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Business challenges of 2016

Posted on March 8, 2016 by admin

No matter where your business is in its lifecycle, there is no shortage of challenges that will affect its ability to grow. But there are ways owners can overcome these hurdles if they simply invest enough time and effort into planning for the future.

Here are three challenges 2016 so far that every business should consider if they want to achieve success:

One of the greatest concerns for many small businesses continues to be cash flow, with the most significant negative influence being the time it takes to receive payments which affects how well small businesses can meet their ongoing expenses. Planning ahead and carefully management of cash flow can help ensure cash flow concerns don’t impact on a business’s long-term viability.

The ever-growing digital world continues to reward small businesses with a comprehensive digital strategy. Last year saw the introduction of mobile friendliness as a ranking factor for websites, due to devices like tablets and smartphones becoming the devices of choice for consumers browsing the web. Staying ahead of developments and trends, like making your business’s website is mobile friendly, will ensure your business will stay ahead of the competition.

Succession planning continues to be an issue for small businesses. Family businesses, in particular, usually struggle to plan for the future, particularly in relation to preparing for the next generation. In 2016, small businesses need to spend time planning for the future in areas like succession and business continuity.

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When do you have to pay tax on shares?

Posted on February 20, 2020 by admin

Investing in shares is a popular method of growing your wealth, however, there are tax obligations you need to be aware of to get an accurate sense of how much you’ll need to put aside for your investments.

When you own shares, you need to declare all your dividend income on your tax return. It is possible to claim tax deductions for certain expenses you pay to receive income from your shares. The deductions you are eligible for will depend on if you are carrying on a business of share trading or if you are an individual share investor, but they can include:

Individual share investors cannot claim a deduction for the cost of acquiring shares, such as costs for brokerage and stamp duty, however, they can claim deductions on the prepayment of expenses related to the shares such as internet fees or seminars.

Buying and selling shares can involve capital gains tax (CGT), depending on whether you make a capital gain or a capital loss on your shares. Your capital gains or loss is the difference between the price you paid for the shares and the price you sell them for. If you end up selling your shares for more than you paid for them, then you make a capital gain which may be taxed.

How much CGT you need to pay varies depending on:

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