RSM Australia

Business Advisory Services

Address business challenges and uncover opportunities through business advisory services

While we provide peace of mind through taking care of the usual accounting and tax compliance matters, our real value lies in helping you address business challenges and uncover opportunities.

We do this by developing a deep understanding of your needs, challenges and ambitions − taking a proactive approach in working with you across all facets of the business. By offering fresh insights and perspectives, combined with practical and pragmatic business advice, we can help you make critical decisions with confidence. 

 

Whether it’s working with you to protect your assets, fund your business growth, or develop an exit business strategy to maximise your return for a comfortable retirement, our advisory services devise practical solutions to help you achieve your goals.

Here are some of the business advisory services we offer:

Business planning

Depending on the lifecycle of your business, the first step may be to conduct a business “health check” to clarify your options and choices. From there, our team work with you to map out a plan to help you achieve your desired outcomes. We can plan for all business phases, from start up to growth and maturity.

Business strategy & development

RSM will help you create a tailored business strategy to suit your unique goals, including minimising waste, structuring your purchasing, analysing data and maximising potential opportunities.

Cloud accounting

Our experts can assist your transition to an efficient and effective cloud-based accounting system.

Financial management

By taking a deep dive into your data and processing your financial information, our experts can provide detailed insight into the implications of your key business decisions. Using their expertise, they turn this information into actions that can reduce risks, improve processes and ultimately drive profit.

Disability services and NDIS

We offer business advice to disability service providers, supporting the transition to NDIS. This involves business strategising, planning, risk management, marketing, HR and IT.

Family wealth and private client

Our advisory services include family wealth management − assisting with tax, money transfer, risk management and reporting, as well as safeguarding and growing wealth.

Profit and growth improvement

Profit is key to business success. We will work collaboratively with you to develop a bespoke strategy to achieve the right amount of growth, and offer business advisory solutions to overcome any challenges.

Structuring advice

Our team provide specialist advisory services that focus on implementing the right business structure. Not only will this streamline processes, it will ensure adequate cash flow, maximise your return and assist you with your regulatory obligations.

Succession and estate planning

RSM Australia can help you plan for the future handover of your business. We will work collaboratively to devise a well-structured succession plan, as well as offering advisory solutions regarding admin and taxation costs.

Single Touch Payroll

STP applies to all employers. Our team are on hand to help you successfully adhere to and manage this legislative requirement.

Growth and profit solutions diagnostic

Our team will clarify which areas to focus your energy on to ensure successful business growth and profit.

For more information on our business advisory services, follow the links below.

What are the basics of business?

How many of you remember life before smart phones…or even before the simple mobile phone?  How ever did we manage to survive or even get in touch with someone urgently?

Concessions for primary producers impacted by drought

Australian farmers have been struggling with drought conditions resulting in crop failures and lack of feed and water for livestock.

A guide to changing a business structure

Nothing is permanent except change. 

Funding your property development

For many developers, the question that inevitably arises is how the property development should be (or could be) funded.

What happens to property you may own in the event of your death?

You know the saying, there are two certainties in life: death and taxes and I'm going to be covering both of those. This article highlights what happens to property you may own or control on your death. 

Farmers and Communities to Receive Further Drought Relief Funding

Drought-affected communities and farmers will get an immediate cash injection, with the Federal Government promising a new $100 million drought relief package.

Superannuation Legislation for High Income Earners

The Government has passed superannuation legislation for high income earners (with income exceeding $263,157 per annum) which allows employees with more than one job to choose not to have the 9.5% superannuation guarantee paid by all their employers.

Are you Single Touch Payroll ready?

The deadline is fast approaching for small businesses to be registered and lodging their payroll information to the ATO using the Single Touch Payroll (STP) reporting system. Are you registered and lodging? If not, you have a small window to register and start lodging!

The ‘P’ in Pharmacy – It’s about Professionalism, not Price

The ‘P’ in Pharmacy – It’s about Professionalism, not Price

Sign up for an Asset Protection event near you

Imagine losing all of your assets in one fell swoop – house, cars, savings… the lot. Insurance can never protect against every scenario, but asset protection can try. 

Six technology investments every SME must make

With technology continuing to improve through the impending advent of 5G and as mundane business processes become automated, the opportunities for SMEs could be limitless. In this edition of thinkBIG, we highlight and explore six of these technology investments every small business must consider. 

thinkBIG 2019

The pulse of the SME sector. thinkBIG is a series of reports for small business owners, highlighting and exploring areas of interest for growing businesses.

Case Study: Yarno

New training drill bodes well for staff

Case Study: Invoice2go

Automation where it counts – creating and tracking invoices, on the go

Farm Management Deposits – Are they still an effective tax planning tool?

The farm management deposits (FMD) scheme is designed to allow primary producers to manage their tax, enabling them to shift income from good to bad years. However, the FMD scheme has a number of limitations which mean that the scheme may not be a suitable tax planning strategy for all taxpayers.

How Is Your Budget Going?

“Why bother to budget, it never goes to plan…”

Case Study: Parklea Sand & Soil

Soil business has a smart row to hoe  From humble beginnings in the 1960s as a sideline business, selling manure and topsoil from a poultry farm, Parklea Sand & Soil has grown to one of the biggest specialist building and civil engineering materials suppliers and haulers in NSW. 

Asset protection vs tax optimisation

In business, there are many risks that are simply out of your control. This thinkBIG report takes a closer look at one of the great conundrums for owners of small businesses - the balance between asset protection and tax optimisation.

Long term succession and estate planning

Bill Beard covers the Do's and Don'ts of long term succession & estate planning. Below are some insights at a glance: Treating your children fairly does not necessarily mean equally Honest communication is crucial

Three tips to being a growth-ready farm

With the steady consolidation of farms across Australia and the increasing pressure on efficiency, being growth-ready means formulating a strategy to suit your growth plans. Here are three tips to ensure you have a growth-ready farm.

Protecting your superannuation package

The Government's 'Protecting Your Super' package - announced in the 2018-19 Budget - is a comprehensive package of regulatory reforms designed to protect Australians' superannuation savings from undue erosion by fees and insurance premiums.

How to strengthen and simplify your allied health practice

The allied health sector is notable for its variety and complexity but there are rich opportunities too.

Instant asset write-off increased to $30,000 – more businesses to benefit

There is some good news for business on the instant asset write-off front. Both the size of business and the amount you can write off instantly as a tax deduction has been increased. While these measures are welcome, it has added a little complexity for the year.

Big change for small business - Get ready for STP

There are further compliance changes in the wind for businesses.  The Government is in the process of implementing a new reporting system which is focussed on streamlining payroll procedures.  This will impact on employer and employee alike.

Ways to use 'the cloud' in your business

Clouds are generally a good thing for farming.  Whether that be the first hopeful signs of rain after long periods of drought or the relief at getting rain at just the right time, clouds are generally welcomed by the farming community. 

Single touch payroll - soon mandatory for every employer

The ATO has followed through on plans to improve digitisation of tax reporting and returns, making it mandatory for all employers to use Single Touch Payroll from 1 July 2019.

Surviving the hospitality cash flow conundrum

When the music stops, will your business cope?

On-farm emergency water infrastructure rebate scheme for NSW

In October 2018, Prime Minister Scott Morrison announced $50m to fund an on-farm emergency water infrastructure rebate scheme to provide financial help to primary producers in drought-affected regions.

What to do about the summer holiday cash flow bell curve

Any local business operator in the hospitality industry will be able to relate to the summer holiday period rush. When reviewing the month to month annual profit and loss results, they can usually be displayed graphically as a significant bell-type curve.

Farm Management Deposit offset

Coverage of the drought that has impacted much of the farming community in central and eastern Australia throughout 2018 and earlier years has been unprecedented.  National and international media have shared stories of farmers doing it tough, fighting to keep their livestock going when feed and water are scarce and for nearly all, massive fin

Are you across the New Payments Platform?

The wait is over, after 4 years in the making and months of delays the New Payments Platform is finally here! What is it and what does this mean for your business? Key benefits:  Real-time movement of money Simpler, smarter addressing (PayID)

How to Maintain the Family Farm

In most cases the older generation will make the decisions on how their assets will be divided and who will take over the management responsibility of the farm.

