MD Trimmer & Co Blog

Trust Tax Return Compliance: A Guide

By Tori Evans | June 21, 2024 | 0 Comments

Managing a trust comes with its share of responsibilities, especially regarding tax compliance. To assist trustees and administrators, the ATO has provided a checklist that can be used to streamline the tax process. This is a crucial tool for ensuring that the trust’s affairs are managed efficiently and effectively in accordance with tax regulations. Let’s […] Read More

Millennial & Gen Z – Preparing For The Future With Superannuation

By Tori Evans | June 7, 2024 | 0 Comments

Millennials and Gen Z are facing some of the most difficult challenges when it comes to financial priorities. Between paying off HECS debts/HELP loans and saving for a first home, these immediate concerns often overshadow long-term goals like retirement planning. In the midst of these immediate concerns, it’s easy to overlook long-term goals like retirement […] Read More

The Instant Asset Write-Off Continues To The 2024-25 Financial Year

By Tori Evans | May 31, 2024 | 0 Comments

In a move aimed at bolstering small business cash flow and reducing compliance costs, the Australian government has announced an extension of the $20,000 instant asset write-off for another 12 months. This extension, part of the 2024–25 Budget released on 14 May 2024, will see the measure continue until 30 June 2025. This initiative allows […] Read More

What Contributions Can Be Made To Superannuation Funds?

By Tori Evans | May 3, 2024 | 0 Comments

As retirement looms, ensuring a comfortable and secure future becomes a top priority for many individuals. One essential aspect of this preparation is maximising superannuation contributions. With the right strategies, you can harness the power of compounding interest and investment growth to build a substantial nest egg in your superannuation for your golden years. Superannuation, […] Read More

Understanding Fringe Benefits Tax (FBT) And What It Covers

By Tori Evans | April 26, 2024 | 0 Comments

For businesses in Australia, providing fringe benefits to employees can be a valuable way to attract and retain talent, as well as incentivise performance. However, employers need to understand their obligations regarding Fringe Benefits Tax (FBT). The Australian Taxation Office (ATO) administers FBT, a tax on certain non-cash benefits provided to employees in connection with […] Read More

No More Shortcuts: Methods You Can Use To Claim WFH Expenses

By Tori Evans | March 28, 2024 | 0 Comments

Ensure you’re up to date on how to claim your working-from-home expenses! As the business landscape shifts back and forth between office, hybrid and home-based work opportunities, it’s important to remember what methods are available to you when it comes to claiming. If part of your role allows you to work from home, you may […] Read More

Crafting Your Own New Year’s Business Resolution In 2024

By Tori Evans | February 21, 2024 | 0 Comments

With business operations underway, a new calendar year presents a perfect opportunity for entrepreneurs and business professionals to reflect on the past and set the stage for future success. Crafting a meaningful business resolution is not just about setting lofty goals; it’s about creating a plan that resonates with your unique aspirations and challenges. So, how […] Read More

How The Small Business CGT Concessions Could Boost Your Superannuation

By Tori Evans | February 2, 2024 | 0 Comments

If you’re a small business owner gearing up for retirement, selling your business can be a strategic move to give your nest egg that final boost. However, navigating the intricacies of selling a business requires careful consideration, especially when it comes to contributing the sale proceeds to your superannuation fund. Let’s explore essential considerations and […] Read More

What Is A Proprietary Limited Company?

By Tori Evans | December 5, 2023 | 0 Comments

In Australia, the Pty Ltd Company (proprietary limited company) is one of the most popular business structures chosen by entrepreneurs and business owners. Pty Ltd companies offer distinct advantages and certain disadvantages that individuals should carefully consider when determining the most suitable structure for their enterprise. Benefits of a Pty Ltd Company: Limited Liability: The […] Read More

5 Superannuation Misconceptions Australians Have…

By Tori Evans | November 24, 2023 | 0 Comments

Superannuation, often called ‘super,’ is a vital part of Australia’s financial landscape. It’s a retirement savings system that’s intended to provide financial security in your golden years. However, despite its widespread use and importance, there are several common misconceptions about superannuation that many Australians hold. Let’s shed light on some of these misconceptions and provide clarity on […] Read More

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