The 2012/13 financial year has provided many challenges for pharmacy. It has also seemingly laid the road map for pharmacy moving forward. Challenges bring out the best in people and there has been many pharmacists working extremely hard to overcome the issues presented and continue to thrive in pharmacy as it remains a strong industry.
Recently, much has been made by the Australian Investment and Securities Commission (ASIC) and others of property spruikers enticing people to establish Self-Managed Superannuation Funds (SMSF) using the Limited Recourse Borrowing Arrangements (LRBA) inappropriately. The reality is that most investors follow a carefully-considered decision making process when it comes to superannuation investment.
On 25 January 2013 the Full Court of the Federal Court handed down its final decision in the case of ACE Insurance Ltd v Trifunovski [2013] FCAC 3 (‘ACE Insurance’). Upholding the first instance decision that five persons who had been classified as contractors were in fact employees at common law. ACE
Pharmacy Solutions Australia is well placed to comment on what is happening to the prices of pharmacies across the country. We have offices in Melbourne, Sydney and Brisbane and have operated as independent pharmacy business brokers for almost 20 years and transact between 25 and 35 pharmacies per annum. It is now the reality that
Interest rates are at historically low levels providing opportunities for borrowers to establish a worst case interest rate at attractive levels. But a recent spate of improved economic data is indicating that fixed rates may be on the rise in the near future. This leaves borrowers with a limited time to take advantage of low fixed
It is not helpful for the pharmacy industry that there are a couple more groups now in (and about to be in) receivership. As I wrote a few months ago there is pain to be felt this year, but unfortunately this pain is going to be felt by all in the pharmacy industry (not just
Previously we have written about the challenges of buying a pharmacy including some of the financial realities that surround a successful purchase. This article is about structuring for success. Pharmacy business structuring includes a myriad of topics such as ownership, staff mix/skill set, IT policies & disaster recovery plans, partnership agreements, sale/purchase option agreements, insurances
It is evident that survival in the current turbulent times requires a great deal of vigilance on all aspects of your pharmacy business. Extra care with staff costs, greater discipline in your buying and not entertaining any unnecessary expenses are the start of keeping your pharmacy profitable. The one area that continues to be the
The PBS reforms which began in April 2012 are almost a year old. At the time there was much industry wide discussion and opinion on how they would affect Community Pharmacy. Some accounting groups argued the weighted average disclosed price (WADP) reductions would lead immediately to many pharmacy businesses failing while others modelled that initially
Have you ever thought of what would happen to your interest in your pharmacy business if you suddenly died or became permanently disabled? Have you ever wondered what would happen if either of these sudden events happened to your business partner? Could you afford to buy their interest out? Have you and your business partners