TURNAROUND / NEW TECHNOLOGY

Trade business client suffered significant losses over a couple of years due to top heavy management costs and downturn in work. Business scaled back due to financial position. Worked with client to establish a budget & get accounts in order. Recommended new cloud based Job Management and Invoicing system which synced to the existing accounting package, which we also moved online. Job Management system has resulted in huge efficiencies. Business on track with budget and over achieved with revenue. 

Outcome: Business back on track financially, and growing again. Now on a sustainable footing -  lean, efficient and profitable. 

MOVING BUSINESS PREMISES TO SELF MANAGED SUPER FUND - NO CGT

This is an opportunity we have used several times for clients.

Background – clients owned commercial premises and wished to transfer to their Self Managed Super Fund. Issue – capital gains tax on “disposal”.

We advised on Small Business Concessions and this resulted in NIL capital gains tax payable on the transfer. The premises were then held in the tax preferred superannuation environment.

There are also situations where there has been no Stamp Duty payable on the transfer.