Business Uncut Reuben Bergola

Join hosts Ana Lukac and Callum Farrugia from New Wave Accountants as they sit down with esteemed lawyer Jameson Smith to unravel the critical importance of shareholder agreements in small businesses. In this insightful episode, you'll learn the basics of legal protections, how to safeguard your business interests, and why a robust shareholder agreement is a must-have for any small business owner. Don't miss this essential discussion packed with actionable advice and expert insights that can help you secure the future of your business. Tune in now and elevate your business knowledge! **Topics Covered:** - Importance of shareholder agreements - Key legal protections for small businesses - Steps to secure your business interests - Expert tips from lawyer Jameson Smith Subscribe to our channel for more expert business advice and insights! www.new-wave.com.au

Reuben and Callum delve into crucial updates and strategies for 2024 tax planning in Australia. They uncover the secrets to minimizing taxes, explain recent changes in ATO debt management, and demystify anti-avoidance measures. If you're a small business owner seeking clarity and a way to stay ahead in the ever-evolving tax landscape, this episode of *Business Uncut* provides actionable insights and expert advice tailored for your success.

In this revealing episode of Business Uncut, Shaneel, CFO and Partner of New Ways Accounting, and Ana, the Practice Manager, unravel the intriguing concept of a 30-hour work week strategy they have successfully adopted. They discuss how this unprecedented initiative boosts productivity, improves employee quality of life, and results in a happier and healthier workforce. This insightful conversation shines a light on the obstacles faced in implementing this strategy, the positives that came out of it, and the long-term benefits it holds for businesses and employees alike.
This episode provides details about a Swedish study on work cycle productivity that inspired the concept. Anna explains how this study, coupled with her own observations on her productivity levels, led to the groundbreaking decision for New Ways Accounting. She discloses the unexpected benefits such as improved staff retention and reduction of sick leaves, which, in their view, outweigh the potential decrease in profits.
Shaneel and Ana also delve into the surprising experience of implementing this strategy with their offshore team in the Philippines. They reveal how the employees showed no notable decrease in output or budget management despite the reduction in working hours, resulting in an overall improvement in work efficiency and satisfaction.
An exploration into the cultural and organizational factors influencing their offshore team, as well as the potential role of AI and automation in facilitating similar strategies in the future, adds to the intrigue of this conversation. This unique episode, indispensable for business leaders and managers, presents a clear picture of the benefits of workplace change and offers insightful tips for accomplishing it.

In this episode of Business Uncut, Ana, a Practice Manager at New Wave, is joined by Shaneel, New Wave's CFO, to discuss the intricacies of creating efficient bonus schemes in businesses. They discuss the evolution of such systems in their own company, moving from solely team-based or individual performance-based schemes to a hybrid model that caters to a broader range of employee motivations.
Shaneel emphasises the importance of transparently presenting the bonus criteria and targets to the employees. Such an approach encourages team members to exert extra effort towards accomplishing goals because they clearly understand the rewards. Ana and Shanil also share experiences of how certain candidates can feel demotivated and confused when their current employers provide poorly explained or non-existent incentive structures.
The discourse dives deeper into ensuring the company's net profit isn't significantly impacted by such schemes. Shaneel insists on crafting a bonus structure that appropriately factors in the business's cash flow projection, whether it is based on revenue targets or net profit margins. The conversation also explores the possibility of extending bonus schemes to non-chargeable staff like admin workers, with links to non-financial KPIs, like job turnaround time or client retention.
The two experts proceed to talk about the rollout of new bonus schemes, stressing the need for clarity and understanding from the managers to the rest of the team. They also discuss potential bonus structures for different industries, such as construction, where profit and project turnaround times may take precedence. The discussion wraps up with important details about cash bonuses, the tax implications and the need for absolute transparency.

With the ever-changing tax rules in Australia, it is hard to navigate and find the right advice on how to ensure that you are minimising the tax on your hard-earned profits!

In this episode, Reuben Bergola, Managing Director of New Wave Accountants and host of Business Uncut, sits down with Gold Coast Accountants Roland and Callum to discuss the important issues around Tax Planning and Minimisation for Small Businesses in 2023. 

To get in touch with Callum, Roland or a Gold Coast Tax Accountant and to book in a free initial consultation, call our office on 07 5504 1999 or visit our website new-wave.com.au

There are four commonly used business structures in Australia: Sole trader, Partnership, Company and Trust. We recommend that all Business Owners take the time to understand the responsibilities of each structure because the structure you choose can have a big impact on the tax you're liable to pay, asset protection and costs.
Perhaps you are set up as a Sole trader but now you're business has blown up, and is growing more quickly than anticipated? Maybe you're running multiple different businesses under the same entity? or maybe you haven't considered how your assets would be protected if legal action was to be taken against you... how do you ensure that your assets remain safe? 
In this episode, host Reuben Bergola, catches up with Rachel Hunter, Client Manager at New Wave with over 19 years of experience in the industry, to break down the different types of entity structures, and discuss the most common mistakes people make with structures. They run through the steps of choosing a "Risk-Taker" & an "Asset Holder" in your chosen structure, and how to best separate your business risks from your business assets. 
As Business Advisors, we want to make sure that your business works for you, not just right now, but in the long run too. If you're unsure about what structure is best for you, don't delay in getting in touch with Rachel, Reuben or one of our Business Advisors today. Call our office on 07 5504 1999 or visit or website https://www.new-wave.com.au/ We offer a free 30-minute consultation.