Renee Bettenay, Director of Harris Black, recently participated in two significant industry events hosted by her client, MJ Sturgess & Co Pty Ltd, a family-owned business dedicated to fostering improvement not just within their own operations but also across the floorcovering industry they serve.

At the MJS FloorTec Conference, which brought together contractors from the floorcovering industry, Renee presented the findings of a group diagnostic aimed at addressing industry concerns and opportunities. She shed light on the industry’s outlook and emphasized the importance of “the Power of One” in business management. Renee also underscored the significance of succession planning for businesses, highlighting its pivotal role in ensuring the longevity and sustainability of businesses and providing practical steps for attendees to take back to their businesses.  The event which was part of MJS Partners In Business initiative was well attended by 165 people in the floorcovering industry.

Additionally, at the MJS National Sales Conference, Renee led a three-hour workshop focused on identifying waste within the business and understanding the impact of small improvements, highlighting the importance of even a 1% enhancement in business operations. The workshop resulted in the development of 90-day action plans for each group, enabling them to implement necessary improvements upon returning to their day-to-day roles within the business.

Renee Bettenay’s contributions to these conferences provided attendees with practical strategies and insights to enhance their businesses’ efficiency and sustainability.

On the 15th and 16th of February 2024, tax professionals, policy experts, and business leaders convened at the Tax Institute’s Private Business Tax Retreat. This exclusive gathering provided a platform for insightful discussions, strategic insights, and deep dives into the ever-evolving landscape of taxation affecting private businesses. Harris Black attended the sessions, and have provided a few highlights from the event.

Cooper Grace Ward Lawyers delved into unlocking small business capital gains tax (CGT) concessions. They provided invaluable insights into the intricacies of CGT concessions, emphasizing the importance of written choice for the retirement exemption. Attendees gained a deeper understanding of the crucial dates to consider when utilizing the active asset test and the necessity for extensive workings behind the $6 million net assets test. This session shed light on practical strategies for utilising CGT concessions while ensuring compliance with regulatory requirements.

Sladen Legal discussed the impact of rollovers on tax consolidation, offering insights into the complexities and implications of these transactions. They also provided guidance on scrip for scrip rollover relief and highlighted important updates to tax determinations, equipping attendees with valuable knowledge to navigate rollover scenarios effectively.

Other hot topics such as tax consolidation provided valuable insights into tax structures and streamlining compliance processes. Discussions on capital raising and management explored strategies for accessing capital while managing tax implications effectively. Furthermore, sessions on Division 7A loans addressed compliance challenges and best practices for managing shareholder loans.

In conclusion, the Tax Institute’s Private Business Tax Retreat was a resounding success, providing attendees with invaluable insights, strategies, and connections to thrive in today’s dynamic tax environment. We look forward to the next Private Business Tax Retreat in May 2024 to gain insights into AI, payroll tax grouping, unit trusts and much more.

Harris Black recently hosted its bi-annual ladies lunch at Babylon, aiming to support and connect female business leaders. The event brought together women from diverse professional backgrounds to share experiences and insights in a supportive environment. Attendees enjoyed the opportunity to network over a meal, exchanging stories of trials, tribulations, and triumphs, both in the business world and in their personal lives. The success of the gathering highlights the importance of fostering community and empowerment among women in business. As the afternoon concluded, attendees departed with renewed connections and a sense of camaraderie.

Stay tuned for future events from Harris Black dedicated to supporting women’s success.