Maxim Advisors

In our latest blog, we’re tackling a common question asked by business owners: “How do I set wage levels for my business?” From performing role analysis to doing market research and determining your budget, it requires a good deal of thought and regular review. Click to learn more.

Wage Setting: Working out Salary Levels for Your Business Wage setting is a critical aspect of managing a business and ensuring success. Learn what you need to do to come up with the perfect salary range

We want to extend our thanks to the team at Osborn Law for inviting us to their recent breakfast event. The morning included a talk on mental health and wellness by advocate Craig Hamilton and a discussion on current considerations regarding Fair Work by Osborn Law Solicitor Director, Christie Howson.

The morning was informative, and we are grateful for the chance to be part of it.

Maxim movie night!

Gold class cinema experience, food and beverages, a great movie and a chance to bring our family along.

Thanks to Event Cinemas for hosting us and we look forward to doing it again.

We are once again honoured to participate in 'Meals from the Heart' at the Ronald McDonald House Charities (RMHC) Newcastle. Our heartfelt gratitude goes out to the first team of three who will be joining us this year.

Once more, we were reminded of the invaluable support that Ronald McDonald House provides to families during some of their most challenging times. The service they offer, completely free of charge, is truly remarkable.

Last year, they assisted over 600 families without any government funding, which is truly remarkable. However, it is the care, comfort, support and sense of community that is most cherished by those they help.

Participating in this program brings us immense joy, as even a simple meal can make a significant difference. The appreciation we receive and the knowledge that we have made a small contribution to these families is truly heartwarming.

‘Carving out time to work on your business away from the usual routine isn’t just beneficial, it’s essential. It allows you to tackle big-picture issues with a fresh perspective and collaborative vigour.’

Our directors recently got back from this year’s strategy retreat in Melbourne, where they worked and played hard. Learn more about the trip and why you need to step out of your business and do the same in our latest blog.

Another Year, Another Chance to Work on Our Business | Insights Read about our latest director’s business strategy session in Melbourne and learn why working on your business (not in it) is crucial + how to do it

Thanks to our staff members who participated in this year's Dry July initiative. We are also truly grateful for those who generously contributed donations, helping us raise a total of $2,469. Your generous contributions will play a vital role in supporting essential services for individuals battling cancer, as well as their loved ones and caregivers.

The funds collected will be directed towards the Calvary Mater Newcastle Hospital, ensuring that the impact of these donations will directly benefit those within our local community.

Thank you to all those who took part in our Maxim Around the World journey.

Our congratulations to the winners - Geoff for his impressive picture from South America, and Peter and Karen for their lovely snapshot from the UK.

Ugly Christmas sweaters, family portraits, a feast fit for royalty, a cosy space and a visit from Santa...what a day our EOFY celebration was!

Thank you to The Criterion Hotel for hosting us, Meet for feeding us and team Donut Lose for pulling the event together. We are so fortunate to work for a company where the Directors reward our hard work and we are able to 'let our hair down' from time to time. Thank you to Kel, Steve, Scott, Damo, Cass, Waz and Chris for another great Maxim function.

While your main residence is free from tax on sale, a property that was purchased as a rental investment but you then moved into is still subject to capital gains. Read our latest blog to learn how continuing your holding cost record-keeping can reduce the tax you pay.

Turning your rental into your home? Keep recording those holding costs! Did you know that if you turn your rental property into your home, the holding costs while you live it in can reduce CST when you sell? Learn how

Prior to our recent EOFY celebrations, the Directors presented staff with an unexpected Christmas in July gift.

CEO Kellie Wright shared her deep gratitude saying, "We are tremendously thankful to our employees for their unwavering dedication throughout the 2024 financial year. Their commitment, persistence, and deep expertise have been pivotal to Maxim's triumphs during this period. A big thank you to all the members of our team!".

The surprise was met with a wave of smiles and heartfelt appreciation from the staff, clearly indicating how much this gesture of recognition was valued and appreciated by all.

It has recently been reported that the ATO is undertaking more frequent fringe benefits tax audits, and one area of focus is business-owned motor vehicles. Learn more about the risk and how to manage it in our latest blog

FBT and motor vehicles: ATO crackdown increases compliance risk The ATO is currently undertaking more frequent FBT audits, and one area of focus is FBT and motor vehicles. Learn more and manage your risk

Our Dry July has officially started!

Some of our team have given up alcohol for July to raise funds for people affected by cancer, who need our support now, more than ever.

We'd love you to support our team and make a donation. By donating, you'll help provide invaluable services to cancer patients, their families and carers – whether it’s a lift to a life-saving appointment, guidance from a specialist nurse, connection to an informative voice, access to therapy programs or a bed close to treatment.

We have chosen to donate our funds to the Calvary Mater Newcastle Hospital so funds raised will go directly to those in our own community.

Every donation will make a difference, even if it’s what you’d save on your daily coffee. So head to https://buff.ly/3XPj7kS and send any spare change our way.

Thanks in advance for your support!

If you'd like to get involved within your own workplace, it's not too late! A Hunter Business Cancer Alliance Team has been set up to encourage more businesses to get involved. If you'd like further information about this initiative, send us a message or comment below.

Support Maxim Business Advisors this Dry July and make a donation We have signed up for Dry July to raise money for people affected by cancer.

As we wrap up the 2024 financial year, we extend our heartfelt thanks to you, our clients, for your unwavering support. We value your trust in our services and are eager to further strengthen our relationships in the coming year.

We are excited for the promise of the 2025 financial year, as we continue to work together towards even greater achievements. You have played a crucial role in our journey so far, and we look forward to serving you with dedication and commitment in the future.

Thank you for being a part of the Maxim family.

