The latest edition of the MP+ Newsletter is here! We're winding down the year with a range of articles to help you improve your business, prepare for retirement, and get the most out of your Self-Managed Super Fund (SMSF). Follow the link below to get to the newsletter. https://mailchi.mp/mckinleyplowman/mckinley-plowman-newsletter-novemberdecember-2018-editionread more
For those looking to get into small business, gaining an understanding of the state of the market, competition and current areas of concern is important in guiding business decisions, particularly in the early stages. The Australian Taxation Office (ATO) has recently released some interesting insights into the small business sector, particularly around what small businessesread more
Have you ever gone straight to one of the Big 4 for finance and realised later down the track that you could have secured a better deal elsewhere? It’s a common narrative, and something that brokers can help people avoid. Brokers help people get the best deal for their clients; put downward pressure on interestread more
Using a Self-Managed Super Fund (SMSF) to purchase property is becoming increasingly common. It can be tax-effective, allow you to invest in both residential and commercial properties, and utilise your superannuation before you retire. However, before you setup that brand new SMSF to buy property, you may want to consider the following. Residential v Commercialread more
Discretionary trusts and private companies are used extensively by small and medium sized business owners and families, and have been proven to provide tax effective strategies during business and working lives. However, there are implications in retirement around means testing, including for pensions and fees for aged care. Case Study In a recent case, aread more
Ever thought about investing in property using your super? Transferring commercial property into superannuation is commonplace – and has been for many years – and the benefits of owning property in superannuation can be significant. In order to understand the real-word application of owning property in your super, consider the following example. In this situation,read more
For many people, branding is something that’s associated with big, multi-national businesses like Coca-Cola, Microsoft, Apple and Ford, to name a few. While small business owners may not see the value in establishing and maintaining a brand, it could prove to be an important investment that fosters awareness of your business, drives sales and setsread more
In 1999 I walked through the doors of a small office in the centre of Joondalup WA in search of an accountant who could fix the mistakes I had made in my tax return. Mr McKinley and Mr Plowman were there and 19 years later their 2-person firm has grown into a 50+ strong teamread more
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