Posts by Tracy James
Is your Financial Planner Ethical?
This is a very important question that every financial planning client would definitely like to know the answer to. But in practice, how would a client know (until it’s too late and they have paid the financial price for it)? There are numerous ways unethical financial planners can rip off and fleece clients. A few…
Read MoreNotifiable Data Breaches Scheme
Effective from 22nd February 2018, the Privacy Amendment (Notifiable Data Breaches) Act 2017, establishes the Notifiable Data Breaches (NDB) scheme in Australia.
Read MoreDisclosure of Tax Debts to Credit Reporting Bureaus
The Federal Government is legislating to allow the Australian Taxation Office (ATO) to disclose information on businesses tax debts to registered credit reporting bureaus (CRBs).
Read MoreHow Low Can Compliance Fees Go?
Compliance services are now completely commoditised. The commoditising of compliance services was inevitable really, and the only surprising thing is how long it’s taken.
Read MoreFive Signs Your Tax Accountant is a Turkey
As a taxpayer looking for a new tax accountant, you want to avoid the turkey and deal with an above average accountant.
Read MoreAccountants Embracing Outsourcing Overseas
Over ten years ago, forward-thinking Australian accounting practices started outsourcing part of their work and processes overseas.
Read MoreTwo Heads are Better Than One
It’s well known that two heads (or more) are better than one for problem-solving, coming up with ideas, and management in general.
Read MoreHow Long Before a Business Owner Does Not Need an Accountant at All?
Rob Nixon, in his latest book ‘The Perfect Firm’, asks this question ‘How long before a business owner does not need an accountant at all’?
Read MoreSMART Criteria
In the UK in 1974, passive investment income was hit with a 15% investment income surcharge which took the top rate to an incredible 98%.
Read MoreThe Trouble With Debt
The three ways accountants can get in trouble with debt financing their practice are: Using short term debt to make long term investments. Doing this creates problems as the short-term debt will need to be refinanced well before the long-term investment returns are available. If the short-term debt cannot be refinanced, the lender will either…
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