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Latest News

RBA Cash Rate Reductions – What it means for your Loan

When the Reserve Bank of Australia (RBA) sets the cash rate down (or up), Australia’s banks have a choice to pass on the new rate as a lower (or higher) interest rate to its customers with loans, including mortgages. With the new lower cash rate, a record low, of 0.75%

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Gift or lend to your child?

Deciding how to help your child/ren with money warrants an exploration of two very different ways to provide them financial assistance. You might choose to gift them money OR you might prefer to enter into a loan agreement with them. Your options will depend upon your own personal financial circumstances

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Proposed Superannuation Guarantee Amnesty – Have you correctly paid your staff super?

The Australian Government has proposed a Superannuation Guarantee (SG) Amnesty which has not yet been enacted by Parliament. What would it mean for you as an employer? Proposed Superannuation Guarantee Amnesty An amnesty would enable employers to self-correct any past non-compliance of their superannuation guarantee to employees. You would be asked to

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Low and Middle Income Earners – Tax Offsets

The Australian Government’s Personal Income Tax Plan changes are now law. As announced in the Federal Budget this year, from 1 July 2019 a new tax offset was created to enable low and middle income-earning Australian residents to receive tax offsets after lodging their tax returns, thereby reducing the tax

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Latest News

  • Changes to overseas working holiday tax

    What is a working holiday maker? A working holiday maker is anyone visiting Australia who holds a visa with the subclass 417 or 462. Backpackers often visit Australia on these types of visa, and make great contributions to our hospitality, tourism, and other industries. What has changed? As of January 1st, 2017, all

  • Employment and the 457 visa

    If you are a business owner struggling to find appropriately skilled employees, or if you live overseas and wish to migrate to Australia, a 457 visa may be the solution. Navigating the visa process can be confusing and heavy with paperwork and jargon – YML Group offers migration business services

  • Exciting new service offering at YML!

    With ever-increasing levels of competition, economic uncertainty, online challenges and change, we know and completely understand the issues facing our business clients.  This is why we have extended our services to include access to world-class business coaches and mentors who can support and guide our SME businesses owners through the common challenges and

  • Right Corporate Structuring

    Are you in the process of setting up your first business venture? You may already have a website and a logo picked out, but there is one very important decision which must be covered. Which business structure is best for you? There are many issues to take into account when making

  • Stamp Duty

    We all know that the housing market in NSW can be intimidating to get into, whether it’s your first home, your first investment – or even your fifth investment. There’s a lot to think about when purchasing a new property, and we’re pleased to share some changes to stamp duty

  • Annual Wage Review

    If you’re a business owner, an employer, or an employee working on an hourly rate, there have been some interesting developments which may impact your bottom line, or take-home pay. Recently the Fair Work Commission (FWC) announced its Annual Wage Review decision, including the subsequent changes that will come into

  • Interest Only Loans

    Whether you’re refinancing an existing home loan, or taking out a mortgage for the first time, the options available for home loans can be overwhelming. Do you need an offset account? Who has the best rates? Can you afford to fix a rate for a short term or long term

  • GOVERNMENT ANNOUNCES CHANGES TO THE WORKING HOLIDAY VISA MAKER PROGRAM

      In an effort to provide more support for Australian farmers and regional economies, The Minister for Immigration, Citizenship and Multicultural Affairs, The Hon David Coleman, MP together with Ministers Coleman and Littleproud announced, in a Media Release on 5th November 2018, changes to the Working Holiday Maker (WHM) visa

  • Six Things that Can Keep a Business from Growing

    Small business owners might start out with a grand vision, but end up falling into day-to-day ruts, and losing their direction and view of the bigger picture. We highlight six things business owners sometimes do that can limit business growth if they are not remedied. Failure to adapt to changing technologies

  • ATO ANNUAL REPORT

    The ATO released its Annual Report late last year. It reports on the Government’s administration and performance for the 2014-2015 Financial Year and provides information about the ATO’s compliance activities and dispute resolution strategies. The number of disputes recorded by the ATO more than doubled in the 2014-15 financial year.

