Why The Independents Will Always Outshine The Banks
The recent banking royal commission has highlighted some appalling behaviour on the part of the big banks.
Unfortunately, the recommendations don’t tackle some of the key structural issues that lead to their poor behaviour in the first place. For instance, a lack of separation between their banking and ‘financial product sales’ businesses, which turned ordinary banking customer service clerks into salespeople. Many bank boards also don’t have a mandatory employee representative who can raise issues of malpractice and do something about it from the top down. As a result, the banks have always chased profit at the expense of many individual costumers and as the heat dies down from the royal commission, that same tendency will re-emerge. We’ve had a serious enquiry into banking every 10 to 15 years within the sector since the deregulation of the 1980s because we never fully resolve these issues.
6 Reasons people leave their accountant
1. They don’t get you the highest possible tax return.
This is a big one for individuals and businesses. Everyone wants to pay the lowest amount of tax possible while sticking within the law. But when you sit with your accountant and they ask you the same stock standard tax questions and habitually punch your details into a computer before churning out your predicted tax bill and quoting you on their fee…. you’re often left doubting that they found every saving possible for you. They’re just doing the bare minimum. Make sure you partner with an accountant who probes you for information, asks follow up questions and gets the information out of you they need to optimise every element of your tax return in your favour. Our staff have deep, up-to-date tax knowledge and they work harder so you enjoy the best possible tax result each year.
Plan for a Successful 2019
With Christmas around the corner, now’s a good time to put some plans in place so you can have a more profitable, less stressful 2019.
Be sure to set goals and plans that are both financial (your budget, loan balances, number of new clients you’d like to attract and personal (holidays, education, credit card balance). The old adage with goals is that they should be SMART – specific, measurable, achievable, realistic and time based. Also, make sure someone knows about your goals and can hold you accountable to achieving them. There’s nothing like a bit of constructive pressure to kick your performance up a gear. With my clients, we break down their next 12 months into 3-month segments and track how they’re doing along the way, making adjustments as we need to.
Once you’re clear on how to set goals, these are some of the areas you might like to focus on in your business over the next 12 months to help take it to new heights.
What are some goals you could develop within each?
Marketing Trends To Look Out For in 2019
With marketing, there can be a tendency to do what’s always worked for your business. With some rapid changes occurring amongst audiences though, it’s important to be aware of the trends so you can keep your marketing up to date. You can even try some bold new strategies to deliver stand out results that exceed what you’ve achieved before.
Here are 5 areas to understand and use as a platform for your campaigns in 2019.
Hiring the Right Staff
Whatever kind of organisation you run, a broadcaster, a government, a pizza shop, one of the most important decisions you’ll make is your choice of staff.
But how do you find good ones?
First and foremost, take chance out of it. Don’t simply post a job ad, or ask a friend for a recommendation and hope it works out.
What to expect of your accountant
What to expect of your Accountant
We all know, from working with tradespeople to real estate agents, there are big differences in performance between the best and worst in any profession.
So, what should you expect from a good accountant?
Here are 5 qualities to look out for. In fact, you should demand them.
Where did my money go?
Business owners quite often don’t track or follow where their cash flows through their business.
To understand your money goes you need to know the difference between cash profit and cash flow. The following diagram will explain the difference;
Sciacca’s News – June 2018
As we come to the end of the financial year its a good time to reflect on the year that was and what you want to change for the new year ahead.
We’re here to help you look at your options and give the advice you need to achieve your goals. Contact the office today to book in a meeting.
In this month’s news we’re bringing you:
- EOFY Checklists
- What is the Business Portal?
- $20,000 instant asset write-off
If you have any questions, please do not hesitate to contact the office 07 3357 5553.
Sciacca’s News – May 2018
As the end of the financial year is fast approaching it is a good time to start putting in place some strategies and tips for 2019.
In this month’s news we’re bringing you:
- One Page Business Plan
- 10 Small Business Tax Saving Strategies
- Individual Tax Tips
If you have any questions, please do not hesitate to contact the office 07 3357 5553.
Sciacca’s News – April 2018
We’re now in the last quarter of this financial year and it’s the perfect time to start tax planning! Book in to see us so we can check you’re on track and paying the right amount of tax!
In this month’s news we’re bringing you updates on:
- What distinguishes a growing business from a declining one
- Set up access to the SBSCH
If you have any questions, please do not hesitate to contact the office 07 3357 5553.