Medical and Healthcare Providers Targeted over Payroll Obligations

Medical and healthcare providers are currently in the spotlight of the State Revenue Offices (SRO) around Australia regarding their payroll tax obligations.

The importance of making a profit

Entering into a franchise agreement may be the best business decision you ever make.

Memory loss and its impact on the family farm

As life expectancy has increased, so has the number of people suffering from memory loss from conditions such as dementia and Alzheimers. So, have you ever wondered what would happen to your farm if you came down with a mental illness resulting in memory loss and judgement? What if your spouse loses his/her mental capacity?

Case study: Dial Before You Dig

"What I like about RSM is that they are a really easy company to deal with and they’ve taken the time to understand our business and their breadth of expertise across the country and they’ve really made our life a lot easier".   Ben Howell, Chief Executive Officer

Case study: Rilow Property Group

In less than 10 years, founder of RILOW Property Group Richard Whitehead has done what some property developers can only dream of achieving in a lifetime.

Super members and trustees - are you ready for 30 June 2018?

With the new financial year almost upon us, are you ready for it?  Self-managed superannuation fund (SMSF) trustees have some critical reporting dates coming up. The first of these occurs on 30 June 2018 and thereafter quarterly reporting kicks in. 

Case study: Gravity Consulting

The age-old adage of a picture being worth a thousand words rings true to the revolutionary work that Canberra’s Gravity Consulting has pioneered and is fast becoming renowned for around the world.

Case study: SeneGence International

"It's absolutely critical and key for us to be partnered with somebody that can understand all the intricacies of setting up the financials and business structure and so forth in all territories, and to have one partner that can reach all those territories and give us a blueprint for each of those

Your generosity could provide even more benefits

We all work diligently to provide for our dependents and eventual beneficiaries. Protecting their future wealth is an excellent legacy for our survivors. So how do we provide this extra benefit?  One idea when making a Will is to establish a testamentary trust or trusts that commence upon the death of the Will maker. 

Single Touch Payroll reporting is coming - employers take note!

Employers with 20 or more employees will need to change the way they report to the ATO from 1 July 2018.  Single Touch Payroll (“STP”) is a new reporting system the ATO has introduced. STP involves the reporting of payroll payments, PAYG and superannuation directly to the ATO for every pay run that is made.

Is your Will about to explode?

Far too many Wills exist which, when "detonated", will create huge problems for farming families. This article aims to reduce these potential disasters. 

Turn on the lights for children this Christmas

RSM has recently utilised the services of Make it Cheaper to generate savings on our energy bills in various offices on the east coast of Australia.

One size does not fit all

In my previous article, I discussed transferring the family farm to a child without paying stamp duty. The next important step is to seek professional advice as to the capital gains tax implications if the farm was transferred.

There are opportunities no matter what this harvest may deliver

Bad years on the farm are hard to take, but there are often enormous opportunities for positive outcomes in the area of tax planning and succession planning that can be of huge benefit to the farm’s future.

Victorian farm stamp duty savings

A significant part of any farm succession plan is planning for retirement. Given ever-increasing farm, living and education cost, most farming enterprises will only support one child and their family of the succeeding generation.

Making disability services viable within an ‘NDIS world’

Knowing ‘thy core mission’ is the key to surviving the transition to a NDIS environment.

Unlocking vital business information

In a tough economic environment, small businesses may be forced to cut costs in order to remain viable.  A significant cost for many small businesses is labour, so this is an area commonly targeted. 

Estate planning and the impact of loan accounts

The impact of loan accounts in business structures on your Estate planning can be far-reaching.

Get the right advice or pay the price | Family farms

Family farms are part of the fabric of rural Australia. Unfortunately the landscape is dotted by a large number of farms that disappeared from families who either had no succession plan or the estate plan was seriously inadequate.

Failure to seek commercial and strategic advice crippling SMEs

Many Australian business owners are frustrated at not reaching their growth targets because they haven’t identified the need to transition from an accountant providing basic tax compliance advice to a business advisor who can help implement the right growth and profit targets via strategic advice.

Great profits? It's not just about great sales

It’s very common for a business owner to focus on their turnover or the sales they generate.

Superannuation - there can be traps for the unwary

In the lead up to 30 June no doubt cash flows and taxation projections were a focus for many SME owners.  One of your plans could have been to contribute a sum of cash into superannuation and claim a tax deduction. 

Farm Succession Planning and the four A’s

Farm succession planning has been described as developing a strategy to work out whether someone will take over the farm or whether it will be sold when the owner retires or dies.

Farm Management Deposits - do you have a plan for the end?

Farm Management Deposits (FMDs) are an integral part of year end planning for Primary Producers.

Case study: Orgadata

“Australian tax laws are very different to any other tax laws, so for us it was a completely new journey. RSM helped us understand these rules and the best way to work within them”.  - Joost Bouten, National Manager Australia.

Case study: Darlington Dental

“Despite RSM being a large company it’s great to get an individual guide me through financial navigation yet still have a huge team behind them with the best information and resources possible,” Karl Bailey, Owner of Darlington Dental practice.

Follow the winding road | Farming succession planning

Farming is a journey with the inevitable ups and downs, smooth roads, pot holes, straight stretches and the odd blind corner. The process of succession planning, on the other hand can lead to a destination, be it good, bad or ugly.

Case study: MPowerU

“We wanted to engage with someone who has dealt with the bigger businesses but still has the small business mindset and approach towards their client”. - Giulio Montini, Owner of  MPowerU Electrical

5 superannuation tips to check before June 30

With 30 June fast approaching now is the time for you to take action on the superannuation reforms and other general end of financial year issues with these five superannuation tips.   Are you ready?

Seven tax planning tips to help your small business with a 2017 tax plan

With the end of yet another financial year fast approaching, now is the final chance for small businesses to get their 2017 tax planning in order.

Case study: Peel Scape Solutions

“It’s good to get answers from guys who have seen and helped other businesses grow - their advice is invaluable”  - Paul Holdom, Owner/ Director of Peel Scape Solutions

Sell your business tax free - is this too good to be true?

In many situations this is entirely possible. When small business owners dispose of active business assets, they may be entitled to disregard some or all of the capital gain by utilising the available Capital Gains Tax (CGT) concessions.

Death is a taxing matter

There are two certainties in life - death and taxes – simple!  However to complicate matters the two interact producing complexities as well as planning opportunities.

Case study: Fender Katsalidis Architects

“When meeting with RSM there was that instant moment and connection that the relationship will work as they were genuinely interested in our business model and also what we do and why we do it" Mark Murphy, Director of Practice, Fender Katsalidis Architects 

Case study: Whizz Technologies

“Although it’s one of the largest accounting firms in Australia, they treat us as though it’s a start-up themselves with very, very personalised service” Mark Bernberg, Founder and Director, Whizz Technologies

Caveat Emptor - Let the buyer beware

Let the buyer beware - a simple and obvious statement but one which is particularly relevant to business people.  This period running up to the end of the financial year is a popular period for vendors to dispose of their business. If you are considering purchasing a business, it is worthwhile considering a few issues.

Why customer service is vital in a sea of automation | Part 3

Do you want your business to stand out from the rest? Offer a quality user experience! Great customer service isn't just about resolving an issue. If you really want to differentiate yourself and impress your customers, you need to consider their experience from beginning to end. This is where user experience comes in. 

Three ways to boost your super from July 2017

Could the rule changes that recently took place to Super actually present you with some great opportunities to build your retirement wealth from July 2017?

Why customer service is vital in a sea of automation | Part 2

5 Simple ways to improve your customer service Have you ever been so frustrated by a company’s customer service? On the other hand, how incredible is it when a company has excellent customer service?

Why customer service is vital in a sea of automation | Part 1

How to increase profits through better customer service. "Customer service is not just a warm and fuzzy addition to your business practices, it's directly linked to your profitability and sales. This is why it needs to be a priority and a focus for any business that wants to grow or even survive in a highly competitive future"

Superannuation Changes - Your questions and our answers | Part 1

Below we explore some of the most common questions our team has been asked about the upcoming changes. Part one hones in on concerns around the Transfer Balance Caps.Part Two examines other key areas.

