McAdam Siemon : Accountants and Business Advisors

"Looking to sell your Management Rights complex? Is your complex ready for sale?

Browse the words of advice from our Management Rights Accountant Sam Hodgetts CPA, to make sure you're on the right track.

1. Purchasers are becoming increasingly wary of any issues found during the financial verification process. Small issues that may have been overlooked by purchasers are now being scrutinised heavily, and in many cases can end in contracts being terminated.

When it comes to Management Rights, here are the two questions I'm frequently asked by purchasers looking at a complex: "Is this a good deal?" and "Is the multiple correct and am I paying too much?"

Follow these five simple tips and you'll be closer to determining if you're onto a good thing:

1: My view has always been that the market will dictate the multiple. I am not a valuer and as such multiples are not my area of expertise however, my advice is that you must look at your purchase from a variety of angles in order to determine if it's a great deal or a lemon. Each case is mutually exclusive and should be treated as such.

Facebook, Twitter, LinkedIn, blogs....Social media has taken over as one of the most powerful business marketing tools in the world, and any business (no matter how big or small) that doesn’t have a grasp on the basics, should definitely get in the know.

Social media does two very powerful things for business: it connects audiences with brands, and people with services. In fact, it has the potential to do more for a business than any paid-for advertising campaign.

On the other side of the coin, done poorly or without proper thought, it can be a risky venture. But it’s a risk worth taking, as opting out of the social media world leaves a business exposed to their competitors who - right now - are connecting with customers and promoting their services online. You either get online or get left behind.

We are deeply saddened by the loss for individuals and businesses as a result of the Queensland floods, and offer our sympathies to all affected. It is heartening to see Queenslanders pulling together to assist with the recovery process. At the front of our minds are two clients, Rocklea Diesel (www.rockleadiesel.com.au 3277 9188) and KGB Locksmiths (www.kgbsecurity.com.au , 3276 4440) . Both businesses have suffered significant damage and we encourage you to keep them in mind when needing either locksmith or mechanical work undertaken.

Client alert - does the Bamford decision affect you?

Do you have a Discretionary or Family Trust? If yes, then the landmark Bamford case and the long-awaited decision between Bamford v. the Australian Commissioner of Taxation will potentially have an impact on you. We are now digesting the Australian Taxation Office's decision to crack down on discretionary trusts, and a new compliance issue has emerged concerning the ATO's reaction to the controversial case.

In a nutshell the issue is this: There has been a long-standing debate regarding the concepts which support the tax treatment of beneficiaries of a trust and how they are taxed. There are some very important consequences for taxpayers arising out of the decision.

McAdam Siemon is proud to launch a new series of newsletters on how to market your business effectively. We recognise that running a successful SME is far more than a numbers-game.

With this in mind, every quarter we’ll send a handy update on how to market your business effectively.

Our expert is Rosie Whittam, who has over 10 years experience in public relations, marketing and communications. Enjoy our first edition and if you have any specific questions for Rosie, please do not hesitate to email us.

What are your 'New Year' resolutions for your business? January 1 may be the date many of us evaluate our personal lives, but the crucial date for business is July 1.

Last Wednesday would have been frenetic for many businesses as they rushed to pay bills, organise expenses, transfer money and get their books into shape before the big day.
As many of our clients breathe a collective sigh of relief that 30 June has been and gone, the work for us continues to ramp up.  Contrary to those age-old myths about accountants and their pocket pen protectors, this is actually the time when many people appreciate just how important the role of their accountant is in helping to drive the success and sustainability of their business.

Year-end tax tips for business

It's that time again. The end of financial year is looming and the Australian Taxation Office is preparing to get down to business.
At this time of year, SMEs are very aware that every dollar counts.  Keeping a business's tax burden as low as possible ensures more money can be spent on helping the business prosper. June is the last chance to step up your tax deductions and boost tax savings, so to help businesses navigate their way through the turbulent waters of taxation, we’ve prepared the top tax tips on how to improve savings and avoid a hefty tax bill.

We’ve been talking with many of our clients in recent months about the value of us all regularly reviewing how we contribute to superannuation. At McAdam Siemon, we encourage all our clients to be aware of their current situation, and objectively evaluate their arrangements on a regular basis.

As we approach the end of the 2010 financial year, now is the time to review the contributions you’ve made to your fund for the year to date.  Contributing can be a very effective way to minimise your tax whilst boosting your retirement savings.

Here is a useful reference guide to some of the terms used for superannuation: