As a business owner in Australia, you’ve got a lot on your plate. From managing staff to keeping the books in order, it’s easy to feel overwhelmed. One important thing about running a business is understanding the weekly tax table and how it applies to you. The weekly tax table is influenced by income tax…
As a business owner or accounts professional in Australia, you need to know about the tax-free threshold and how it affects your employees’ pay. And it all starts with the latest information on tax declarations, income assessments, and potential tax liabilities. Out of all these details you need to keep up to date with, the…
Are you feeling uncertain when it comes to paying directors’ fees and being compliant with the ATO? You’re not alone. It’s a question we get asked often – should we pay directors, and if so, how should director fees be paid? Claiming a deduction lowers your overall tax liability, so you’ll want to be clued…
There are around 600,000 not-for-profits in Australia, which is around 10% of the workforce. But it’s no secret that the wages are nowhere near what you’d get if you worked for a big corporate company. However, the job is way more rewarding for most not-for-profit employees than just a paycheck. Beyond that, the Australian Tax…
Like all significant business decisions, deciding between a company vs a trust business structure requires a complete understanding of the advantages and disadvantages of each situation. Our guide is designed to delve into the pros and cons of both business structures, aiding you in identifying the most appropriate choice for your unique circumstances. Differences Between…
So you’ve heard all the hype about negative gearing in Australia and want to know what it’s all about? Or maybe you’re buying a property and trying to decide if negative or positive gearing is for you. This article will explain what it is and who it’s for, share some tips, and debunk some myths…
The government has confirmed that the Stage 3 tax cuts are in place for most Australian workers as of 1 July 2024. These tax cuts were announced as part of the federal budget and aimed to provide financial relief to Australian workers. This article explains the Stage 3 tax cuts, how they affect employees at…
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…
Starting a business is an exciting journey filled with lucrative opportunities, growth, and the chance to pursue your passion. One of the most common ways to open a business is under a company structure, which provides a range of unique benefits, such as limited liability and the ability to raise capital. However, with this structure…
The different types of trusts in Australia are widely used as a preferred business structure when it comes to investments, managing the financial affairs for families as well as business purposes. But did you know that there are a handful of different types of trusts in Australia? If you’re looking to open a trust, it’s…
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