Set your child care centre up for success by managing cash flow

One of the most common questions that an accountant is asked from the child care sector  is, 'So I made $150,000 last year; why don't I have another $150,000 in my bank account?' The answer is negative cash flow... 

Backpackers Tax explained - employers take note!

A collective sigh of relief could be heard across the country on 5 December 2016 when the Federal Government finally passed the Working Holiday Maker Reform Bill 2016. 

Small Business Income Tax Concessions - Am I small enough?

It is a well-known fact that small to medium businesses drive the majority of the Australian economy. The ATO has made certain income tax concessions available for small entities in particular, since at least 2002 with the introduction of the Simplified Tax System which then transitioned into the now known Small Business Concessions. 

Business Partnership: easy to get in, sometimes painful to get out

As the saying goes “ If you fail to plan, then you plan to fail! ” Not enough planning goes into starting a business partnership prior to its commencement.  

Liquidity a problem? Give your business a health check !!

Companies relying on historically low interest rates to mask their true capacity to pay bills when they fall due, need to seriously address debt serviceability once the official cash rate starts moving higher which some will say will occur in 2017.

Just what is a sustainable cash flow?

Many SME owners struggle to differentiate between profit and cash flow.  If asked to produce a cash flow forecast, most will revert to producing a profit forecast.  But profit and cash flow are definitely not the same. 

Non-resident? Understand the new NSW property taxes that could affect you

If you are a ‘foreign person’, you may now find yourself subject to two additional surcharges recently introduced in NSW regarding residential land and real estate purchased and owned. The two new surcharges include:

Will you enjoy the summer holidays as much as your team?

It’s a typical scenario for many business owners.

The fine art of determining a customer's true worth

How does a CLV determine a customer's true worth?

RevenueSA Job Accelerator Grant Scheme

The South Australian Office of State Revenue (RevenueSA) has established a Job Accelerator Grant Scheme to encourage South Australian businesses to employ additional full-time, part-time and casual employees. 

Are low interest rates reducing business risk?

The current low-interest climate In 2016, the Reserve Bank has again lowered the cash rate, taking a 0.25% cut to bring the rate down to the current 1.5%.  It really is staggering – an official cash rate of just 1.5%.  Recently one bank has come out and boldly predicted the rate will fall to 1.0%.

How much tax will you pay on your profits?

It’s estimated a million small and medium-sized businesses were given some tax relief last financial year and from July 1 this year are benefiting from an additional tax cut. Are you one of them and taking advantage of it? How the tax cuts works

Understand and navigate the new ASX changes

A consultation paper was issued on 12 May 2016 by the ASX providing details of the changes in admission requirements for those entities applying to be listed.

9 ways to reduce business costs

Every business owner is aware of the importance of keeping costs low while continuing to offer customers the best service possible. Equally, that no matter how profitable your business is there is always a bit of fat that could be trimmed away to reveal a faster, leaner, more effective operating model.

SMEs eye the ABCs of SMSFs in retirement

Much of the whopping 25 percent jump in the uptake of bank debt recorded within our thinkBIG survey 2016, may be attributed to an increasing number of SME’s buying their own premises.

Case study: Oz Trees

Mark Prascevic, owner of Oz Trees in Colac, Victoria, has experienced the highs and lows of owning and operating a native plant business.

Case study: Nature's Food World

“The service from RSM was beyond unbelievable and the team adds significant value to the business. Knowing RSM has Nature’s Food World’s best interests at the forefront of the advice they give is a key benefit.” - Karla Gartshore, Founder

Case study: Elliotts Group

Founded in 1961, Elliotts Landscape Supplies grew out of the timber industry in Tumut, New South Wales. The company grew strongly and was soon known to provide quality landscape and building supplies throughout Australia.

Four ways to grow your business

As a business owner, most would agree that the dream for your business is to one day see your hard work turn your small business into a leader in your industry. Expanding your business means taking on more staff, in the hope you can spend more time with your family.
Local firm merges with our RSM Wagga Wagga office

RSM Wagga Wagga Merges with Local Firm

It’s a time of growth for the local Wagga Wagga office of RSM Australia, who is merging with JP Pallister & Associates as of 1 July 2016.

Are you market intelligent?

