The Chasers Channel - Empowering Small Business Owners to Achieve the Dreams They Are Chasing!

The stage three tax cuts are set to take effect from the 1st of July 2024. These cuts will bring tax relief, particularly for higher-income earners, creating exciting opportunities to boost retirement savings. They involve: removing the $120,000 to $180,000 tax bracket. increasing the top tax bracket threshold from $180,000 to $200,000 and reducing the marginal tax rate faced by taxpayers in the $...

Withdrawing part of your superannuation fund balance and then paying it back into the account, known as a recontribution strategy, may sound a little strange but it could deliver a number of benefits including reducing tax and helping to manage super balances between you and your spouse. This episode is about using your superannuation balance and the rules regarding contributions to tax effectivel...

Employers are desperate for workers and cost of living pressures are making it tough to live on a pension. That’s a perfect mix of conditions to send some retirees back to work. But it’s smart to get good advice before you take the leap. This episode is about returning to work after retirement and what to look out for.

Many of us use some form of advertising to attract potential customers to the landing pages on our websites where an offer is made to them with a call to action for them to subscribe to our email list or register for an offer. This type of landing page is called an opt-in page and is focused on collecting email addresses in exchange for something valuable, often called a "lead magnet” - a fre...

Previously, the Victorian Vacant Residential Land Tax only applied to specific council areas around inner and middle Melbourne. However, in October 2023, that all changed when the State Taxation Acts and Other Acts Amendment Bill 2023 was introduced into the Victorian parliament and will now affect Victorian land where the land is taxable, residential and vacant. SMSF trustees with residential pro...

The calendar turns over to a fresh, brand-new year, full of promise. But many of us stay stuck at the promise to do stage. This episode is about how do we keep these promises we make to ourselves and get to the end of the year with our resolutions intact and goals realised.

With the busy lead-up to Christmas and now the New Year many small businesses have a challenging road ahead of them, especially in this recovering economy. Small businesses that were already in operation when the downturn began were hit hard and are struggling to stay on their feet, that is, if they don't go under entirely.  Managing stress as a small business owner can be a monumental task, b...

Those of us who have kids (particularly young ones old enough to believe in Santa and the magic of Christmas) or will be surrounded by them via family or friends at Christmas time will at some point in time be confronted by the real BIG QUESTION when it comes to answering their questions - about Santa and whether he's real! So, how do you tell your kids without them totally freaking out and ye...

With your small business, if you’re not using social media, you’re missing a trick. Social media is a fantastic way to promote your business and engage customers, especially in high-spending times like the run-up to Christmas! This episode has ideas for how you can get social this Christmas which can even lead to more sales!

While a Christmas party can be great fun, it can also be the catalyst for people arguing, losing their jobs or even - worst case scenario - ending up in jail. In fact, it's now become so much of a talking point that lawyers now see this time of the year as a very lucrative part of their litigation business. Not to worry today’s episode has some party safety tips for employers and employees to...

It’s that time of the year when the spirit of Christmas is truly alive - the decorations are up everywhere, Mariah Carey is stuck on auto replay in shopping malls and businesses are looking to celebrate with their Teams at the annual Christmas Party and provide them with Christmas Gifts. This episode is about the costly mistake that employers often make when playing Santa for their Team and then t...

The use of remote offshore workers or virtual assistants is revolutionising the way business owners deal with a large number of menial tasks in a labour-shortage market.  Virtual Assistants or VAs can work on a part-time or full-time basis, and they can be hired for specific projects or on an ongoing basis. They are typically paid by the hour, project, or month. In this episode, I am joined by a b...

If you are a UK Expat, then there is the potential for you to make a small investment before the 5th April 2025 that gives you a guaranteed pension for life. UK expats who have not yet reached state pension age may be able to make voluntary National Insurance contributions to improve their state pension entitlement.  They may choose to rectify this by making a voluntary contribution for missed yea...

You have stated you want to write a book, start a new marketing campaign, get up early so you can get fitter and healthier but something holds you back. Weeks go by and you still want to do it but you just can’t get started. Why? This episode is about the dreaded affliction that stops many aspiring business owners and individuals from achieving the dreams they are chasing in their lives - Procrast...

Generally, a contribution to a self-managed superannuation fund (or SMSF) is tax deductible when it has been received by the SMSF BEFORE the 30th June and is acknowledged in writing by the fund Trustees that they have received a Notice of Intent from the payer that they wish to claim the contribution as a tax deduction. In the case of electronic transfers, there is a danger of missing out on a tax...

Real estate is many people’s most valuable asset.  If you own property, it’s important to make sure it’s protected with a security system and insurance. Property insurance is a type of insurance that covers your home and its contents against damage or loss caused by certain events, such as fire, theft, and natural disasters. It can also provide liability coverage in case someone is injured on your...

With higher interest rates impacting investors, many buyers are looking at creative ways to boost their rental income. One popular strategy is building an extra dwelling – like a granny flat – on the property. While it’s not possible in all situations, there are benefits to having a second residence on the property. This episode explores some advantages and disadvantages of building a granny flat...

When we have a Team who understand their roles and are good at what they do they tend to be eager to do more and accept the challenge of being busy and productive. So, it makes good economic sense to look at ways to generate more business to satisfy that need to grow your business. But if you focus solely on getting new customers, you're missing a big opportunity. When it comes to growing a bu...

Normally, an SMSF can't invest too much in assets owned by related parties (like family members or business associates) because of the in-house asset rule which restricts investing to 5% pf the total assets of the fund. This episode is about a unique way for SMSFs to co-own Property with family or business partners within investment limits. 

Starting up a business with no advice and with no asset protection is like walking into a casino and betting your house (and perhaps most of the other assets you have accumulated to date) on your favourite number - you risk losing everything! One of the biggest risks is that you could be held personally liable for any debts or legal issues that arise from your business. If your business fails or g...

The key to most property transactions comes down to a buyer's ability to secure finance. But over the past 12 months, as interest rates have risen against a backdrop of higher property prices, obtaining finance hasn’t always been easy. The first step most would-be buyers take is speaking to a mortgage broker and getting a pre-approval in place. This episode explores whether pre-approvals are r...

We all have seen those ads on TV - compare the pair - and they really are misleading in many ways stating that Industry Superannuation Funds are superior to Retail Superannuation Funds. There is no comparison of the features and benefits of the insurance products held by each which can dramatically affect a member at claim time. This can make those compare the pair ads very misleading.

Are you the one in your business who is answering phones, talking with team members, fighting fires, juggling all the elements of your business at once - marketing, sales, management, operations, finances, cash flow, debtors, creditors, suppliers and more? You’re extremely busy and you’ve just realised that you forgot to eat lunch again, and someone unexpected has just walked in the door.  Unfortu...

This episode is about claiming a tax deduction for your personal superannuation contribution on your income tax return and the hidden trap if the relevant paperwork has not been completed, lodged and acknowledged as being received by your superannuation fund. In such cases, there is simply no way to claim the personal contribution as a deduction. The tax law doesn't provide any discretion to t...

The Australian Tax Office or ATO pays close attention to the expenses claimed by landlords, especially those operating in the Airbnb space. They are ramping up its enforcement activities and will undertake 4,500 audits of taxpayers it considers are “high risk” because they claim expenses incorrectly, overclaim or don’t declare income relating to rental properties. One area that is quite often misu...