I have a question for Dr Ray Hamey. Do banks really take any notice of business plans or just real estate security? My response: That’s q question often asked. First of all, when you make a loan application, it is sent to the headquarters and assigned to very experienced accountants or business analysts. Your bank …
There are a number of ways to organise your business structure. Many tradespeople become subcontractors and simply work for themselves. These contractors for example, are often sole proprietors or sole traders. Partnerships used to be very common, but they do not offer a reasonably limited liability (from damages or lawsuits) and in effect and not …
Tax is a very boring or interesting topic depending on your perspective. The tax system is designed to collect money from you and when you get a refund from the Australian Taxation Office (ATO), well, it was really yours to start with. The ATO doesn’t give you anything unless it’s a bill. The best way …
I have a question for Dr Ray Hamey. Do banks really take any notice of business plans or just real estate security? My response: That’s q question often asked. First of all, when you make a loan application, it is sent to the headquarters and assigned to very experienced accountants or business analyzers. Your bank …
Small business often has an issue in trying to raise capital to finance expansion for equipment or simply to provide cash flow in the development stages. With the advent of Covid-19, most small businesses in Cairns have suffered dramatically and will require working capital. The problem is that the figures will not be as good …
The question asked by Rail is extremely interesting and complex. First of all, depends whether you are establishing a new business or you are purchasing an existing business. Let us consider first of all if you are starting a business. What I have found is that clients will do up a spreadsheet with all the …
Crypto-currency trading needs to be accounted for in your income tax return. The taxpayer needs to account for the profit (gain) or loss in your income tax return. This occurs only when you sell the currency not by holding the asset, generally speaking, for income tax purposes. A passive investment is one where the asset …
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