  • How The Cloud and Automation Make Business Management Easier

    All businesses, whether big and small, need to process data, keep records and perform routine tasks – it’s just a fact of life. Doing so manually can be incredibly time consuming and inefficient, so most business owners naturally turn to information technology to perform a lot of the menial and

  • Avoiding the Wealth Creation Con Artists

    Many people in their 50s and older are recognising they are getting closer to retirement age, and may not have enough superannuation to get them through their later years. And it’s no surprise that wealth creation experts are popping up everywhere to help, offering books, seminars and investment options! Some

  • Why Business Owners Should Think Like Futurists

    Innovation in technology is happening at a rapid rate, and there’s no doubt that it is leading to shifts in the way we live from day-to-day. These shifts are only going to happen more quickly in the coming years, bringing in changes in consumer behaviour, and changes to the products

  • Buying Property? Why You Should Care About Interest Rates

    Interest rates are a key consideration for anyone buying a home, either as an owner-occupier or an investor. Why? The lower they are, the more attractive property may become, because your borrowing capacity increases. But if they creep up, so too do your mortgage repayments. The current interest rate environment Rates have fallen

  • Buying property through SMSF – what are the rules?

    If you run a self-managed superannuation fund (SMSF), you can invest part of your super, and borrow money within your super, to purchase either residential or commercial property. Buying property through your super has many advantages and is a great way to build up your retirement savings, however there are

  • 4 reasons to consider refinancing your home loan

    If you’ve had your home loan for a number of years, it’s likely that your personal and financial situation has changed and now could be a good time to investigate the option of refinancing. Here are four reasons to consider refinancing your home loan: Reduce your monthly repayments: Refinancing to a new

  • Big data for small business

        For many years businesses have been collecting and storing large of amounts of information for further analysis. In today’s business environment the collection of data has become ingrained in the way that we work. We collect business transaction, contact and social media information as part and parcel of our

  • Does your super fund provide enough life insurance cover?

    According to research by Lifewise.org - 50% of Industry Super Fund members are under-insured by $100,000 for life insurance. While insurance through super can be cheaper and have certain tax advantages, many funds only provide the basic level of cover, which may not necessarily reflect your individual circumstances.   Types of

  • HIFX - INTERNATIONAL PAYMENT EXPERTLY DONE

      YML Group is proud to announce a new strategic partnership with HiFX, Australasia's leading risk management and foreign currency specialist. HiFX will provide YML Group referred clients with preferential rates of exchange in addition to waiving TT fees on their first transaction: Simply quote reference HAY355 when registering. HiFX are a

  • Succession plan basics for small business

    Even if you’re not planning to retire for many years, it’s still important to have a strategy for exiting your business. According to a recent report undertaken across more than 1,200 Australian SME businesses, 35% of business owners have no ultimate exit plan. The importance of a succession plan Let’s face

  • Budget Alert – Should you put in place a Transition to Retirement strategy?

    With Budget night fast approaching, there is much speculation over changes in tax reform, particularly regarding the Transition to Retirement policy (TTR). It is well worth using this time prior to the Budget weighing up the benefits of putting a TTR in place in order to gain any benefits you

  • FBT 2016 - WHAT YOU SHOULD KNOW

    The Fringe Benefits Tax (FBT) is a tax paid by employers on certain benefits provided to their employees, which may be in addition to their salary or wages package. The FBT year runs from April 1 to March 31, with the 2016 FBT rate raised by 2% to 49%. Changes in

  • How New Laws May Impact Your Use of an Earnout Right when Buying or Selling a Business.

    New legislation was introduced on the 25th February 2016, affecting look-through earnout rights from the 24th April 2015 onwards. It changes the capital gains tax (CGT) treatment on these earnout rights. If you have bought or sold a business after this date using an earnout right, it is valuable to

  • Transfer of Business Assets & Private Company Shares

    As recently confirmed by the NSW Treasurer, the transfer duty of the transfer of business assets has been abolished as of July 1st.This also includes the transfer of private company shares and mortgage duty. What does this mean for you? It provides a great opportunity to take action and restructure business

  • Financial Future Checklist

    Over-40 Financial Future Checklist Are you aged 40 or over? How hard have you thought about your financial future? This is an excellent time for consolidation of all your hard work and assets. Try our over-40 financial security checklist, and see how you measure up. Do you…. Have a savvy financial adviser? Your

  • Matters to Consider Before Setting Up an SMSF

    A Self-Managed Superannuation Fund (SMSF) is essentially a do-it-yourself super plan that can have up to four members. One of the main motivations for setting up an SMSF is to be in control of your own fund and how investments are made. As well as the development of a sound

  • 6 Things that Work Better in The Cloud

    6 Things that Work Better in The Cloud Is all the fuss about cloud computing really an indication of its popularity or worth? A new study by Emergent Research has found that the percentage of small businesses in the US expected to use cloud-based systems will more than double in the

  • Can better inventory management improve business performance for Manufacturers?

