Consumer sentiment remains in the doldrums, yet the latest feedback from the mid-market business community is that they remain broadly optimistic for the future. Newly updated ANZ-Roy Morgan consumer sentiment data shows 53% of respondents say their family is worse off now than they were 12 months ago, while just 8% are anticipating ‘good times’ […]
Key points Define your retirement lifestyle early to guide financial planning effectively. Retirement isn’t just about money—purpose and fulfilment matter. Gradual work reduction can support income and personal wellbeing Even if you have built a valuable business, a sizeable superannuation balance, or other assets, transitioning to retirement is a big step. We are living longer, […]
Key points You can access super via a Transition to Retirement Income Stream (TRIS) without retiring. TRIS allows part-time work while drawing income from super. Tax benefits vary based on age and preservation status. Reducing your hours at work may be appealing but how do you maintain your income to make the most of more […]
Key points ATO cautions businesses with large tax debts or unpaid super obligations. Non-compliance may lead to credit reporting agency disclosures. Prompt settlement is urged to avoid reputational and financial damage. The Australian Taxation Office (ATO) has issued a caution to businesses carrying substantial tax debt or those that have neglected their superannuation responsibilities, instructing […]
Key points Monthly or quarterly budgeting helps manage inflation and reduce costs. Inflation squeezes cash flow and raises loan repayments, hurting profitability. Budgeting supports both cost control and revenue growth for business resilience. Businesses are battling rising costs and inflation. With inflation reaching a high of more than 8% last year and taking time to […]
Key points Over $3.5 trillion in assets will be transferred across generations in Australia between now and 2050. Inheritances make up 90% of wealth transfers, with values expected to quadruple to $500 billion annually. Strategic estate planning ensures wealth is passed on effectively, aligning with personal values and family needs. Australia is on the cusp […]
Some hospitality businesses are already using Artificial Intelligence or AI. Not all are using it effectively or to its full potential. AI has exploded into our lives and is here to stay, thanks to services such as ChatGPT. All businesses, including hospitality, will be embracing AI to stay ahead of their competitors and retain and grow customers or members.
With generative AI tools taking the world by storm businesses are set to reap many efficiency benefits. It is unlikely to completely replace roles, but streamline processes with quality control of outputs. Data security and trust are the biggest challenges and a comprehensive management plan is key
Key points A Self-Managed Super Fund (SMSF) offers Australians greater control and flexibility over their retirement investments, including property and shares. SMSFs are best suited for individuals who are financially engaged, goal-oriented, and willing to take on trustee responsibilities. While SMSFs can be cost-effective and empowering, they require dedication and a clear understanding of long-term […]
Key points Choosing between an individual or corporate trustee is a foundational decision when setting up a self-managed superannuation fund (SMSF). Corporate trustees offer streamlined administration and continuity, especially in succession planning and compliance. Individual trustees may be simpler and cheaper to establish but can pose challenges in managing changes to membership or legal obligations. […]
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