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The Four Types of Business Structure

How To Protect Your Assets And Limit Liabilities



What is the right Australian business structure for your business? Sole trader, company, trust or partnership? It is not an easy decision to make; the wrong choice could be costly and put your assets at risk. So taking the time to evaluate your choices and make the right one is well worth it in the long run.

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How does the 2018 Budget affect you?




Mr Scott Morrison, the Federal Treasurer, handed down his third Budget on 8 May 2018. Being an election budget there were a number of sweeteners below that may be of interest to you.


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Tax Planning - Are you prepared for June 30?

The financial year is fast coming to a close and it is time to consider your potential taxation position before 30 June. 

We provide tax planning strategies which incorporate a review of your performance for the current year to date and will estimate your position as at 30 June. Being informed of your tax position will enable you to implement tax effective strategies prior to the end of the financial year.

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Planning is Key to Agricultural Business Success


In this post we're going to explore some of the key strategies to planning for your agricultural business' success.Whether you're a small market garden growing vegetables or a large agriculture business exporting livestock, when it comes to growing a profitable and sustainable agriculture business planning is key to your success.

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New Phone Numbers for Murray Nankivell Offices


WE HAVE NEW PHONE NUMBERS FOLLOWING OUR MAIN OFFICES SWITCHING TO NBN

These changes also mean that voice communication will be more reliable if we also adopt these numbers across our visiting offices.

Please update your contact lists accordingly.

(08) 8752 8888 Bordertown, Coonalpyn, Kaniva, Keith, Kingston, Lameroo, Nhill, Tintinara
(08) 8765 7777 Naracoorte, Millicent, Penola, Robe
(08) 8535 5999 Murray Bridge, Meningie

We will talk to you soon!

What Truck Drivers Need To Know About Claiming Meal Expenses


How the guidelines have recently changed,
and how to claim without getting caught out
 

If you're a truck driver, you'll have heard that recently the ATO has made changes to the way you can claim meals. After working closely with those in the industry, the ATO has reinstated their previous meal-by-meal claims system. With so much change, it can be hard to keep track of exactly what you can claim, and for how much. That's why we've put it all together to help you keep track.

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12 Tips on Reducing Your Tax in Farming


Working farms and agricultural properties, like all businesses, have unique tax deductible expenses when it comes to both the running of the property and capital gains tax (CGT). The below lists some of the more common ATO deductions for farms and agricultural properties. You may not have considered that some of the money that you spend on running your farm is completely tax deductible! Here are some examples of farming deductions:

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Continuing to Grow

We are pleased to announce that Mencel Business Services (MBS) will merge with Murray Nankivell from 1 July 2018.  MBS have provided Accounting, Taxation and other business services out of Naracoorte, Robe and Kingston for over 25 years.  MBS' Directors, Rick and Robyn Mencel, are planning for their retirement and have decided to merge with Murray Nankivell.

Rick and Robyn together with some other MBS employees will become part of the Murray Nankivell team and we have started planning for the transition.  We are excited to have MBS staff and clients join with Murray Nankivell which will add strength and depth to our existing team to continue to improve our service offering.

We believe it just makes sense for the two local businesses to merge and continue to provide first rate know-how to clients in the South East and beyond.

Three Risks of Direct Life Insurance

 

How you can get an appropriate policy and advice for your situation

Direct life insurance can 'appear to be' the saving grace to many of our worries. It's cheap, easy to apply for and can be done in no time at all – which makes it the clear choice for many time-poor consumers who want to do the best they can with what they have.

While seeking the advice of a financial adviser might seem like money and time that could be saved, the benefits of seeking out professional advice when it comes to life insurance far outweigh the cost savings.

Direct life insurance isn't always the best option, for a number of reasons, three of which we've outlined for you below.

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Single Touch Payroll starts 1 July 2018

  

For medium to large scale businesses, 1 July 2018 will bring a huge change in how they report payroll information to the ATO. That's the date the Government will roll out Single Touch Payroll, their new streamlined reporting solution. This system will allow employers to report wages, salaries, withholding, workplace giving, and super information to the ATO at the same time they pay their employees. 

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