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.
With all the noise in the media and the constant barrage of headline-grabbing news around recent superannuation changes, it’s easy to feel overwhelmed and even confused about how all this will affect your personal financial success.
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.
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...