FORTUNA ADVISORY WEBINAR SERIES

Through our COVID-19 response initiatives, the team at Fortuna Advisory has hosted and been part of several webinars with leading experts from the industry to give you an understanding about some of the most pressing topics around COVID-19. We want to give you the chance to view the webinar recordings at your ease and give you access of the information that might help you or your business.

 

On-Demand

The Fortuna Insights Seminar 2020

Post COVID-19 Funding

Are you ready for what will happen next when the government funding stops? Melvyn Gilbert presents on how to anticipate trends and proactively plan ensuring that your business is positioned for success by identifying opportunities and risks when the next economic wave hits WA: post-government funding.

Key Take-Aways:

• Nip the bud on your business and get it on track before the stimulus ends

• Prepare for opportunities in the next economic wave: Post CoVid19 funding

• Be aware of the financial and non financial risks that will be present and how to respond to them

Presented by: Melvyn Gilbert, Associate Director

A qualified CPA with 2 Masters degrees and 15 years of international experience, Melvyn specializes in Business Strategies and Compliance, Accounting & Australian Tax. Some of his Australian career highlights include:

• IABCA Young Professional Award 2019 (National) finalist; acknowledgement received from Hon Scott Morison MP, Prime Minister of Australia

• Integrated Thinking and development of Sustainable Business Structures

• Contribution to WA Parliamentary Committee on 'Enquiry into Economic Relationship between WA and the Republic of India'

• Former Adjunct Lecturer (Accounting), Edith Cowan University

• Director -Treasurer of Fortuna Foundation, an ACNC Registered and DGR approved Not-for-Profit

• 'National Youth Influencer 2020' with strong connections nationally and internationally

• Public speaking at various universities, business associations/ councils and industry/ professional bodies

Fortuna Insights Seminar 2020 - Post COVID19 Funding

Standard vs Testamentary Wills: Which one Will you choose?

Standard vs Testamentary Wills - is your will comprehensive and effective? Nathan Sgro, Lawyer at Fortuna Legal, talks about what is required to ensure that your legacy is passed on just as you intended.
Key Take-Aways:
 
- the pitfalls of preparing post-office or home made wills and the benefits of seeking the advice of a qualified Estate Planning professional who can guide you in preparing a Will that is tailored to your personal and financial circumstances.
 
- why a “one size fits all” approach to your Estate Planning is a dangerous exercise. - the features and benefits of a standard will and a more complex testamentary trust will.
 
Presented by: Nathan Sgro, Lawyer Nathan was admitted to practice in the Supreme Court of Western Australia in 2011.
 
He passionately works closely with his clients to achieve a broad range of legal and commercial objectives. He is especially skilled in providing clients with pragmatic solutions and explaining legal concepts in plain language. Having worked in a number of reputable boutique and medium size law firms in Western Australia, Nathan has considerable experience across a diverse range of practice areas including Commercial Contracts, Business Acquisitions, Intellectual Property, Estate Planning, Estate Administration and Property.
 
Fortuna Insights Seminar -  Standard vs Testamentary Wills_ Which one Will you choose_

Shift in thinking: How to manage personal wealth during COVID-19

With the next economic wave expected to hit when the government funding stops, it is helpful to understand the shifts that are taking place in the market and to take advantage of opportunities to grow your wealth.
 
Key Take-Aways:
 
- The type of changes that people are making to their spending habits to help loosen the budget belt
 
- What we have seen with clients portfolio and their concerns around the market volatility that COVID has presented
- Some of the strategies you can implement to take advantage of the current climate.
 
Presented by: Louise Davies, Senior Financial Advisor
Louise has been in the financial services industry since 2004. She thrives on providing holistic advice to her clients and enjoys guiding them along the journey of each life stage. Louise has a Bachelor of Commerce degree majoring in Financial Planning and Accounting. Over her career, Louise has been a highly sought guest speaker at many public events and in the media, some of which include; Today Tonight, The Every Women Expo, Secrets in the Garden, The Sattler Files and BumpWA.
 
