Are Division 7A loans bad? This query has echoed louder in the financial corridors with the recent uptick in interest rates. This article unpacks the intricacies and ramifications of Division 7A loans, shedding light on their real impact amidst evolving financial landscapes. What are Division 7A Loans? Division 7A loans are a provision within the…
Audits can be scary, but there is a lot you can do to prepare in order to have the best possible experience. Here’s what happens during an ATO audit.
Audits can be scary, but there is a lot you can do to prepare in order to have the best possible experience. Here’s what happens during an ATO audit.
Audits can be scary, but there is a lot you can do to prepare in order to have the best possible experience. Here’s what happens during an ATO audit.
Medical professionals constantly juggle their day-to-day practice with the business side of things. But let’s face it, as a doctor, you’ve got your hands full with patient care, so management and financial planning tends to take a backseat. While a doctor’s primary goal is to focus on providing health services to their clients, they mustn’t…
This guide will walk you through some of the most common tax deductions that Australian business owners can claim, so you can be sure you’re getting the most out of your tax return.
An accountant letter is a document that is used to verify an individual’s or company’s financial status. Banks, landlords, and other institutions often request it when someone is applying for a loan or credit card, trying to rent a property, or seeking other financial assistance. An accountant’s letter can be a valuable tool in obtaining…
Did you know that as an Australian taxpayer, you could legally reduce your tax liability through a salary sacrifice or salary package agreement? In this article, we’re going to take a look at the various tax implications associated with this option. And while the word ‘sacrifice’ might not necessarily sound like a positive implication, salary…
An SMSF (self-managed superannuation fund) is an attractive vehicle for retirement savings for many Australians. Though the setup and administration of an SMSF can be daunting, with proper planning, it can offer tax advantages and greater control over your retirement savings. However, if you decide to go along the route of winding up an SMSF…
Considering the current state of the worldwide economy and the effects of the pandemic, it’s no surprise that business owners are rethinking their exit strategies, particularly in terms of liquidation. Some business owners have seriously weighed up the option of closing their doors to avoid possible negative consequences. But for others, the negative impact of…
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