Blog


Over the past five years, claims for uniform and laundry tax deductions have increased. The ATO had sat up and take notice. The ATO AC, Kath Anderson has stated that too many taxpayers’ beliefs around how to claim clothing deductions are wrong. Here, we provide helpful advice and tactics to ensure you're getting your tax deductions right.


You might be surprised to know the range of assets you can actually finance. While cars, trucks and equipment are items commonly financed, it is possible to finance boats, buses, planes, computers, dental chairs and office fit outs.


Australians claimed about $23 billion of work-related expense deductions in 2015/16, however, the ATO believe a significant proportion of this amount is the result of over claiming of expenses.
As a result, the ATO have stated that they will be monitoring higher than expected claims. These are the areas you should brush up on to keep your work related expenses clear.


Your website looks good, but it’s not getting visitors, generating leads and converting to sales.
The primary difference is that the brochure style websites are all about the company, while lead generation websites are all about the customer.
Let’s examine the seven must-have online marketing tools that can help you turn your old website into a lead generation machine.


Airbnb is big and getting bigger. We answer the most common questions on the taxation implications, deductions and declarations around renting out all or part of your property on this very popular service.


When building a new website or investing in a website makeover or upgrade, it’s important to understand that not all website expenses are immediately fully tax deductible.  


Uber is looking for more drivers and Airbnb is seeking more hosts but what are the implications of becoming part of this new ‘sharing' economy’?


If you are employing staff in Australia for the first time, this fact sheet will help you understand your tax and superannuation obligations.


Starting a business can be a maze of research, registrations and red tape. No amount of passion can guarantee your business success but the proverb, ‘failing to plan is planning to fail’ serves as both great advice and a warning for new entrepreneurs.


Your website should effectively be your home base on the internet but how does it actually work and what is hosting and domain names?


Merry Christmas from all of the staff here at MGR Advisory Group. We wish you and your family a safe and happy festive season full of fun, rest and rejuvenation.  Please note that this office will close at 3pm on Friday 23 December 2016 and will re-open at 9am on Wednesday 11 January 2017


While many organisations depend on key people, too few understand the level of risk that the business faces by relying exclusively on certain individuals to be available to fulfil important roles.


Creating wealth through purchasing a negatively geared investment property is a well established practice in this country.  We have identified some common areas where property investors often trip up including claiming interest on loans.


The ATO Tax Rates are changing, which means you need to work out the new amount to withhold from payments made to employees or payees from the 1st October 2016.


Starting a business can be a mine field and the risks are high which explains why so many budding entrepreneurs look to buy an existing business or franchise operation rather than start from ‘scratch’.


As any entrepreneur will tell you, starting or buying a business involves research, risk, passion and planning. To be successful you need to make the right opening moves and over the years we have helped hundreds of clients navigate their way through the business start-up maze.  


With the new financial year and tax time now upon us, we are pleased to offer apprentices and students the special price of $66 for preparation and lodgement of your 2016 Income Tax Return. We can provide you with a fast and reliable service and our well trained advisers can help you achieve best tax outcomes.


More businesses are beginning to utilise the power of mobile technologies to increase the efficiency of their staff and the business as a whole. But what are the implications for the organisations overall technology platform?


The successful businesses of the future are the ones who are continuously investing in mutually beneficial relationships today. However, how do you manage the workload required to maintain and keep track of these relationships and convert them into sales?


When many businesses first start out the technology that is put in place can often be minimal. Does the technology you have in place reflect the proper status of your business or undermine it.


That ‘light bulb’ moment and idea for your new business is exciting but it's only the beginning of the journey for an entrepreneur. The moment of truth is identifying all the costs you will incur before you open the business doors. Will you need to source loans and how much?


When you're investigating buying a business it's important to do a detailed review of the business's operations, finances, reputation and industry as part of what is called the ‘due diligence’ process.


In the fourth and final blog from our recent ‘Your Business Improvement Series’ seminar, we tie together the lessons from our previous blogs in this series to discuss how referral machine businesses win new business through their key relationships naturally without pressure or coercion.


In the third blog from our recent ‘Your Business Improvement Series’ seminar, we discuss how referral machine businesses nurture and invest in their key relationships so that they evolve under their own right rather than through pressure and coercion.


In the second blog from our recent 'Your Business Improvement Series' seminar, we further examine how to turn your business into a referral machine. In particular we discuss building instant rapport.


MGR Accountants held the first seminar in the 'Your Business Improvement Series' last week. Over the next few weeks we will share some of the learnings from the seminar via a series of blog posts, starting with this first post - Turn Your Business into a Referral Machine.


The Government is currently considering the implementation of the “Small Business Restructure Rollover”.  This new income tax rollover, it if becomes law, will present many new opportunities for businesses to change their operating structure without adverse tax implications.
 


As accountants, the number one thing our business clients want is advice to help them grow their business. In the digital age we believe the secret to growth is marketing and it could be the difference between boom and gloom for any business.


Every entrepreneur wants to grow their business but there's no simple formula that guarantees success. In this series of posts we are up to the third way to grow your business, how to increase the value of each sale.


Clearly, everyone wants to grow their business. Unfortunately there is no magic potion or silver bullet but we do know there are only four ways to grow a business. In this blog we examine the second method, how to increase the number of times a customer comes back and buys from you.


Last night MGR Accountants sponsored BeStella's first event "Courage or Confidence", with a very motivational guest speaker Fabian Dattner.
We would like to say a big thank you to everyone at BeStella for a wonderful evening and the opportunity to be involved.


Let's be honest, everyone wants to grow their business but unfortunately there is no set formula or recipe for success. While every business and industry have their own idiosyncrasies there are fundamentally only four ways to grow a business. In a series of blogs we will examine the four ways to grow a business and we will start by looking at how to increase your number of customers. Of course, you don't want any customer, you want your ideal type of customer ...


The Federal Government has brought forward the start date for new farm tax breaks, effective immediately.
Farmers would now be able to deduct the full cost of water facilities and fencing in the year in which they were purchased.

 


Starting any business necessitates research, risk, passion and planning. However, a great idea, loads of talent or enthusiasm is not enough to guarantee business success in the digital age.