The foundation of any successful business strategy is market intelligence. Being informed means you can make competent decisions about your business’s direction and have the foresight to predict and be prepared for the challenges ahead.

Are you SuperStream compliant?

The SuperStream standard is part of the government’s Super Reform package.  It will provide a consistent, reliable electronic method of transacting linked data and payments for superannuation.

Succession planning report

Understanding the current perceptions of business owners towards succession planning.

Budget 2016 for SMEs

Key announcements Increase in small business entity turnover threshold from $2 million to $10 million; Increase the unincorporated small business tax discount; Amendment to Division 7A to allow self-correction for inadvertent breaches.

Industry insight - Vitamin and supplement manufacturing

A snapshot of the key statistics and current industry performance in the vitamin and supplement manufacturing sector.

Industry insight - Milk powder manufacturing

A snapshot of the key statistics and current industry performance in the milk powder manufacturing sector.

Minimising the risks of franchisee non-compliance

Franchises are currently under the spotlight following breaches by high-profile brands. As a result, franchisors should take steps to ensure their franchisees are complying with all legal and contractual requirements.

Work-related car expenses - a timely reminder

If you use the log book method to claim a car expense deduction you are required to keep a record of for a minimum continuous period of 12 weeks. There’s less than 16 weeks remaining in this financial year so it’s best if you start recording your trips now.

Tips to improve your cash flow

The start of the new year provides small businesses with the perfect opportunity to improve their credit management and cash flow conversion cycle. Here are some tips for improving your credit management and cash flow in 2016:

Five areas corporate Australia should be aware of in 2016

The introduction of new tax measures, increasing insolvencies, and the growing incidence of digital disruption in the corporate sector in Australia means there are a number of key areas that CEOs, executives, directors, and boards should be aware of in 2016, according to RSM Australia.

GPs lose out in Medicare changes

Proposed government changes to Medicare rebates could mean GPs lose out significantly, facing additional working hours and lower profits.  In simple terms the proposed government regulations mean that there will be two key changes to the way GPs bill their patients.

The NSW small business grant

The NSW Government has introduced a new grant providing incentives for NSW businesses to employ new workers and expand their enterprises.

10 things business owners should focus on in 2016

The Reserve Bank of Australia (RBA) forecast suggests the domestic economy will remain stable into 2016 and low interest rates are set to continue. [1]  This is likely to create some growth in consumption, which is good news for small to medium-sized enterprises (SMEs).

Business insights from RSM

The 2015 year is fast fading and the reality of the challenges and the excitement at the opportunities of 2016 are in front of us all.

NSW payroll tax rebate scheme extended - 23 November deadline

The payroll tax rebate scheme has been extended to 30 June 2019. Payroll tax rebates can be up to $5,000 per employee in situations in which a business’s full time employee numbers have grown and in which new employees are retained for a two year period.

RSM launches Ready4 with National Disability Services and the ACT Council of Social Services

RSM has launched Ready4 alongside  National Disability Services (NDS) and the ACT Council of Social Services (ACTCOSS), creating a central point of contact for organisations transitioning over to the National Disability Insurance Scheme (NDIS) in the ACT. The Ready4 program was commissioned by the ACT Government.

Financial assistance for aged care available

Farmers with a family member entering aged care may find the costs of entering a facility very high - often a six-figure sum.

Stamp duty exemption for young farmers

Young farmers considering purchasing their first piece of farmland should be aware of potential stamp duty savings available. This Victorian Government scheme has now been in place for some time, but has received little publicity. Consequently, very few farmers have accessed the concession.

Managing change at board and executive level

RSM recently held a lunch featuring a panel including Paula Dwyer, Professor Judith Sloan and Fiona McGauchie with Catherine Walter as MC to discuss how to manage change at board and executive level. This is a synopsis of the event.

46 percent of SMEs planning to invest in the digital space

Disruptive technologies and innovation are accelerating the need for change and are having a profound impact on many traditional business models and their revenue streams. To compete effectively, businesses must adapt and evolve quickly to respond to what is becoming the new 'norm'.

Cool weather but hot topics

Manjimup district members of Master Builder' South West Branch recently attended the first in a planned series of updates on industry topics. Builders, suppliers, professionals and sub contractors from Manjimup and surrounds met at the town's Gateway Motel for presentations from RSM and RUIC Fire.

