How To Make Your Business More Efficient

How To Make Your Business More Efficient

Business, Taxation
How often have you been late sending in your Business or Instalment Activity Statement to the ATO? It is the last thing you want to think about when running a business, doing the hard yards on the farm or when on a holiday and having a few drinks. Once you have processed all transactions in your cashbook and filled out your paper BAS, you then need to package it up and go to the nearest post box to send it off to the ATO – but what if the BAS is lost or even in a few instances I have seen, the ATO take the payment but doesn’t process the BAS? These are annoying circumstances; however they can be avoided. There is an ATO online system called the Business Portal…
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Primary Producers Planning Options & Changes To Depreciation For Small Business

Primary Producers Planning Options & Changes To Depreciation For Small Business

Business
Small Business Accelerated Depreciation As the end of the financial year approaches we shift our focus to strategies that can effectively help minimise taxation. Over the past two years one of the most popular and effective measures of minimising your tax bill has been using the Small Business Accelerated Depreciation measures that were introduced in May 2015, sadly these measures come to an end 30 June 2017 so time is of the essence. These measures currently allow small businesses (annual turnover up to $2 million) to claim an immediate write off for assets costing less than $20,000 acquired after 7:30pm on 12 May 2015 to 30 June 2017. From 1 July 2017, this $20,000 threshold reverts to the historical $1,000 threshold. What action is required before 30 June 2017? To…
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Investment In Agriculture Forum

Investment In Agriculture Forum

Business, Investments
Myf and Al attended the 2017 Investment in Agriculture Forum held in Toowoomba on the 21st of February. This forum was a great follow up from their China trip in late 2016 and another good opportunity to hear what sort of opportunities are presenting themselves from an international and domestic “silent” investor position. As previously seen in other developed countries, in particular the US, investors are continually looking to increase their exposure to agriculture and real benefits exist for farmers and graziers to consider arm’s length investors to assist them to go from a family enterprise to a more corporate operation. This process will not appeal to everyone. However, over the last decade or so the discussion around the future of the family farm has attracted considerable attention. The big…
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2017, What Will You Achieve?

2017, What Will You Achieve?

Business, Insurance, Investments, Superannuation, Taxation
If you are wanting your 2017 to have a better outcome than your 2016 and you haven’t started your New Year differently don’t expect to end it differently (although it is not too late to make changes). We are already well over half way through January 2017. What have you done in a different way to what you did in 2016? The new year not only brings a new number to remember when writing the date but it also brings with it opportunities to start afresh, to make a change, set a new goal (make it a little challenging), take a chance or simply improve on what may have been a great 2016. So here at Accession3 we are not going to promise to help you lose weight, have well…
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AUD Falls But Where Next?

AUD Falls But Where Next?

Business, Investments
Financial market has continued to respond to the implications of incoming economic policy, re-emergence of trade barriers on global supply chain (including Australia) pivot prior to the US presidential election. Amid US investors/traders optimism about rising interest rates resulting from the Trump administrations economic policies and ongoing strength in the US economy, our local currency has dropped to its lowest level over the past six months. Following the Federal Open Market Committee (FOMC) monetary policy announcement we have seen the AUD fall to 72.52 US cents on Tuesday (per Bloomberg Markets). Westpac chief market strategist Imre Speizer has noted that “Momentum remains negative, thanks to the post-Federal Open Market Committee surge in the US dollar last week, with the next major multi-day target around the 72 US cent area.”. Since…
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A Trump Win Provides A Timely Investment Lesson

A Trump Win Provides A Timely Investment Lesson

Business, Events, Investments, Shares
After an interesting past 24 hours, today we are reminded of one of the key rules to investing: knee-jerk reactions are never the best. As a Trump victory became increasingly apparent Asian markets collapsed with many traders rushing for the exits with fears of financial Armageddon. Then we wake up this morning hearing the news that rather than the US market dropping 5% as futures markets predicted, it instead, rose. A Brexit like response. Our philosophy is investing in businesses and not in trading sentiment, that is a fools game. The simple reality, if we’d followed the herd yesterday we would have lost money. So another reminder: Never follow the herd. But what a Trump presidency does is throw up potential new investment themes that perhaps we can take advantage…
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Recent Changes Assisting Farmers

Recent Changes Assisting Farmers

Business
Recently there have been a few changes by the Queensland Government aimed at helping farmers. To summarise just a few: QRAA increase the size of loans available to producers to improve productivity and sustainability. The maximum loan amount has risen from $650,000 to $1.3 million for a Sustainability loan and from $650,000 up to $2 million for a First Start loan.  The Government claims the increases reflect the higher capital requirements in the industry. To date, 54% of approved applications went to the beef cattle industry and 18% to sugar producers but it is available to all farmers. The loans can be for a period of 20 years and come with a fixed interest rate ranging from 3.25% for 1 year to 3.22% for 5 years. Other conditions still apply.…
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The ‘Tsunami’ Is Coming, Let’s Get Ready

The ‘Tsunami’ Is Coming, Let’s Get Ready

Business
A person’s business is often their largest asset, and so it should be as you need to be rewarded for all your hard work, personal sacrifice and risk. However, selling your business is a very complex process and getting what you want for your business is incredibly difficult. To put this into perspective, there are over 2.5 million businesses in Australia and over 80% of these businesses are privately owned and collectively they are worth trillions of dollars. Some of the data in relation to these privately owned businesses is very concerning: The Average age of the business owner is 58. 25% are over the age of 65. 64% would consider selling their business if approached. 55% of business exits are due to forced exits such as financial distress, death,…
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May 2016 Interest Rate Decision

May 2016 Interest Rate Decision

Business, Investments
Earlier this week, the quarterly CPI figure was released and it was ground breaking. For the first time since the RBA has made its focus keeping inflation between 2 & 3%, the quarterly figure turned negative. That means, deflation could be upon us but that’s not the point of this discussion. Rather, our focus is on the RBA’s next move. Now the first question is “why is inflation so low?” Some simple answers include: • Low wage growth • Supermarkets cutting prices to keep market share • Lower commodity prices – heck I saw diesel priced at $0.99/l only 3 weeks ago (it’s risen since then sadly) While the $A has in the last 2 months seen a gradual rise back to $0.76US, that’s still not close to those heady…
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3 Things I Learned About Disruptive Innovation As An UberX Driver

3 Things I Learned About Disruptive Innovation As An UberX Driver

Business
In a world buzzing about disruptive innovation and traditional work being turned upside down, what can any one individual do to successfully forge their own way despite all this unpredictability? Ted Graham shares how one fundamental choice can change your path. Ted Graham is the Innovation leader at PwC where he helps to turn ideas into invoices. He is also founder of the South Core Innovation Hub, a collaborative group of innovation leaders from Toronto's unique waterfront area. Ted often speaks to audiences about the 5 things he learned about disruptive innovation as an UberX driver and how we can apply some of these lessons across a multitude of industries on the cusp of disruption. His firsthand account was initially released as a widely read LinkedIn influencer post, and is…
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