The Fortuna Insights Seminar - Shift in thinking_ How to manage personal wealth during COVID19
 

How to finance your business and alternative measures

All around us, we expect to see many businesses challenged with cashflow and funding issues when the government funding stops. With the next economic wave expected to hit us, we would like to help our clients to best prepare for this change. This video explains the shifts that are taking place in the market and to know what your alternatives are so that you can effectively manage your business.

Key Take-Aways:

- What are some ways that businesses are currently financing their operations?

- What are some alternative methods and strategies that you can consider to raise finance?

- If you were to find opportunities in acquisition and mergers, how can you be best prepared to fund this venture?

Presented by: Eric Moroni, Broking Consultant

Eric has over 30 years of working experience in corporate roles within the Banking & Financial Services sector, which allows him to provide tailored financial solutions based on understanding client needs now and into the future. His corporate experience includes working as WA State Manager for Commercial Broking at the Commonwealth Bank and more recently at Bankwest as the Regional Sales Manager for Commercial Acquisition. With this experience, he determines the best banking options available for clients within the ever-changing financial services market.

The Fortuna Insights Seminar - How to finance your business and alternative measures

Cashflow Management, Key Financial Controls & Funding: Construction Industry

Effective solutions for builders/large trades facing with challenges in ensuring that projects meet time and financial constraints. Historically, the construction industry has been a backbone of the economy of Western Australia and the recently announced home stimulus package has been received with much enthusiasm.

However, builders and large trades are often faced with challenges in ensuring that their projects meet time and financial constraints. To do this effectively, we will address key challenges in this webinar.

Key Take-Aways:

- What are some cashflow management issues pertinent in the industry?

- How do you ensure that your project does not over-run on costs?

- What are key financial indicators that project managers must keep a watchful eye on?

- How do you put in control measures to ensure that your project is ON budget?

- How can technology such as BuildXact help deliver cost controls and projections effectively for optimum job estimation and project management?

Our expert speakers delivered a webinar that will truly change the way you manage your projects and provide great ideas and insights to help you be on budget and keep you profitable.

BuildXact Webinar

JobKeeper 2 0 - Expert Updates with LIVE Q&A

The Federal Government has announced extensions of the JobKeeper payment to 28 March 2021 and there are many questions surrounding the updated legislation. Join us on our FREE webinar as we present updates on the newly tightened Australian government stimulus package.

Key Take-Aways:

- Are you or your employees eligible for the tightened JobKeeper 2.0?

- How the restricted eligibility rules (turnover reduction) apply

- How to determine the JobKeeper payment amount for employees

- How the new decline in turnover tests apply beyond September

- What are the changed JobKeeper payment rates?

- How do I continue to claim?

The recording of the LIVE Q&As are available at the end of the presentation.

Background of Fortuna Presenters:

Stephen Gethin, Fortuna Legal

Stephen specialises in tax, business, property and self-managed superannuation law. He has over 16 years’ major law firm and international ASX-listed company experience. He excels in structuring and documenting complex transactions, particularly where challenging tax issues are involved. His “in house” experience has given him a deep understanding of the issues faced by business and the ability to explain complex legal issues in clear language.

Dinesh Aggarwal, FCPA, CA, CMA, FTI, Fortuna Advisors

Honoured as one of Australia’s top three SME Tax Advisers of the Year 2015 by the Tax Institute, Dinesh is also winner of the prestigious 40 Under 40 Young Business Leader 2012 and 2013 titles by CPA Australia. With about 20 years of experience in Accounting, Finance and Business Management in top corporate positions, both in Australia and overseas, he is a well-known professional, rendering advice to clients in Australia and overseas on tax matters and business services. Dinesh not only manages major international clients but also helps new clients set up businesses in Australia. Dinesh is the former Chairman of the Public Practice committee of CPA Western Australia, and is currently a member of CPA Australia Public Practice Board.

Edited JobKeeper Webinar 2.0

- Demystifying the Home Owner Grants & Home Builders Grants

The Australian Federal and Western Australian State governments have recently released a stimulus package to aid the construction industry. Our Finance and Legal Experts presented a LIVE webinar followed by a Q&A section to cover the most important aspects of the Home Ownership and Home Builders Grants available.

