Money & Legal

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11
Feb

2013 – Year of the stock market investment?

Written by Liam Shorte

Of late, I have been inundated with emails from fund managers, share brokers and economists saying that 2013 will see a surge in the local as well as international share markets, but they caution a short term pull back is due after the recent surge. One of the main reasons for this optimism is that with interest rates so low, cautious investors are now considering a move back into the share market, albeit mainly into the top 20 blue chip stocks.

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04
Feb

10 Ways to Increase Your Profit Margins

Written by Nick Roberts

Many business owners think you need to increase sales substantially to make more money. But often that’s too difficult, especially in the short term. Take, for example, the prospective client I met a year or so ago in difficulty. He kept on and on about increasing sales to new customers. But I worked out that his average sale per customer and his prospect conversion rate were so low that he needed 3,750 meetings with prospective customers in the next year just to get back to breaking even!

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20
Dec

Are you violating anti spam laws?

Written by Adam Turner

Not this one. It's always good to stay in touch with your customers virtually. But if you are using email, SMS and MMS, it's vital to ensure your business doesn't end up on the wrong side of Australia's anti-spam legislation. Anti-spam laws were introduced almost 10 years ago to help curb the number of unsolicited emails we're bombarded with each day. Unfortunately the bulk of spam, spruiking dodgy pills and insurance scams, comes from overseas where the senders are beyond the reach of Australian law. Of course the legislation isn't just targeted at those peddling cheap meds and pay day loans. Any Australian business could fall foul of the law and face significant fines.

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17
Dec

How much do I need to retire at 60?

Written by Liam Shorte

Theoretically, how much money you need in retirement depends on how long you live. Although there is no such crystal ball for this, we know that improved healthcare and economy has resulted in people living longer than their parents’ generation. When budgeting for retirement, try to go for the maximum life expectancy. Men can expect to live up to 86, women to age 90. This means if you retire at 60, you need to fund your living expenses for at least 26 to 30 years, if not more. Also, look at your lifestyle and medical history as well as your family’s life expectancy and medical history. It's never too early to start thinking about how to maximise your income in retirement. By acting earlier, you have a better chance at achieving and funding the lifestyle you want.

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06
Dec

Consolidating your super? Read this first

Written by Liam Shorte

Let me start by painting a typical scenario I faced recently. A couple wanted to buy an investment property. Their mortgage broker advised them that they were on the margin of getting the loan but needed to show more assets. He suggested they update the information and values of their numerous superannuation funds and to see me for help. The clients decided they can do it themselves and save some money, which is fine by me, as I like clients to take ownership and be proactive. I pointed them in the way of www.unclaimedsuper.com.au and www.ato.gov.au/superseeker, which are two sites helpful in tracing lost super. I expected them to come to me with a list of the values and for advice on the next step. Instead of researching and finding the current values, they took up the offer of a fund to consolidate all their accounts into one – on a no-advice basis of course! Just “a few simple forms” they were told. So, they completed the standard, government-provided “whole of balance transfer” forms, and the process got underway. At this point, they came to see me about insurance. With the extra debt they are taking on, they would need a backup plan such as a life and income protection insurance in place.

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28
Nov

Your common accounting questions: Buying a business

Written by Tracey Sharah

Looking at buying a business? There are many reasons that drive people to consider buying a business. Maybe they have been made redundant from their employment and they need to "buy a job.” Maybe they discovered an opportunity they can take advantage of being in the right place at the right time, or they want to expand their business quickly. Here are my top 3 tips to guide you through the decision making process: 1. Due Diligence is a must before any offer is made. Due diligence consists of conducting a detailed review of all aspects of the business you are looking to buy, particularly in relation to its strengths and weakness, whether they exist now or could arise later. What are the items to look at?

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