It’s no secret that capital gains tax (CGT) is a complicated topic. In fact, CGT can be one of the most confusing taxes for business owners to understand and usually last on the list of considerations when selling a business. But, there are many things to consider when you’re looking to sell your company, including…
When starting your own business, it’s easy to not think about when you’ll need a business exit strategy. But as life happens and priorities change, so might your vision for your small business venture. That’s why it’s important to have a clear and concise business exit strategy in place; not only to help protect you…
Doctors are among the highest-earning professionals in Australia. And the higher the income, the higher the marginal tax rate. But did you know that as a medical professional, you’re eligible for a pretty long list of deductions? Unfortunately, however, many doctors are missing out because they don’t know what tax deductions they can claim. So,…
Capital gains tax is an unavoidable expense that many investors have to face during their investment journey. Whether you own shares or property, if you make a capital gain on the sale of those investments, you’ll have to pay capital gains tax (CGT) to the Australian Taxation Office (ATO). Although capital gains tax is not a…
Since 1 July 2016, the Australian government has made several tax concessions available through the Small Business Restructure Rollover, offering smaller businesses the chance to undergo restructuring changes without facing tax issues. The small business restructure rollover offers significant benefits to small businesses restructuring their affairs. Understanding the tax consequences is crucial for small businesses…
The idea of employee share schemes (ESS) has exploded in the last few years, and it’s easy to see why. Not only do employee share schemes have the potential to grow your company’s profitability, but they also offer a chance for employees alike to build wealth in ways that are typically unavailable within traditional salary…
Goods and Services Tax or GST is a tax that applies to most goods and services sold in Australia. It’s an important tax for businesses to understand so they can calculate the amount of GST on their products, register for it if necessary, and then pay it! If you’re not sure if your business needs…
Finding a good business accountant for your small business can seem like an impossible task. With so many accountants out there, it’s hard to know which one is right for you and your company. You could ask around for referrals, but at the end of the day, you need to find a business accountant who…
Claiming fuel tax credit can provide a significant reduction in the amount of tax you pay on your business’s operating costs. Yet, claiming these fuel tax credits is often overlooked by many small business owners. To help make the claiming process a bit easier, we’ve put together an article that breaks down everything you need…
If you’re an entrepreneur or director of a small business, I’m sure you’ve heard about setting up a holding company to reduce risk and minimise tax while your business grows. Many people end up setting up holding companies for the protection it offers, but it’s worth noting that there are limits to that protection. For…
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