June2015

As the end of the year is fast approaching, now is the time for Trustees to ensure their SMSF is in order.

There are a few critical areas  SMSF Trustees should look at and here is an end of financial year check list to help:

1. Investment Strategy: SMSF’s are required to have an investment strategy to reflect the purpose and intentions of the trustees.  This should be reviewed and updated on a regular basis.  This will ensure any changes in circumstances are taken into consideration when undertaking investment decisions.  It will also prompt trustees to consider the need for insurances within the fund. Read more →

Business Advisory Services.  What are they and why would you need them? As the name suggests Business Advisory refers to recommendations and advice in relation to your business and how to make it run smoothly and efficiently.  Specifically business advice in relation to how you can improve your business.  How you can improve some key areas of your business including cashflow, debtors, creditors, stock, business profitability and the ultimate worth or value of your business.

Did you know that your level of debtors and stock can adversely impact your cashflow and therefore your ability to pay your creditors? These areas of your business are interrelated.  If one of these areas is not at the right level there can be some unwanted consequences for and in other areas of your business.

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