Accountant's Minute

Hello, I'm Peter Towers, Managing Director of ESS BIZTOOLS.  Welcome to Accountants Minute. Today we're going to look at government grants.  Some of the government grants offered by the Australian government are available for small/medium enterprises and as accountants and advisors I hope that you're aware of these grants so you can advise your clients about them. Industry Skills Fund...

The Early Stage Innovation Company legislation offers significant taxation benefits to eligible investors. To make Early Stage Innovation Companies work there has to be investors. Investors can qualify for two major tax incentives: 1. the 20% tax offset - which is available for sophisticated investors - up to $200,000 and for retail investors up to $10,000; and 2. the capital gains tax...

Promoting the Early Stage Innovation Company legislation to clients and prospects is going to be a task that, I hope, many of you will participate in over the next few months. The legislation is targeted at small/medium enterprises, inventors and young companies, particularly those that have been involved in research and development, have been admitted to the Accelerating Commercialisation...

In recent weeks, we've talked to you about the significant benefits that are available for new companies that have developed new products, services, marketing or organisational methodology to becoming an Early Stage Innovation Company. Today what I want to talk to you about is the benefits for investors because the government has made it very attractive for investors to invest in companies...

I want to share a story with you… A business comes to have a discussion with you on Research and Development.  You give them some advice and suggest that they form a company. A year later, they come back to see you and have their income tax prepared.  They’re very excited and they share with you some of the information pertaining to their R&D activities.  They’ve seen a patent...

The Early Stage Innovation Company legislation is a great "new revenue stream" for accountants and business advisors.  Deloitte produced a report a few years ago relative to digital disruption and one of the suggestions they made following that report's release was that accountants and advisors should identify new income streams. Well, that is exactly what the Early Stage Innovation Company...

Do you know that small/medium enterprises have indicated, in numerous surveys over the last 15 years, that they want to receive a wider range of commercial services from someone?  Obviously, that someone is ideally suited to be accountants and business advisors. Delivering a virtual Chief Financial Officer (CFO) service is a great activity for accountants/advisors to be undertaking in 2016/17...

Do you know that succession or exit planning has been identified by small/medium enterprise operators as one of the key issues for business success, in various surveys over the last 15 years? ESS BIZTOOLS has developed a full product package on succession or exit strategies, to assist accountants/advisors to deliver a full range of services to small/medium enterprises. In fact, the ESS...

Do you remember the Deloitte report, “Digital disruption – short fuse, big bang?” a few years ago?  In that report, Deloitte stated that they believed that accountants/advisors would need to create new income streams, to assist with the challenges from digital disruption. The Australian government has helped create a new income stream, with the birth of Early Stage Innovation Company...

Do you know that small/medium enterprises, identified in the CCH’s survey of small businesses a couple of years ago, said that business plans were one of the key services that small/medium enterprises are requiring that accountants/advisors to provide to them? ESS BIZTOOLS has developed a range of products that accountants/advisors can use to develop business plans, without you having to...

Welcome to 2016/17, the year of business advisory services. Do you know that the Accounting Market Pulse, produced by the Commonwealth Bank in their December 2015 issue, forecast that the top service line to enter and grow during 2016/17 for accountants and advisers would be business advisory services and management consulting services? ESS BIZTOOLS produces articles, forms, templates,...

Have you introduced your clients to a risk management strategy?  Do you know that $120M has been lost already by Australian businesses in court cases relating to the Personal Property Securities Act (PPSA)?  This is primarily due to those businesses not having registered their assets on the Personal Property Securities Register (PPSR).  According to “marketplace rumour”, a further $200M...

Do you know that, in various surveys, small/medium enterprises have identified that they would like to receive additional commercial services from their accountants/advisors? One of the key services is improvement in cashflow and one of the big components of cashflow is debtors’ management. ESS BIZTOOLS provides a debtors’ management service for accountants/advisors to utilise with...

Welcome to 2016/17! According to “Accounting Market Pulse” produced by the Commonwealth Bank of Australia, this is the year of “business advisory services”. What can you do to add value to your clients, create a great interesting work environment for your team and add value to your accountancy business? You could start by asking your clients some key questions, including:...

The Early Stage Innovation Company (ESIC) legislation commences in Australia from 1st July 2016.  Unfortunately, the legislation for Crowd Funding Equity Raising was still in the Senate when the Senate adjourned for the double dissolution election.Register for our free webinar: Introducing Early Stage Innovation Companies:Wednesday 6th July 2016 at 2pm AEST. Click here  Tuesday 12th July 2016...

Do you know that accountants/advisors have been identified as the trusted adviser for small/medium enterprises, to offer a range of non-compliance services in addition to taxation, to help small/medium enterprises to grow and add value to their businesses?ESS BIZTOOLS develops products to assist accountants/advisors to deliver the types of products that small/medium enterprises have been asking...