Business
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 MoreIn 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 MoreIf 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 MoreIn 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 MoreCould your small business claim a 20% bonus deduction on technology expenditure that supports their digital operations or the digitisation of their operations? The small business technology investment boost is a broad measure and is intended to cover a wide range of business expenses and assets; however, questions may arise when you go to claim. Can […]
Read MoreOne of the most important decisions you have to make before you start is in what structure your business will be operating under. This will be reflected in all facets of your business, so you should spend time understanding the implications of each structure before making a decision. Sole Proprietorship A business structure of […]
Read MoreTax Planning For The EOFY As the financial year comes to a close, now is the time to visit your accountant or tax advisor to discuss tax planning for your business in 2023. At the end of every financial year, business owners should be reviewing and measuring their performance in comparison to the previous year. By […]
Read MoreThere’s been a lot of buzz around superannuation since the 2023-24 Federal Budget was announced. One such buzz involves the concept of ‘payday super’. The government has introduced payday super to avoid the discrepancies that those in lower-paid, casual and insecure work often encounter with their superannuation compared to others in more secure positions due to […]
Read MoreCommon GST Mistakes GST commonly has mistakes made in it which can be costly and require other measures to correct if they aren’t caught in time. Most of these errors are easily avoidable and often relate to the over-claiming of GST credits. Here are the top ten common GST mistakes that can be made. Residential […]
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Business analysis is used if the aim of the project is that an existing business will be improved and thus likely to change. We start by describing the current situation and then create a scenario for the future. It is important to agree on the starting position in order to measure the effect of the […]
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