Key Take-Aways:

- Home Builders Grant: what does the stimulus really mean?

- What are the different Federal and Local Grants available?

- What are the differences between the Federal and Local Grants?

- How do you best consider financing by combining FHOG + Home Builders Grant?

- How can I maximise my borrowing potential?

- How do I know what my borrowing capacity is? What do lenders look for?

- What are some key legal considerations to consider?

Hosted by Fortuna's Managing Director, Dinesh Aggarwal, our team of experts includes Eric Maroni, Head of Smart Finance/ Mortgage Broking and Stephen Gethin, Director, Fortuna Legal / Lawyer / Migration Agent.

Demystifying the Home Owner Grants & Home Builders Grants

- Rebuilding Your Business - Reposition, Pivot, Collaboration Strategies Webinar 

This webinar which features a LIVE interview by Shil Shanghavi, Founder & Director of Chatterbox Public Speaking with Dinesh Aggarwal, Managing Director of Fortuna Advisory Group explores on how businesses can strengthen and grow their businesses.

The webinar "Rebuilding Your Business" outlines effective strategies during these extraordinary times, and discusses how to engage one of these much discussed strategies: reposition, pivot & collaboration.

Key Take-Aways include:

• The difference between pivoting and repositioning in regards to business infrastructure and market opportunities

• How to apply the different strategies to business opportunities and times of change

• How to use collaboration as a business mitigation strategy so that you can tap into markets without a huge initial overlay of risk

• What strategies to consider for expansion and diversification

• What is post-Covid19 going to look like for businesses Interesting case studies for various industries are presented.

Learn from multinational and leading brands as well as local Australian businesses affected by the COVID in the trades, catering, building & construction and personal fitness industries.

Rebuilding our business - Edited

- Year-End Tax Planning Strategies 

Strategy 1 - Instant Asset Write-Off of $150,000

Tax planning before the financial year-end is a crucial time for businesses. During this time businesses can adopt certain strategies and plan methodologies available in the tax legislation to legitimately reduce tax. Dinesh Aggarwal, the Managing Director and Founder of The Fortuna Advisory Group will take you through the top five tax planning strategies.

Here's strategy one that's about the Instant Asset Write-Off of $150,000 and Accelerated Depreciation.

Currently, this is the most talked about recent strategy due to the concessions allowed. This is a concession available for the purchase of multiple assets (e.g. plant, equipment, vehicle etc) and you can make a claim for each asset, both new and second hand. There are certain categories of asset that are exempt, explained in this webinar.

The various Eligibility Criteria discussed include assets that are purchased, first used and/or installed between 12 March to 30 June. However, the Treasury has announced the extension of the write off until 31 December 2020, which covers another 6 additional month. For assets purchased before 12 March, you can claim under an earlier threshold of up to $30,000 (1 July 2019 to 12 March 2020). Other examples discussed include the luxury car limit and what happens if you purchase an asset above $150,000 or if the asset was delivered after 30 June 2020.

Strategy 1 (Edited V2)-1

Strategy 2 - Contribution into your Superannuation Fund

Tax planning before the financial year-end is a crucial time for businesses. During this time businesses can adopt certain strategies and plan methodologies available in the tax legislation to legitimately reduce tax. Dinesh Aggarwal, the Managing Director and Founder of The Fortuna Advisory Group will take you through the top five tax planning strategies

Strategy 2: Contribution to the SuperFund So how do you use your contributions to your superannuation fund to get the best tax outcome?

Firstly, we need to distinguish between:

- Concessional contribution: this is when an employee contributes to the Superfund on a PRE-TAX income (above the mandatory Superfund Employer Contribution of 9.5%).

- Non concessional contribution: this is when you make a a POST TAX contribution to your Superfund.

The additional concessional contribution is voluntary from the Employer or Employee of up to a cap of $25,000 and must be made and received by 30 June 2020.

Now, an employee can make a lump sum contribution to the superfund directly and there is no need to go through the employer. This is useful if you have a sudden gain in received dividends, a bonus, a capital gain on a sale of an asset etc.

