Lowering your selling prices will increase sales when your product or service has an elastic demand curve i.e. when you slightly lower your prices, volume goes up substantially. This will be a profitable strategy if lower prices produce greater gross profits due to increased sales volume even though the profit per unit has fallen. …
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Capital city: Pape’ete Currency: CFP franc (XPF) Population: 268,270 Language: French GDP: …
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Proprietary limited companies are the most common company structure in Australia and account for 98.5% of all companies. Generally, they are the most appropriate company structure for small businesses. A Proprietary Limited company (also known as a Pty Ltd company), cannot raise capital from the public, and is restricted to a maximum 50 non- employee…
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Minimum 10% of practice fees Within 12 months, we need to achieve tax planning revenue equivalent to 10% of the practice’s revenue. Achieving this benchmark provides us with the revenue, confidence and motivation to continue growing this new service. Over the last five years many accountants have embraced the ‘one stop shop’ concept and added…
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Upselling can involve marketing more profitable services or products, or just exposing the customer to other options that were not considered. Upselling is more successful when the up sellers know more about the individual customer and understands what the customer values and wants. This information includes the customer's background, budget, preferences, interests, and previous buyer…
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An Employee Remuneration Trust (ERT) arrangement involves a trust being established to facilitate the provision of payments and/or other benefits to employees of an employer. The trustees provide the benefits at the direction of the employer. This strategy is useful to retain and reward employees that are critical and important to the business’s success. A…
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Our Taxfitness tax strategy database now boasts 250 tax strategies to help your clients structure their affairs to legally reduce their tax liability and make savings. The database explains how 250 different tax strategies actually work (i.e. what the tax strategy is, when to use the strategy, average tax deductions created by the strategy, and the strategy…
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Minimum 10% of practice fees. Within 12 months, we need to achieve tax planning revenue equivalent to 10% of the practice’s revenue. Achieving this benchmark provides us with the revenue, confidence and motivation to continue growing this new service. Over the last five years many accountants have embraced the ‘one stop shop’ concept and added financial…
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A partnership of discretionary trusts is a partnership where each partner is a discretionary trust. This is a good structure for unrelated parties wanting to operate a business or invest together because: Provides each partner with a fixed interest in the partnership; say 50% each. Allows access to the CGT small business concessions. Provides…
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Capital city: Suva Currency: Fijian dollar (FJD) Population: 898,760 Language: English and iTaukei GDP: …
Read More »"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2