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20.01.2022 How to restart a business Go to the door, put the key in the door, turn the lock, turn the door knob, push the door, step inside the door, close the door, walk in and start. It’s that simple (pardon the metaphor, not every business is a shop front or an office). It’s something you desire and want to do, and if you are determined then the odds aren’t stacked against you. That’s it, right now they are not stacked against you.... It’s the same to keep a business going. OK turnover is going to be down probably a lot now, the future is unknown but we know that we will all get through this so that is enough. There are people who want what you are selling or offering, there are people who love your business and yes will come back or stay with you and there are new markets if you are invigorated and want to chase those markets Yes walk in, or stay in and start. Landlords must now deal with you and can’t kick you out how do you deal with them to get the best? Finance companies will give you a finance holiday (or maybe you just take it) how can this happen? Staff need to stand own, let go (ok say sack) reduce hours. Call back how do you do all this? How to manage creditors and suppliers? How to make sure you are paid in these times? How to get full value from the stimulus package? And more See more

19.01.2022 Relocation or travelling costs Some very unserious tax advice If you are driving for business and see a rodent in your car don’t name it! Traveling with pets is considered a sign or relocation and relocation is not tax deductable. Now the chances of you being stopped at a Tax department roadblock to check if you have a pet on board when you are logging the trip for travel expenses is less than many zillion to one, however this is the sort of stuff you should be aware of. What’s really scary is your taxes are paying someone in Canberra to think this stuff up.

10.01.2022 Keeping documents Boxes of stuff in relation to your business can build up. I know, as we keep documents for many of our clients, thankfully we have a warehouse next to one of our offices that we can use to store it. Substantiation records we are told should generally be retained 5 years from the date you received the notice of assessment. Allowing for the time that it takes for tax returns to be completed and the delays it takes, we advise go for 7 years. What do we base t...his on Murphy’s Law. We assume that if something is going to go wrong then it’s when you are too hasty throwing things out. In applying this rule, in 23 years we have only needed the documents of clients once, but believe me, I was so pleased we had kept them as we were able to support our client. So, while when you can destroy documents looks somewhat vague, we suggest holding on to them for 7 years. See more

10.01.2022 If you Google low rate credit card you still come up with a list of opportunities to move to a cheaper card. The question should be what you are doing with a credit card during these difficult times anyway. Credit cards are a dinosaur, they were something you first got that have a limit of one or $2000 that would be suitable if you had a week we you were a bit short, but they became monsters with larger amounts of money with large interest gouging away months in month out wit...h compounded interest. As I said credit cards are a dinosaur and they should be extinct. You can work your way out by Ø moving to a credit card with a low interest rate and fee Ø Then shred that card and begin the journey of paying it off Ø if you have some cash savings then pay it off, your cash savings will not be rewarding you with anywhere near the interest that the credit card will be taking from you Ø start using a debit instead of a credit card Ø do not buy what you cannot afford (and that means stay away from after pain the likes you probably did not need it anyway) Sounds dramatic - you will remember this as the recession deepens.