Negotiating an earn-out fee when selling your business

If you are currently selling your business and negotiating an earn-out fee as part of the sale, this could increase the amount the buyer pays for your business. When you sell your business, an earn-out fee is where a portion of the money you receive for the sale is based on the business’ performance after … Continue reading “Negotiating an earn-out fee when selling your business”

Stronger farmers, stronger economy

The Government has fulfilled an election promise by the release, albeit more than 6 months late, of the Agricultural Competitiveness white paper on 4 July 2015 agwhitepaper.agriculture.gov.au. With a theme of “Stronger Farmers, Stronger Economy”, the Agricultural Competitiveness white paper contains $4 billion of spending measures intended to make the agriculture sector more competitive, profitable … Continue reading “Stronger farmers, stronger economy”

Business budgeting series – Part 1: The review

As you prepare for the new financial year, it’s important that you step back and reflect on what has occurred – good and bad, and start your planning for the year ahead. Most businesses tend to complete this in two stages; the review stage, and the implementation. What should you include in your business review? … Continue reading “Business budgeting series – Part 1: The review”

Find your way through the connections, communications and complexities to achieve harmony and success

Family businesses in Australia make up around 70% of all businesses*. They range in sizes from SMEs to large businesses and are across a wide range of industries from retail to farming. Being part of a family business can be both rewarding and challenging. Challenging because of the ways in which business ownership, management and … Continue reading “Find your way through the connections, communications and complexities to achieve harmony and success”

Asset write-offs and special concessions for farmers

On the 15th of June 2015, the legislation providing small businesses with the ability to write-off the cost of capital assets to the value of $20,000 and farmers accelerated depreciation on certain farm assets passed both Houses of Parliament. It is great to see this significant legislation pass through both Houses in such a timely … Continue reading “Asset write-offs and special concessions for farmers”

Focus on Financial Reporting

Preparers of financial statements continue to face a steady stream of developments in financial reporting. This month, we explore a few of the more important considerations for the 2015 financial reporting season including quality of financial information, regulatory requirements, and current vs non-current liabilities. Quality of financial information Financial reports are often criticised for their … Continue reading “Focus on Financial Reporting”

More robust accounting presence no accident

Spiro Paule, CEO of Crowe Horwath parent company Findex Group has revealed that the acquisition of Crowe Horwath was a deliberate strategy to increase the Group’s presence in the accounting space. “Accountants, by and large, are still the owner of that client relationship in terms of who they turn to for information,” he said, adding … Continue reading “More robust accounting presence no accident”

2015 Intergenerational Report and Family Business

The Australian Government issued their fourth Intergenerational Report on 5th March 2015. Each report provides projections adopting a ‘point-in-time’ format – that is, using the assumption that current government policies will continue unchanged over the next 40 years. No time to read the full report? We’ve summarised the key findings, and what they mean for … Continue reading “2015 Intergenerational Report and Family Business”

Tick-tock, tick-tock…

The end of the financial year is coming! In a little over two months the curtain will fall on another financial year. Whilst I understand that you may not get as excited about this event as my fellow business and financial advisors, it is an important time in the tax and accounting world. June 30 … Continue reading “Tick-tock, tick-tock…”

‘Re:think’: What does Tax reform mean to you?

On the 30th of March 2015, the Treasurer released a Discussion Paper on tax reform, “Re:think: Better tax, better Australia” (“Discussion Paper”). To help you understand what this Discussion Paper means, we’ve provided an overview of the Discussion Paper, the reform process and some of the major issues that are likely to impact upon Crowe … Continue reading “‘Re:think’: What does Tax reform mean to you?”