RSM expands into Toowoomba

RSM, one of the largest mid-tier accounting firms in Australia, has announced its expansion into regional Queensland, opening an office in Toowoomba. The expansion comes as RSM consolidates a two-year association with Toowoomba accounting firm Laird Advisory by merging the local practice with the national accounting firm.

Tax and your investment property

When purchasing an investment property, the choice of ownership structure is important to ensure you minimise the effects of taxation. Available structures include self-managed superannuation funds (SMSFs), family or unit trusts and companies, as well as holding the property individually or in joint names.

Tax and your investment property

When purchasing an investment property, the choice of ownership structure is important to ensure you minimise the effects of taxation. Available structures include self-managed superannuation funds (SMSFs), family or unit trusts and companies, as well as holding the property individually or in joint names.

Superannuation rules flux drive SME owners to SMSFs

Superannuation continues to be an area of political discussion and potential change. While investment returns are generally good, the system’s unpredictability undermines people’s confidence.

Managing capital in aged care: how much difference does it make?

There is an acknowledged need for significant new capital investment in residential aged care assets. Investment decisions are driven by the expected return on investment. We postulate that the ultimate measure of this is return on equity.

Aged care: benchmark to whom and what?

Recently I ran the Sydney half marathon with one of my daughters (she beat me). When the results came out I was less than enthused by both my absolute and relative performance. This is an example of an unpleasant realisation from benchmarking. When I consider benchmarking for approved providers I find the following helpful:

Aged care and the relative metrics of managing revenue as opposed to managing costs

Some providers subscribe to the view that as most income is set by the government, the best way to manage operating performance in residential aged care is to actively manage operating costs, so for many this means managing the roster.

Five steps a business should take in the digital age

Ways of doing business are changing fast in the modern world, and failing to keep up could cost you dearly. There are five key steps a business should be taking in the digital age should they wish to retain their competitive edge and not be left behind.

Ten things to do before the end of the financial year

The end of the financial year is almost here again. We try to plan to reduce tax all year long, however 30 June presents us with some opportunities and it’s a critical deadline to make sure we minimise tax for the year. Here are some key opportunities to make sure you don’t miss out:

Lowdown on tax concessions

This is the time of the year when farmers get their last chance to reduce any tax liabilities before it is simply too late. With fantastic cattle prices, strong demand for sheep meat and finally wool prices heading north, suddenly livestock producers have a tax problem. Admittedly, grain yields and prices were lower than the previous year, but many farmers sold car

Small businesses instant asset write-off

Instant write-off for small businesses Small businesses will be able to claim an immediate tax deduction for each asset that costs less than $20,000 (net of GST credits), to the extent the asset is used for tax-deductible purposes. 

What are the cash drivers in your business?

There three primary cash drivers in any business and three secondary drivers. The primary drivers are responsible for the overall amount of cash that you generate. The secondary drivers are responsible for the amount that you have access to at any given time. It is often the secondary drivers that are overlooked.

What aged care means

We know there is high probability of entering aged care in later life. Quite likely, due to ill health at that time we will be unable to cope with all the decisions and forms required at that time. Making sure we have nominated somebody as our trusted financial power of attorney, long before that event, will make the process so much easier.

Caveat emptor - let the buyer beware

Let the buyer beware - a simple and obvious statement but one which is particularly relevant to business people. 

Ten step process to maximising the value of a business on exit

There are ten steps that can be used to maximise the value of a business which can be grouped into three distinct phases: Phase 1: optimum performance Phase 2: polishing the business Phase 3: creation of the sale

Ten financial terms every franchisee should understand

Many people go into business because they are passionate about the products or services they can offer as part of that business. Often, franchisees have chosen to purchase a franchise because it is a lower-risk business option than a start-up.

Selling a business - the basics

Preparing your business for sale

Advantages and disadvantages of cloud accounting

The term cloud doesn’t really describe an actual thing, it is

Six goals for increased business performance

Increasing sales is great. In fact it’s the number one goal of most businesses, however it’s not enough alone to ensure a growing bottom line. What you need to also focus on is increasing gross profit percentage.

