Entries by Lisa Haberfield

Guide to Creating a Succession Plan

Succession involves making sure the success of your business continues through a timed change of ownership and control. Who will take over the business, when will they take over and how they will they take over the business should be outlined clearly in a succession plan. Many owners feel daunted by the idea of handing […]

The Most Common Ways of Exiting a Business

At some point, every business owner will decide to exit their business. There are various reasons why this happens. These include declining profits, growing competition, shift in life goals or health, retirement, or handing over the business to family members. Some may even exit their business because they can’t keep up with its growth. Exiting […]

ATO Eyes Sharing Economy

The Tax Office is setting its sights on the $500 million sharing economy, which consists of various platforms that let hundreds of thousands of Australian earn a bit of cash on the side by renting their spare rooms and parking spaces, lending their cars and driving people around the city. In 2015, the ATO hit […]

What Small Business Qualifies for the CGT Rollover Relief?

The Australian government has passed a law allowing small businesses to amend their legal structure without making them liable for capital gains tax (CGT). According to Small Business and Assistant Treasurer Kelly O’Dwyer, small businesses that discover that their current legal structure no longer suits them don’t have to be stuck with it. With this […]