Are you a high-income earner in Australia? If so, you may need to familiarise yourself with Division 293 tax—a tax that could affect your superannuation contributions. This blog post is designed to break down the complexities of Division 293 tax and explain it in a way that’s easy to understand for beginners.
As a small business owner in Australia, now is the time to consider various strategies to optimise your overall tax position. Here are 20 ways to potentially save on tax before 30 June…
A common challenge faced by a significant portion of our clientele, irrespective of their financial prosperity, revolves around establishing and sustaining an effective, transparent system for managing their finances. Apart from the exorbitant current cost of living, which can itself be disheartening, time constraints pose a significant hurdle for most of these days! Even our most accomplished clients, who have successfully expanded their businesses and achieved financial success, often find financial management to be tedious.
I’m pretty sure that making as much money as possible – by working as little as possible is the dream (and a new year’s resolution) for all of us!
After all, time is the most valuable we have. It is finite, it moulds the essence of our existence and really, there is nothing more important that spending it happy, with loved ones, doing what we love.
So then, how do we free up our time – while making MORE money?
2023 has been a year of significant growth for our small business, with some challenges, lessons, new friends, and lots of fun along the way.
Back when I started out in business in 2012, fresh from a full time employed job as an accountant in the Sydney CBD – I was immediately struck with the freedom that comes with running your own show.
Now more than ever, effective communication is essential for success- especially if you’re running a business that operates predominantly online. Not only is it crucial that your customers feel confident that they can reach you easily, but it’s also important that you respond to your client’s queries in a timely manner.
The R&D Tax Incentive extends a tax offset to eligible businesses engaged in research & development activities within Australia. The incentive is jointly managed by the Australian Taxation Office (ATO) and the Department of Industry, Science, Energy, and Resources (DISER).
As we approach the dawn of a new calendar year, it’s the perfect time for entrepreneurs and business leaders to set the stage for success by creating a comprehensive business plan.
In Australia, Fringe Benefits Tax (FBT) is like a tax on the extra perks or benefits that employees receive from their employers (apart from their regular salary or wages). These perks, or “fringe benefits,” could include things like private use of a company car, health insurance, or even expenses paid for a work-related party or event.
Every year, our team get tonnes of enquiries from new migrants to Australia who are feeling confused about our taxation system and what they need to do in order to have their personal income tax return prepared.
As a property investor in Australia, you can potentially SIGNIFICANTLY reduce your tax liability by understanding the capital gains tax rules and strategically managing your investments.
In this guide, we take you through the various aspects of CGT, including exemptions, the six-year rule, and ways to reduce CGT payments.
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