    Any manufacturing business has to grapple with two major variables, namely, the demand for its products and the supply of the raw materials required for the manufacturing activity. While on the demand front the quantity of the product demanded and the time of delivery can be uncertain, on the supply

  • Should you register for GST?

    By law you are required to register for GST if: Your business or enterprise has a gross business income of $75 000 or more. Your non-profit organisation has a gross business income of $150 000 per year or more. You provide taxi or limousine services (both owner drivers or if you lease or

  • 5 Top Causes Of Stress for Small Business Owners Open page Preview for 5 Top Causes Of Stress for Small Business Owners

    Buying a business is a big investment, and it can be a nerve-wracking process – especially for a first timer. If you’re thinking of taking the plunge and becoming a business owner, here are five obvious warning signs that an enterprise might be a bigger risk than you’re prepared for. 1.

  • 5 Reasons for Cash Flow Problems in Small Businesses

    Many small businesses run into cash flow issues. Here are five common reasons for cash flow crises, and what can be done to avoid them in your small business. 1. Insufficient margins Insufficient margins can have a big impact on cash flow, and often a business owner will not even realise that

  • Key man insurance, who do you need to insure?

    The most valuable asset for any business is the key people who run it. Loss of staff with essential skills or years of knowledge can impact revenue, profit, goodwill and ultimately the value of the business. Key man insurance compensates for financial losses should the unexpected arise and having adequate

  • Finance options for buying a car

    If you’re looking to purchase a vehicle for your business, there are a number of different finance options available. Before you enter into a finance agreement it’s important to do some research to determine which finance is suitable for your business structure, as well as understanding the implications for cash

  • Buying A Business? 5 Red Flags to Watch Out For

    Buying a business is a big investment, and it can be a nerve-wracking process – especially for a first timer. If you’re thinking of taking the plunge and becoming a business owner, here are five obvious warning signs that an enterprise might be a bigger risk than you’re prepared for. 1.

  • Should You Take Your Small Business National?

    A lot of successful small business owners dream of growing and expanding their enterprises. A logical step for some of them is to take on a national presence, offering services and products in each state. If you’re thinking about taking this step, here are a few things you'll need to consider. How will

  • Upfront costs when buying a home and how you could save

    When buying a home many people focus solely on saving for the deposit. While your deposit is likely to be your biggest financial outlay, it’s only part of the cost of buying a home. We detail the other costs and fees you need to consider and how you could save. Stamp

  • Insourcing vs outsourcing vs co-sourcing

    Insourcing. Outsourcing. Offshoring. Co-Sourcing. You’ve probably heard of these terms. You may even know of companies that are using one or more of them to grow their business. But what do these terms actually mean? And can you take advantage of them to grow your business? Insourcing means performing a business function internally. Many

  • 7 Useful Web-Based Software Programs for SMEs

    The use of web-based or ‘cloud’ software in SMEs is gradually becoming more the norm than otherwise. In fact, many of us have been using the cloud for years – such as through email and more recently through social media. While cloud-based applications for business are still relatively new, they

  • Saving Tax Through Successful Loan Structuring

    One thing that is often over looked when attempting to improve general financial strength is the way that your loans have been structured. Effectively structuring your loans can mean gaining control over your mortgages and avoiding being overwhelmed by investment debt. Below are some quick tips that may be helpful

  • Buy/sell agreements - do you need one?

    What is a Buy/Sell agreement? Generally speaking, a buy/sell agreement refers to a contract drawn up between business partners which will identify a set of ‘trigger events’ where all remaining business partners will buy out a partner’s interest and/or investment in the business. Key trigger events are the death or permanent

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