AZ Tax Advisors, Redcliffe Accountants

Local Workshop – Managing Cash Flow

aztax_admin — Tue, 08 Feb 2011 00:07:01 +0000

Better Business Workshop – run by the Moreton Bay Regional Council.

Westpac’s Managing Cash Flow workshop is on at Redcliffe Library, on 9 March 2011.

Find out core principles of Cash Flow and what this can mean for your business, to ensure a prosperous year ahead.

Wednesday, 9 March 2011

Redcliffe Library, 470 Oxley Ave, Redcliffe

$40 (includes refreshments). Book with www.moretonbay.qld.gov.au/business-events

Testimonial

aztax_admin — Fri, 04 Feb 2011 05:01:29 +0000

Hi All at A-Z,

Just a quick note of thanks for the new quarterly Newsletter.

I like the new format and the info is easy to read and has just the right amount of detail.

Cheers

Steve

Melbourne Cup Day

aztax_admin — Thu, 16 Dec 2010 01:06:57 +0000

It has been a Tradition for the last few years that the team at AZ Tax Advisors celebrate Melbourne Cup Day at the prestigious Golden Ox Restaurant. This year we had a great time watching the in-house fashion parade, drinking Champagne and eating canapes; as well as catching up with some of the local Business people and clients that attended the Luncheon. As the classy people that we are – dressing up in style was no problem and scored us a picture in the Redcliffe & Bayside Herald Newspaper. Congratulations, Americain!

Strategic Business Planning

aztax_admin — Wed, 29 Sep 2010 06:41:29 +0000

Strategic planning is key to successful business development. It is imperative to know what your future goals are, and what you realistically need to do to achieve these goals.

In order to improve performance, prepare for unexpected problems, grow the business and maximise profits, you need to carefully plan strategies based on extensive research and backed up by accurate data.

Successful strategic planning means you:

have a thorough understanding of the market, including your competition and important market trends, before formulating any strategy
base your goals on actual financial data and not just estimates
avoid goals that are too generalized and not specific enough to convert into actionable items
avoid goals that are too narrow and do not use a holistic approach to increasing overall profitability

Strategic business planning involves thinking out-of-the-box and coming up with fresh new ideas.

It’s a good idea to think about the so-called ‘PEST’ factors: Political, Economic, Social and Technical. In other words: the competition, the strengths and weaknesses of your business, customer feedback, and the efficiency of the cost management system currently deployed.

Strategies need to be broken down into small implemental steps – often called chunking. Deadlines and targets are assigned to each stage of the process; responsibilities assigned to appropriate individuals; and an effective method of tracking the results and measuring performance set up.

Recent News from the ATO

aztax_admin — Thu, 23 Sep 2010 08:45:01 +0000

Standard Business Reporting (SBR) to be implemented July 2010

From 1 July 2010, you will be able to lodge compliance forms directly to the ATO through your financial, accounting or payroll software if it is SBR-enabled.

Standard Business Reporting (SBR) is an initiative by the Australian Government to reduce the business-to-government reporting burden. The SBR was co-designed by government agencies and software [...read more]

Super Co-contribution Permanent

From 1 July 2010, the ATO will retain the permanent matching rate of 100% for all super co-contributions. The maximum super co-contribution that is payable on an individual’s eligible personal non-concessional super contributions is $1,000 [... read more]

Future Super Guarantee Rates

In the 2010–11 Federal Budget, the government announced:

the superannuation guarantee (SG) rate will gradually increase from 9% to 12% between 1 July 2013 and 1 July 2019
the SG age limit will be raised from 70 to 75 on 1 July 2013.

These changes are not yet made law. [...Read more here]

Developing Your Business

aztax_admin — Thu, 23 Sep 2010 06:11:43 +0000

Once successfully established, you’ll want your business to grow steadily and develop so that your venture remains profitable.

Expanding your business means detailed planning, analysis and innovation. Besides an overview of the current state of your business, you must have reasonable expectations for the future. You also need to continue to maintain and control the day-to-day operations.

Developing your business means you might:

reassess your goals and strategies
find new customers
aim to increase sales figures
aim to increase productivity, and
utilise emerging technology.

The following information will help you develop your business in the most efficient way.

The Business Plan

Chances are, you created a business plan during the early stages of setting up your business. The development stage of your business is a great time to reassess your objectives, and identify areas of improvement or opportunity.

Business Plans not only help in the assessment of financial situations, they also help give focus and direction to all business activities. It’s a good idea to regularly draft and implement well-researched plans at various stages of the business cycle. Remember: your business plan should continually be revised to reflect your current financial situation and include realistic expectations for the future.

Before starting, it’s important to have all the information required to devise a business plan. This could include financial reports, past sales and marketing performance reports, market research and customer feedback surveys. It’s also a good idea to perform a ‘SWOT’ analysis of the business (Strengths, Weaknesses, Opportunities and Threats) in relation to the company and the industry sector.

Reviewing the marketplace, segmenting target customers and understanding their specific needs, and analysing the competition, are all important steps involved in drafting a good business plan.

Creating a successful business plan requires a lot of information, in-depth analysis and careful planning. During this important phase of your business, it might be worthwhile to enlist the help of a financial expert, such as an experienced accountant.

Buying or Selling a Business?

aztax_admin — Thu, 23 Sep 2010 05:52:07 +0000

Many business owners looking to sell their business are unsure of the steps they should take, and at the same time, there are buyers looking for a business who don’t know where to start. AZ Group’s business advisors can help point you in the right direction, in order to find the buyer or seller compatible with you.

The decision to buy or sell can be a stressful process, involving personal emotions, the right timing, and the state of the economy. Having someone experienced in business to discuss the initial decision, investigations, and whether it makes good financial sense, is crucial. Arming yourself with the right information will increase the chance of a good outcome when buying or selling a business.

We can help make that difficult buying or selling decision a strategic and fruitful one.