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Smart Investment Options for Young Australians: BOA & Co’s Top 10 Picks

Navigating the world of investments can be both exciting and daunting, especially for young Australians just starting out. With the right guidance, even modest investments can grow into substantial returns over time. BOA & Co is here to help you understand the best investment opportunities available today, tailored specifically for the unique needs of younger […]

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Company Limited by Guarantee vs Incorporated Association: What’s Best for Your Not-for-Profit?

When it comes to establishing a legal structure for your not-for-profit organisation, the choice between a company limited by guarantee and an incorporated association is crucial. This decision can impact everything from compliance and reporting requirements to operational flexibility and cost. In this guide, we compare these two structures to help you determine the best

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How High-Income Earners Can Save Thousands with Effective Tax Planning

Staying compliant and consistent with your tax planning can result in significant savings and redirect your finances towards what truly matters to you and your business. According to the ATO, tax planning is the right of Australian taxpayers to arrange their financial affairs to minimize tax legally. However, it’s crucial to distinguish between lawful tax

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Tax Residency for Individuals: Essential Insights for Accurate Client Advisory

Tax residency is a critical factor in determining an individual’s tax obligations in Australia. Whether you are a resident, non-resident, or temporary resident, your residency status significantly influences the types of income and gains you will be taxed on. However, for many individuals with ties to multiple countries, determining residency status can be complex and

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Managing an Ageing SMSF Client Base: Essential Strategies for Success

As the demographic of Self-Managed Superannuation Fund (SMSF) members ages, managing these funds effectively becomes increasingly crucial. With over 50% of SMSF members now over the age of 60, the need for strategic planning and risk management in SMSF administration is more pressing than ever. This article delves into the essential strategies for managing an

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Navigating Related Party Transactions: Key Integrity Rules and Tax Adjustments

Related party transactions often pose unique challenges for practitioners working with private groups. These transactions require careful consideration of tax implications to ensure compliance with integrity rules and to avoid mismatches between the economic substance of the arrangement and the resulting tax outcome. Understanding and applying these rules is essential to managing the tax impact

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2024 Regulatory Changes for Tax Practitioners: Navigating New Regulatory Changes

The recent PwC scandal has spurred a wave of regulatory changes impacting registered tax and BAS agents across practices of all sizes. As a practitioner, staying informed about these updates is essential to maintain compliance and protect your practice. This article explores the key changes and offers practical insights to help you navigate the new

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The Ultimate Guide to Starting a Successful Real Estate Business

Starting a real estate business can be your gateway to financial success, but it’s not without its challenges. From understanding the industry landscape to selecting a niche, and from legal considerations to effective marketing strategies, there are several critical steps to launching a successful real estate business. This guide will break down these steps into

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Top 10 Tips for Effective Financial Management Every Business Owner Should Know

Overview Effective financial management is crucial to the success of any business, especially for small business owners. It’s not just about keeping the lights on—it’s about making informed decisions that drive growth and profitability. While you might be an expert in your industry, financial management might not come naturally to you. But don’t worry—BOA &

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Keeping Your Business on Track: Managing Expenses and Income Efficiently

Money flows in and out of your business every day. While it’s easy to focus on the money coming in, understanding the money going out is just as crucial. Tracking both your business expenses and income isn’t just about staying organized—it’s about building a solid foundation for growth and success. Let’s explore why this practice

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