Blackburn Accounting

In our last edition, we looked at Marketing that’s hitting the mark!

But what to do when your Marketing efforts aren’t paying dividends?

There can be several causes, including being focused on one lane (tunnel vision), your strategy lacking a clear purpose, or content clarity.

What to do?

It takes a series of steps, actions, and asking the right questions. Consider these 7 Tips!

Do you have a Strategy? Planned, structured with purpose, or are you simply flying by the seat of your pants, tactic-driven and responding as you go along? Yes? That is reactive behaviour, marketing lacking strategic investment or direction. Answer: Watch out for How to Develop a Marketing Strategy that Works.

Read more …

Tax
Business

BUdget If you are a small Business operator, as the dust settles, you may be wondering how this Budget affects you.

The Budget brought a mix of tax changes, regulatory reforms, and investment incentives. Depending on your Business circumstances, the announced measures can impact you differently.

Blackburn Accounting can help navigate the changes and provide professional advice. To stay up to date, we are monitoring the latest announcements as they come to hand. Don’t second-guess or put it off. Contact us today.

Instant Asset Write-off

The $20,000 Federal Government instant asset write-off will become a permanent tax scheme available to small Business owners.

This allows eligible small Business owners to claim immediate deductions for new or second-hand plant and equipment asset purchases, such as, tools, office equipment, and vehicles.

The assets must first be used or installed for use in the income year you are claiming for.

Tax Tips If you have been organised, Tax Time doesn’t create a paperwork nightmare. Files are orderly, and you have your ‘Business’ matters tidy and in order.

On the other hand, if you have been less diligent, you might find the shoe-box overflowing with receipts or the bottom drawer in disarray, a collection of bits and pieces. But don’t despair, start preparing now with these 7 Tips.

Getting ready – start by sorting and filing, whether you are lodging your own return or have an agent. DIY, need advice, contact Blackburn Accounting, we can help take the stress out of tax time.
Missing documents – don't wait to follow up if you need copies of receipts or expense records. Many deductions need supporting evidence to verify.

Cashflow

Have questions? Need help with managing your cashflow?

Blackburn Accounting offers an individualised service that helps you keep on top of your cashflow, assists in strategic planning and develops your Business capacity for growth and expansion. Contact our Team today.

To sum up, 8 effective Cashflow Management strategies are;

Business

Estate Planning, a topic and conversation often avoided or spoken about in hushed tones. Estate Planning is the process of developing a strategy to deal with your assets after your death.

It involves arranging during a person’s lifetime for the management, transfer and disposal of that person’s estate, both during their lifetime and after death. Covering your assets such as personal belongings, investments, and property.

The process entails creating legal documents like trusts, wills and powers of attorney to appoint guardians, minimise taxes, and ensure your wishes are followed.

Estate Planning is more than just having a will!

Estate Tax Planning is about wealth succession, a way to help protect and ensure the wealth you have built over a lifetime is distributed according to your wishes. There are benefits for all concerned.

If you are a Business operator, approach Estate Planning as part of your overall Succession Plan for your Business.