Case Study on How Tax is Treated For Insurance Proceeds For Destroyed Assets When an asset is unexpectedly destroyed, business owners usually focus on maximising insurance entitlements under their policy – and the tax treatment of the proceeds are an afterthought. Often, insurance proceeds will result in a damaged item being replaced. Compensation may also…
Why a Key Person Insurance is Important for Businesses What would happen if a key person in your business was unable to work? For small to medium business owners, if the Keyperson in your business suddenly became unable to work it could put the business at risk of collapsing. In this instance, you cannot afford…
What’s the Danger of Cyber Threats on Small Business? Cyber-threats can exist under a number of guises. Denial of service attacks overload systems – for example, by flooding a website with more requests than it can handle. This kind of attack was reportedly behind the failure of the Australian Bureau of Statistics’ site during Census…
Things to Know About Intellectual Property Written By Linda Cornacchia The dictionary definition of Intellectual Property is “intangible property that is the result of creativity, such as patents, copyrights, etc.” It incorporates creations of the mind, inventions, literary and artistic works and symbols, names and images used in commerce. Categories of Intellectual Property Intellectual Property…
The Australian Government Passed Safe Harbour Legislation Written by Linda Cornacchia Recently, the Australian Government has passed new ‘Safe Harbour’ legislation. This is an important change providing useful opportunities for companies when restructuring. The new law means that directors will be able to trade on their company when its solvency is questionable. The safe harbour…
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