In addition to that, any unused Super cap fund of $25,000 can be carried forward for 5 years provided that the super balance is less than $500,000.

Another exciting new change is that there is no longer a 10% Income Test Applicable. For those earning between $38,000 to $53,564, you can make an after-tax contribution where the government will make a 50% co-contribution of up to $500.

 

Strategy 2

 

Strategy 3 - Prepay your expenses and move incomes between financial years legitimately

Tax planning before the financial year-end is a crucial time for businesses. During this time businesses can adopt certain strategies and plan methodologies available in the tax legislation to legitimately reduce tax. Dinesh Aggarwal, the Managing Director and Founder of The Fortuna Advisory Group will take you through the top five tax planning strategies.
 
Strategy 3: Pre-Pay your Expenses and Move Incomes Between Financial Years Legitimately.
 
If there is an interest payment on your business loan or investment property, you can prepay your interest loan this year and make a claim in this Financial Year. However, it is highly recommended that you speak to your bank in advance to allow them enough time by providing them notice of your intention. You may even get a discount on the prepayment of interest loan but this is not applicable for fixed rate loans unless it is converted to a variable loan where break-fee and other financial costs should be considered.
 
Some popular expenses include prepayment of rent for commercial tenants and insurances. This will also bear into consideration when the best time is for issuing invoice for goods or deposits. Dividends are taxed when they are received not on paid dividends so can defer your income if this affects your tax margins.
 
In addition, it is important to time the sale of a profitable asset with a loss bearing asset. It is advisable to conduct the transaction, either in the same FY or sell the asset making losses in the current FY (in order to carry forward the loss) and utilise the loss for the following year to offset any future asset gains.
 
An interesting discussion in this webinar is on the cashflow boost for the COVID economic stimulus.

Strategy 4 - Bad debts and trading stock

Tax planning before the financial year-end is a crucial time for businesses. During this time businesses can adopt certain strategies and plan methodologies available in the tax legislation to legitimately reduce tax. Dinesh Aggarwal, the Managing Director and Founder of The Fortuna Advisory Group will take you through the top five tax planning strategies.
 
Strategy 4: Bad Debts and Trading Stock Strategy 4 is about how you can look at your bad debts and trading stock, or your accounts receivable and trading stock and see how you can utilise some of the deductions this financial year-end.
 
As there are various stock valuation methods such as cost or market value, you can utilise the appropriate value method for the best outcome.
 
The treatment of Stock in Transit, is also discussed. It is also advisable to review the account receivable list and if there are debtors who are unlikely to pay, they should be written off as a bad debt. You can then claim the deduction and the GST on it.
 
If the debt is recovered later on, it may be added back as a taxable income in the applicable year.

- In Conversation with Fortuna Advisory and Chatterbox

Watch Dinesh Aggarwal, Founder and MD of The Fortuna Advisory Group talking about Business Strategies, how brands can thrive through COVID-19, and much more. 
This interview series was conducted by Shil Shanghavi, Chatterchief of ChatterBox Public Speaking. 

Part 1 of 4- The Fortuna Legacy - "We stay with you for life". 

Along with providing a one-stop solution for all your commercial needs, we use our distinctive culture based on our organisational values to deliver exceptional services and ensure that you continue your legacy.

Through the journey of life, from a single person to being a couple and then to having a family, we ensure that we walk with you through all your major transitions - be it your risk plans with the right insurances, financing needs, business advisory, tax planning, wealth management, investment strategies, SMSF and business exit strategies - we journey with you so that you will leave a lasting legacy beyond your lifetime.

The Fortuna Legacy - Part 1 of 4

Part 2 of 4- Pivot Vs Repositioning  

The word of the month - Pivot. During COVID-19, we have seen many businesses use the word "Pivot" as a business term that is mentioned quite often. What does it mean for a business? Find out the difference between Pivot and Repositioning.

Although, "Pivot" is used commonly amongst startups and entrepreneurs, it is particularly important through a crisis to ensure the relevancy of product to market changes. A pivot generally takes place when a company makes a fundamental shift to their business after determining (usually through market research) that their product needs are tailored to their targeted market.

