (or shouldnt) put off anymore? Momentum starts with asking the right questions, and continues with executing great strategy. Get in touch if youre ready to take the lessons, and start solidifying your foundations for many years to come.

04.01.2022 Dont roll the dice on your tax strategy. When it all works out in the wash, you get exactly what you pay for? If you look at your accounting fees as a basic commodity, and an expense you simply have to pay every year - you will get exactly that...... ...an accountant that checks the boxes, and submits some form with little thought about the benefits that can be found for your business. Whereas, if you demand quality, and want to optimise your business from the ground up - you need someone that asks the right questions and respects your expertise, while having a deep knowledge of the rules of the game. In the game of business, missteps are too costly, thats why we ask the hard questions so we can truly understand and advise from the best possible place. If youre lacking confidence in your current accountant, now is not the time to idly wait - get in touch with our team. 07 3265 6740 [email protected] www.levelupca.com.au

04.01.2022 Get on with the business of doing business, and reignite the spark of ideas that move you forward. We know business owners can relate... When we spend too much time IN the business, its hard to take the step back and see what steps we have to take to get from Point A to Point B.... So we revert to only doing what we know, and that keeps us on the proverbial hamster wheel. No creative ideas come from this place. It doesnt matter what business youre in - those that creatively solve problems and adapt are the ones that have longevity. You started to this business for a reason, not to wear golden handcuffs to a business that owns you, and minimises choice, rather than promoting it. But there is a way... While it is simple, its not easy - they arent synonyms. Minimise your tax Maximise your cash Leverage your time Build your wealth We draw a map of where your business can go, and how you can rule the game. But its not enough to just KNOW - we must DO. Its one thing to see a sheet of numbers, its entirely another to understand what they mean for YOUR business. If knowledge alone lead to breakthroughs - wed have a planet full of billionaires after the invention of internet. Its how to filter through the RIGHT information for you, and working with a team that is actively engaged to helping you IMPLEMENT the right changes, as they need to happen. We practice what we preach. Were here to win, and were bringing you with us. If youre lacking confidence in your current accountant, or advisory team, and feel youve been left in the dark - get in touch with our team on 07 3265 6740 or [email protected]

04.01.2022 Do the numbers stack up? Unfortunately for a lot of businesses, they look to attain services at the cheapest possible price. Many get lost in a train of thought, feeling they have achieved some accomplishment in discovering someone willing to work for minimal monetary exchange.... But as anyone who values their time, and their contribution - you get exactly what you pay for. ...and the fool pays twice. i.e. businesses that shirk on their accounting fees, often pay substantially more tax. Just last week we were able to save a client over $45,000 in tax, with a review, and some pointed questions. Questions, they had never been asked in their many years in business, despite working with a qualified accountant the entire time. Work with a team, that can actually dedicate the time and resources into finding SOLUTIONS for your business, and put you on a path to grow the right way. If youre reading this 1) Look at your accounting fees 2) Look at the amount of tax youre paying Ask yourself, are you seeing the value? Do you have clear answers, and clear plans? Or, are you feeling short changed? Get in touch; (07) 3265 6740 [email protected]

03.01.2022 Be wary of the fear mongering language in the media. While we want to ensure that complacency doesnt settle in, there is a lot of talk in "The September Cliff". Basically, this is referring to the doomsday that a number of zombie companies that may be getting propped up by JobKeeper payments and freezes, when realistically they had no business being in business before the restrictions hit.... There is a lot of prophets promising the apocalypse when its all over. However, there are many clients that are already adapting, and thriving - coming off JobKeeper payments early and making moves. There is always opportunity, and always a rational strategy to follow. Decisions become infinitely easier to make when the numbers stack up. Get in touch to ensure you have your continuity and contingency plans in place. Choose to focus on the horizon, not the cliff. 07 3265 6740 [email protected]

02.01.2022 I don't think we've had many conversations this week where someone hadn't mentioned how quickly this month has gone. In less than 2 weeks, we're in November... ...and just 4 weeks later, we're in December.... As we head into the final sprint of this year, we are having many conversations about focus points and strategy in 2021. Here's what we recommend; > Understanding your Balance Sheet, both in the business, and in your personal life. > Contingency and business continuity plans. > Reviewing insurance policies, and understanding them in detail and how it applies to your business operations. > Business structure, and stakeholder agreements. > Sales pipelines, conversion rates, and strategies. > Determining what are essential activities, and what is not. > Tax returns - get them done. > Reviewing management systems, and technology. We’ll leave it here - there’s plenty to do, and if you don’t know where to start - get in touch - we have our team dedicated to helping you bolster your position for years (and decades) to come. Don't wish 2020 away - start putting things in place and use this time to enter 2021 from a position of strength.

02.01.2022 The quality of questions will determine the quality of answers. Businesses are not created equal. Markets are not the same.... Taxation and your obligations and entitlements are constantly evolving. So why do so many accountants and advisors recycle the same drivel they've been prescribing for the last 20+ years. Time's are changing and you need to evolve - we're not your copy-paste, cookie-cutter type accountants. We're in your corner, and we're here to help you win See more

01.01.2022 More JobKeeper breakdowns This one pager is courtesy of the ATO and dives into the extension of the program To download the PDF or for more information, visit ato.gov.au/JobKeeper