Happy end of financial year

Maxim is participating in this year's Push-up Challenge to raise crucial funds and awareness for mental health issues.

Starting from 10 am today, the first $100k in donations will be matched, doubling the impact of your contribution.

If you are able to, we would greatly appreciate any support you can provide towards our goal of promoting better mental health.

https://buff.ly/3VtF6eo

Thank you for your support.

Donate to level-up mental health in Australia Help raise funds for much-needed mental health services and initiatives by donating to my page. We’re completing The Push-Up Challenge to support this great cause and would love your help to reach our fundraising target.

While current high interest rates are hitting our borrowing capacity hard, there is some relief anticipated, according to the Big Four, says Joel Archer from Ascension Finance. Read our latest guest post to learn more and discover what alternative finance options are available.

How Interest Rates Are Impacting Borrowing Ability |Insights Many of us are feeling the pressure of high interest rates, including when it comes to borrowing. See 2024 predictions + explore finance alternatives.

It’s with great sadness that we share news of the passing of former Forsythes’ Managing Partner Hugh McKensey on 1 June.

Hugh achieved a huge amount throughout his 60-year career. However, it was his big personality, mentorship and friendship that made the greatest impact on everyone who knew him.

Over this past week, many of us have been reminiscing about his time at Forsythes, recalling good times, joking about his straight-down-the-line/what you see is what you get attitude, sharing fond memories and looking back at photos from over the years.

We pass on our deepest condolences to Pat and the McKensey family. It was comforting to join them in remembering and celebrating his life at the funeral and wake on Wednesday.

Farewell, Hugh, you’ll be greatly missed.

The 2024 Bean Counters Ball was recently held in Newcastle.

It was a night of arcade fun, glamour, games and dancing at this year's arcade-themed Bean Counters Ball held at NEX - Newcastle Exhibition & Convention Centre.

Maxim have always been supporters of the ball, and were once again honoured to be there this year.

The event raised more than $30,000 for charity partners, the Hunter TAFE Foundation and Samaritans. We were fortunate enough on the night to hear from recipients who have received direct support from these organisations.

We are grateful to have been there and thank the committee for another unforgettable night.

Discover what documents you need to officially create to formalise your succession plan and what you should consider before putting it to paper.

Learn more in our latest blog, the sixth and final instalment in our series on succession planning.

How to Successfully Document Your Succession Plan| Checklist Discover what documents you need to create to formalise your succession plan and what you should consider before putting it to paper

Congratulations to our Maxim staff members who recently took part in 'Walk to Cambodia'. Walk to Cambodia is a smaller charity but it has a big impact on the local community, helping to educate people to lift themselves up and earn an income with their new skills and knowledge.

We had 15 registered for the team and our target was 1500km. We smashed that with a total of 2563km. An amazing effort!

All up, we raised $1,463 which contributed to the overall event total of $28,322.

Thank you to all those who took part and to those who donated.

Are you looking to start your career and would like the opportunity to gain quality work experience while being supported and trained? Wanting to work in a progressive, reputable and culture focused firm?

Maxim are seeking an enthusiastic Receptionist to join our team.

Join a dynamic accounting and advisory firm and enjoy being part of a fun, supportive team.

We know there are lots of job opportunities out there, but we think we stand out by providing:
- Flexible working/monthly RDO
- Fun, supportive company culture
- Bike storage, showers and towels
- Modern office with kitchen/outdoor deck
- Daily healthy lunch options
- Regular team and social events
- Employee Assistance Program
- 6 monthly Performance Reviews and goal setting

If you want to find out more, check out our ad on Seek to learn more about the role, or shoot us a DM for a confidential chat. We're always happy to answer any questions.

Receptionist - Join our team! Job in Newcastle, Newcastle, Maitland & Hunter NSW - SEEK A fantastic opportunity for a Receptionist to join our inner city firm. Emphasis on culture, relationships and training.

The government recently announced that the concessional and non-concessional contributions caps for superannuation are set to increase. Read our latest blog to learn more, including how you can take advantage of this change.

Changes to super contributions from 1 July 2024|Stay Informed Due to recent wage rises, superannuation contributions caps are set to increase for the 2024-2025 period. See the new figures and learn more

Last night’s Budget was very much focused on providing Australians with relief from cost of living pressures rather than focusing on tax reform. Find out more on our key take-aways from the 2024 budget.

2024 federal budget overview 2024 Australian Federal Budget highlights for business

What a function that was! Thank you to Commonwealth Hotel Newcastle for hosting us in your beautiful private beer garden and to the fabulous Timberlina for providing an hour and a half of non-stop laughs. One we won't forget.

Despite government warnings, in November 2023, over 4,500 myGov scams had been confirmed since the beginning of the year, with thousands of accounts suspended each month due to suspected fraud.

Learn more in our latest blog and see our recommendations on how to prevent it from happening to you.

Think you won’t get caught by a myGov scam? | Maxim Today’s clever scamming schemes can dupe anyone. See how two of our clients got phished + had money stolen, and learn how to protect yourself

The process of estate planning often includes creating wills, trusts, powers of attorney and other documents. It can also involve minimising taxes and other expenses that may arise during the transfer of assets. Learn more in our latest blog.

Estate Planning: Q&As for Small Business Owners| Maxim Advisors Got questions about estate planning and wills? Get all your questions answered in this quick-read Q&A that covers all of the essentials.

We have the privilege of working closely with determined business owners such as Leigh and Margaret of All Four x 4 Spares, Service & Dismantling who demonstrate a genuine passion and determination to enhance their business, continuously working towards achieving and surpassing their business goals.

We are glad you took that leap of faith 8 years ago and have trusted us with your taxation and business advisory since then.

Thank you for your kind words.