Repositioning is a shift in how to position your brand in the market after a phase of market research. Brand repositioning is an important exercise that should take place after a crisis to ensure continued relevancy to the market place.

Both Pivoting and Repositioning are critical for tapping into new opportunities in the market, e.g. moving from one product phase into another and trying to use current business infrastructure to create a product that the market wants.

Pivot Vs Repositioning

Part 3 of 4- The Value of Collaboration 

Are you making use of the opportunities? Find out how collaboration is going to be key in how businesses run in the future.

Collaboration is key in the post COVID19 world as this gives businesses the opportunity to tap into markets without a huge initial overlay of risk.

Companies considering expansion and diversification through business analysis should first consider collaboration and a business risk mitigation strategy. The value that collaboration can deliver is allowing the company to still have a larger market share and enhancing their core competencies while partnering with other businesses to deliver a higher value offering - all whilst growing their individual niches.

Business example case study: Xero's expansion internationally.

The Value of Collaboration

Part 4 of 4- The New Norm

What’s Post-COVID going to look like for businesses? What is the new normal?

During this COVID19 transformational phase, the world is still learning new adaption strategies however it is evident that business risk mitigation processes and plans should be factored into the operational sustainability planning.

Another key learning is that the adaption of digital technology - for example, meetings have been redefined through new online platforms. This has also triggered a change in the thought processes in senior management level, reflecting the wiser use of the business capital and ensuring leanness in business operations.

Post Covid-19

- Business Strategies to Survive & Thrive 

Date and time: 1 April 2020 from 4:30 pm – 6:30 pm AWST

Key Takeaways:

  • Definitive actions you can take now to survive through crisis
  • How to control costs and manage cash flow
  • What relief measures to look for and how to maximise tax benefits
  • What opportunities are emerging and to keep an eye for
  • Evolving business models and what’s the new future

- JobKeeper Legislation Passed -Final Details Revealed

Date and time: 9 April, 2:00 PM-3:00 PM AWST

The JobKeeper legislation has just been passed and we received a large number of registrations as well as questions that have been addressed in the webinar.

Top Questions to be Addressed include: -

  • How will my eligibility "turnover reduction" be determined?
  • Do I need to compare monthly or quarterly revenue for eligibility?
  • What if I am self-employed (non sole trader) operating as a partnership, trust or a company?
  • What if my turnover fluctuates substantially and trends are difficult to establish?
In response to the interest, Stephen Gethin and Dinesh Aggarwal of Fortuna Advisory Group are the panelists. Facilitated by Peter Westlund, our insightful sought-after speakers will provide a wealth of experience that you will definitely benefit from.

- Business Continuity Planning with Wanneroo Business Association (WBA)

Date and time: 7 April 2020

Business Continuity Planning is vital in times of crisis in order to manage uncertainties well. Our expert finance and legal team will help you prepare for these challenging season.
 
Key takeaways include:
- Building a "War Chest"
- Scenario Planning Strategies for your Cashflow
- Stimulus Packages Available and Your Entitlements
- What New Opportunities Lie Ahead
- Immediate Asset Protection
- Finance & Funding Options
- Supply Chain Management

- Exclusive for Family Day Care Educators - JobKeeper Legislation Webinar

Date and time: 17 April from 2:00 PM - 3:30 PM AWST

As the Parliament has passed the legislation to place JobKeeper into effect, we unpacked some on Friday (17 April 2020) and answered your questions including when and how much money a business owner can receive from the program.

Key Takeaways:

  1. What payments can I claim for myself as a business owner?
  2. What payments can I claim for my employees?
  3. When will the money be paid?
  4. Is my business eligible?
  5. How do I claim?
  6. How will my eligibility (turnover reduction) be determined?
The webinar is hosted by Dinesh Aggarwal- who's also a co-panelist to our insightful sought-after speaker, Stephen Gethin.

Archive

Valuable Information for Start Ups

  • Funding Options for Startups
  • Company Structure Options for Startups