Poole Group

There is always a misconception that insurance companies don't pay claims or try to get out of paying claims especially when the media portrays them in the worst of situations. However, in 2012 the life insurance industry paid out over $5 billion in claims as reported by the Australian Prudential Regulation Authority (APRA).

The latest APRA Quarterly Life Insurance Performance statistics showed that the total life insurance market paid $5.4 billion in death and disability claims over the year ending December 2012. This is an increase of nearly $600 million on the 2011 figure, and $1 billion more than was paid out in 2010.

As the trustee you need to be aware that the ATO require that appropriate declarations and minutes be documented & signed PRIOR to the end of the financial year 30th June 2013.

The ATO will look at declarations not made and signed by the 30th June 2013 as invalid. This may result in 46.5% tax potentially being paid on the income regardless of the personal tax position of individuals associated with the trust.

Recently we had a May 2013 budget handed down by the government of the day. I have had a number of interviews with clients following the budget were I have chatted to clients about what I thought was important about the budget.

However I have noticed a distinct lack of interest from clients regarding the points I wished to discuss. I quizzed one client in particular, that I have known for many years, regarding his general lack of interest, and while he did not really respond his expression got me thinking.

I looked at my own thoughts regarding the budget and I came to the conclusion that, after five years of the GFC and witnessing the small business stresses "I had just stopped listening to what the government is saying".

Little known to most Sunshine Coast companies there is a rather large tax offset available that is rarely utilised. Known as The R&D Tax Incentive, the ATO offers a 45% refundable Tax Offset for expenses that have been incurred by firms of all sizes for the purposes of Research & Development.

The Research & Development Tax Incentive is a targeted, generous and easy to access entitlement program that helps businesses offset some of the costs of conducting R&D. The Program aims to help more businesses do R&D and innovate. It is a broad-based entitlement program meaning it is open to firms of all sizes in all sectors who are conducting eligible R&D.

Still using Pen & Paper to manage jobs? GeoOP is a leading Online Job Management solution for businesses with mobile employees; everything from tradies, to landscapists, mobile healthcare workers, solar panel installers, security, roofers, locksmiths and more.

GeoOP is available on the web and as a mobile App. It supports platforms such as iPhone, iPad and Android phones and tablets.

GeoOP streamlines business processes such as job scheduling, quotes, time and materials tracking. It's also integrated with a number of incredible products to supercharge productivity and business efficiency (view details below).

When talking about "the Cloud" it's always intriguing to hear how few people truly grasp or understand this technology revolution that is engulfing the world and forever changing the way business is done.

Maximising the benefits of "The Cloud" is about picking the best program for each part of your business function (e.g. marketing, production, accounting, etc.) and integrating them to create an efficient and usually cheaper software solution that is tailor made to suit your business needs.

If you were to say to people, listen there is a potential "Tax Haven" with the full support and backing of the Australian Government; a "Tax Haven" that allows and encourages you to save for retirement; a "Tax Haven" operating within a jurisdiction you know and understand; then I am sure they would say "Tell Me More".

Welcome to the Australian Superannuation system!

Medical practices are usually very stable businesses, operating from the same location for many years. Overtime, while the doctors operating from the location may change, the public associate the physical location with a medical practice and site goodwill grows. With this in mind, a strategic opportunity may arise to own the physical location and capture this site goodwill for the future.

Many of you have probably thought from time to time what it would take to purchase a commercial medical suite, perhaps with a collea

Sunshine Coast Council has recently voted to allow discount chain store Target to open its second major store on the Sunshine Coast at Kawana Home Central.

Councillors voted in favour of an amendment which will allow the development to go ahead after Cr Peter Cox successfully argued for a motion which will allow Target to temporarily open the 2000sq m store on the condition it would move to the Kawana Town Centre in five years.

One in three Australian's admit to living pay cheque to pay cheque, while one in five say they would be unable to cope with an emergency expense of less than $1,000, according to new research from BT (November 2012).

A survey into the financial health of nearly 5,000 Australians found that 30% of respondents said they rarely had money left over after each pay cheque. In addition, less than half said they were able to meet their monthly expenses.