DON’T Transfer money in and out of your company willy nilly/ without a plan!
Borrowing money from your own company might seem convenient / easy / simple / a minor issue that you can rectify later but in so many cases, this practise just results in a tax, legal and administrative NIGHTMARE.
Company directors: here’s our guide to the intricacies of borrowing money from your company…
Travel expenses are a significant outlay for many professionals and business owners in Australia. Understanding how to properly claim these expenses on your tax return may lead you to substantial tax savings.
Understanding Eligible Travel Expenses
Relationship breakdowns are stressful, (especially when kids are involved). Along with experiencing a wide range of emotions including fear, uncertainty for the future, anger, sadness,
Cryptocurrency is a digital currency that, similar to physical cash, serves as a means of buying goods and services. It also presents an opportunity for investment, with people acquiring it for the aim of gaining financial returns. Cryptocurrencies and crypto assets comprise a range of digital assets utilising cryptographic techniques for digital security, coupled with distributed ledger technology for the permanent recording of transactions.
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.
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