As a physiotherapist in Australia, you have a unique set of expenses that can be claimed as tax deductions. Understanding what you can claim helps reduce your taxable income and ensures you’re not missing out on any entitlements. This guide will walk you through the most common deductions available, practical tips for record-keeping, and answers…
If you’re an Australian taxpayer, understanding the tax-free threshold will help you manage your finances better and not pay too much. Let’s dive in and find out the tax-free threshold, how it works, and why it matters to you. What is the Tax-Free Threshold? The tax-free threshold is the amount you can earn tax-free each…
As a business owner or manager in Australia, one of the most crucial responsibilities you’ll encounter is managing your Business Activity Statement (BAS). Having an Australian business number (ABN) is essential for registering for GST and receiving a BAS automatically when it’s time to lodge. These regular tax obligations are fundamental to running a compliant…
Can I use my super for a house deposit? For many people, the biggest obstacle to buying a home is coming up with a deposit. In Australia, the average deposit is around 20%, which can be a lot of money to save up. However, there is another way to come up with a down payment:…
Updated: 14 July 2020 If you’re a sole trader or in a partnership, you’re likely assessing Pty Ltd Company advantages and whether setting up a Pty Ltd Company would be suitable for your situation. Many clients ask me why they should set up a Pty Ltd company. The answer to that is – it depends….
Are you looking at change accountants? Is your accountant not responding or taking far too long to get back to you? We often have clients sign up for our services as a result of having a negative experience with their previous accountant or accounting firm. For example, we recently picked up a new client in…
What to look out for when hiring your first employee Looking at hiring your first employee? Achieving entrepreneurial success isn’t just about picking anyone for your company. It’s also about making sound decisions and implementing the right strategy in attracting the best prospective employees. The first few stages in the life of your business are…
It’s never too early to have business risk management processes in place. No matter the size of your business, it’s important to identify where the potential pitfalls exist within your business that can put not only your profits at jeopardy but your entire business’ existence. When I first started my business, this was extremely high…
When winding up a company, you must follow the correct process to ensure that your proprietary limited company has officially ceased to exist. Without doing so, you are still obligated to perform regulatory reporting and incur fees on an annual basis. Furthermore, the company will be at risk for exposure to future liabilities that may…
Work out what price you should charge per hour Calculate how much you’re worth using our contractor pricing calculator How do you calculate the price and rate for your service? How do you ensure you that you are charging enough to pay for the tax, expenses, and shortfalls as a contractor? The most obvious and…
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