How to finance your franchise

One of the most pressing concerns for many franchisees is to find a way to cover the costs involved in purchasing and running a franchise, including the initial purchase, plant and equipment, premises fit-out, working capital requirements and more.

Super is so much more

Yes, we have had our self-managed superannuation fund for a number of years. Our accountant looks after the tax each year, we sign a few papers, pay a few invoices and generally everything is pretty straight forward.

Digital disruption moving accounting software into the cloud

In the simplest terms, cloud computing means storing and accessing data and programs over the Internet instead of your computer’s hard drive. The most common example in business today is internet banking – most businesses access their bank accounts through browser based software, with the data hosted in the cloud.

Managing your cashflow

Managing your cashflow is crucial to running a successful business. Running out of liquid capital is one of the most common reasons that small businesses fail.

Make sure that fringe benefits are beneficial

The end of the FBT year is fast approaching, and it is a good time to reflect on your FBT plans for 2015-16. Fringe benefits are benefits that you provide to your staff that fall outside the categories of traditional wages and salaries. Examples of common fringe benefits include cars, low interest or interest-free loans and school fees.

Tips and traps with super

You have worked hard and accumulated a decent amount in your self-managed superannuation fund. Besides holding a cash component to pay the bills and your minimum annual pension, you have also built up other assets for your retirement.

Make innovation part of your company culture

Innovation is fundamentally important to long-term business success. While you may be able to take on the main role of envisioning breakthroughs for your business, it never hurts to get input from your employees.

Improving your sales pitch

Getting a sales pitch right is incredibly tricky and there are many things that you need to consider. Even the slightest moment of uncertainty or hesitation can cost you the customer’s trust, and you need to be able to think on your feet in order to respond to difficult questions.

Reduce tax on your super

Investing your hard earned monies into superannuation can have one serious sting in the tail. Put simply, your non-dependent children will pay 17% on the taxable portion of your superannuation benefits when you die. The aim with any tax impost is to reduce it as much as possible, whilst complying with the laws of the day.

How to combat super death tax

Many years ago we had death taxes, otherwise known as probate duty. This tax was imposed by both State and Federal governments with gift duties thrown in just to make sure you did not die with no assets and avoid paying probate duty. Because farmers are asset rich and income poor, death duties were seen to be very unfair.

Case study: Hutcheon and Pearce

The global population is expected to total more than 9 billion by 2050 and farmers will need to double their agricultural output while using the same amount of land, water and other resources. This challenge is one that General Manager of Hutcheon and Pearce, Arron Hutcheon, is ready to play a part in.

Case study: Wills Domain

Margaret River in Western Australia is Australia’s premium wine region. The region has weather moderated by the Indian Ocean and lots of sunshine.

Case study: Pindari

The vital and booming resources sector in Western Australia generates more than $100bn a year in revenue and inspires tens of billions of dollars in new resource investments. Pindari is one company that has swiftly grown from strength to strength through the boom.

Case study: Datatel Communications

"In the past we’d considered changing our company structure to employ an operations manager to look after the day-to-day running of jobs and the team of technicians, but with RSM's strategic plan we fast tracked that and now we’ve got Michael, our new operations manager.

Case study: Avondale Farm

2014 marked a significant milestone for 2012 NSW Farmers of the Year Peter and Alison Campbell.  Over 100 years ago Peter’s grandfather started farming 640 acres (260 hectares) 17 kilometres west of Henty, near Albury in the Eastern Riverina area.

Case study: ADG Prestige Builders

“RSM offers strategic advice particularly when it comes to managing finance. I will be looking to Ray and the team in the next five years to provide advice on the best way to finance the business to sustain growth”. - Adam Guilmartin, Owner

Case study: Cambinata Yabbies

Cambinata Yabbies are found in the world’s finest restaurants, but how many diners are aware of the extraordinary woman who pioneered Western Australia’s aquaculture industry in the face of recession and drought to bring this delicacy to their table?

Case study: Organisational Learning Australia

Organisational Learning Australia is dedicated to supporting the VET and community services sectors through nationally-accredited vocational education and training to diploma level, expert registered training organisation (RTO) consulting and advice services, and personal