2021 NSW Lock Down Business Support

The NSW and Federal Governments have announced a series of new measures to support the business during extended lockdowns of four weeks or more: Up to $15,000 through the expanded…

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A Guide To Buying Property Through An SMSF

Investing in property through a self-managed super fund (SMSF) has grown in popularity in recent years, … A Guide To Buying Property Through An SMSFRead More »

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2021- 2022 Federal Budget Overview

The 2021-2022 Federal Budget overview has released. Here is the highlight of the report: Income tax exemption for qualifying grants made to primary producers and small businesses affected by the…

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Difference Types of Business Structures in Australia

Before you start a business, there are some facts you will need to know. The business structure you choose might impact your business registration process; your tax position’ the safety…

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Q and A of Starting a Business

Q: Do I have to form a corporation in order to turn my hobby into a business? A: To start a business, you don’t have to form a corporation. The…

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The Process of Register a Business in Australia

In this article, we will tell you how to register your business in Australia. There are 4 steps to follow when you registering your business: Decide the business structure Apply…

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Setting Up a Partnership Business in Australia

There are many ways to start a business such as sole trader, partnership, company and trust based on your situation.   A partnership is a group or association of people…

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What are the 3 Types of Residential Properties that can be Acquired by SMSF from Related Party?

There are numerous restrictions prescribed by SIS legislation that the Self Managed Super Fund (SMSF) should constantly comply with when doing investments. One of the most rigorous rules is that…

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Common Reporting Standard (CRS)

Australia is one of countries that has committed to new global standards - Common Reporting Standard (CRS) on the implementation of automatic exchange of financial account information. CRS is a…

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The 1st July 2021 Superannuation Changes

Changes from 1st July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account. In general,…

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Professional Services Firm Profits Under Fire

The Australian Taxation Office (ATO) has been concerned for some time about how many professional services firms are structured – specifically, professional practices such as lawyers, architects, medical practices, engineers,…

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Why Are Some Businesses Returning JobKeeper?

Retail industry vs Covid-19 vs JobKeeper payment Super Retail Group - owner of the Supercheap Auto, Rebel, BCF and Macpac brands - handed back $1.7 million in JobKeeper payments (a…

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The Pandemic Productivity Gap

A recent article published in the Harvard Business Review by Bain & Co suggests that the pandemic has widened the Productivity Gap (is a phrase to describe a sustained difference…

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A New Announcement From ATO of Single Touch Payroll

Single Touch Payroll (STP), is an Australian Government initiative to reduce employers' reporting burdens to government agencies. With STP, you report employees' payroll information to us each time you pay…

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Know Changes to the Application of Foreign Surcharges for Trusts Holding NSW Residential Property

The State Revenue Legislation Further Amendment Act 2020, which came into effect in New South Wales on 24 June 2020, includes changes to “foreign person surcharges” for purchaser duty and…

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Using your SMSF for Property Investment

It became possible for SMSFs to borrow money to fund a direct property purchase. And, SMSFs have become an increasingly popular choice for Australians in recent years.  If you are…

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Advantages and Disadvantages of a Discretionary Trust

If you are considering starting your business through a discretionary trust, it is important to understand how the discretionary trust will impact your business running and understand this structure is…

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Make Trusts Part of Your Future Planning

Clients often ask, “Why do I need a trust?” This question comes up when people want to make lifetime gifts to their children in the future, and even more frequently…

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Tips for Freelance Tax Preparation

  Individuals who have been utilized in conventional work settings are thinking that it’s essential to enhance or supplant their revenue sources. While some intentionally exit their positions, others might…

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Five Small Business Tax Deductions When Claim Tax

  Running a business is not easy since the more you earn an income, the more expenses you incur most, especially when paying taxes. However, some universal rules help the…

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Can Business Loans Be Written Off?

  Acquiring a loan to finance or rather boost business is quite common among different business owners. However, one needs to be cautious when taking the loan and the kind…

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Understanding the ESS changes. Five things you need to know.

  There have been some recent changes to the tax rules when it comes to employee share schemes. There has been an attempt to make them more appealing for employer…

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Do you know about Stamp Duty Concession on certain asset transfers in Self-Managed Super Fund?

Are you a property investor? Are you a trustee of SMSF?   Then you should read this article carefully.  Aside from the lower tax rates which apply within a self-managed…

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7 steps to set up a company in Australia

  Setting up a company may be the first step people think of when coming across starting up a business. Although that is not always the case, there are other…

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What to know about Capital Gains Tax (CGT) and How to Calculate It.

The vast majority of property investors pay Capital Gains Tax (CGT) on a rental property when they sell, or dispose, of it. So it’s important to understand what is CGT…

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What’s New for 2020FY Home Office Tax Claims due to COVID-19

With an increased number of employees working from home due to the Covid-19 pandemic, home office expense claims have become more common deduction items for the 2020 tax year. Anyone…

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3 Types of Dividends for Company Shareholders

  Do you know there are 3 Types of Dividends for company shareholders?  If you have read our previous post "Comparison on Business Structures" you will find that company is…

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5 Mistakes on Self-Manged Super (SMSF) Property Investment

Deciding on getting into property investment through the self-managed super fund or SMSF is something worth considering. If you take into consideration the volatility of the stock market, low-interest rates,…

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When Can I Access My Super Fund?

Generally, you can start withdrawing from your superannuation fund after you've reached your preservation age and you’re retired, but there are instances when you may be able to access super…

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Australia Land Tax – An Introduction

Can You Avoid Remitting Your Land Tax? It is possible to stop paying your monthly land tax. However, that would mean you also stop purchasing more properties.  How would that…

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Do You Want to Retire in Comfort? Investing in Property then

Why invest in property for retirement income? After you retire, you need a plan to generate income. As per the Australian Bureau of Statistics, only about 10% of Aussies who…

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How to Make Tax-deductible Super Contributions

What are tax-deductible super contributions? Tax-deductible super contributions are made from your after-tax income. This income may be from a variety of sources such as your take-home pay, savings, an…

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Minimise Land Tax in Five Easy Ways

  Land tax is a tax payable based on the combined unimproved value of the land a person or entity owns. The land tax is calculated based on how much…

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How to Register an Australian Business Name (ABN)?

What is an ABN? Your ABN is an 11-digit number that represents your business to the gov, other businesses and the public in Australia. Legally you are required to have…

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EOFY 2019/2020 Tax Planning Guide for Business

EOFY 2019/2020 is Approaching!   Is your business ready to save on tax claim? Here are some top tips from BOA & Co.'s tax guide for small business owner when it…

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EOFY 2019/2020 Tax Planning Guide for SMSF Trustee

EOFY 2019/2020 is Approaching!   Are you ready to save on the SMSF tax claim? Here are some top tips from BOA & Co. for SMSF trustee when it comes to…

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EOFY 2019/2020 Tax Planning Guide for Personal/Family

EOFY 2019/2020 is Approaching!   Are you ready to save on personal and family tax claim? Here are some top tips from BOA & Co. for Personal/Family when it comes to…

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Comparison on Business Structures in Australia

At BOA & Co., we pride ourselves in our ability to give you the best financial advice for your business, so that you can have the ease of mind when…

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How to start a business in Australia

If you’re an up and rising entrepreneur looking to start your own business, but have no idea where to start, then this article is for you. To start, you have…

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Assets Depreciation Changes Soften Residential Investor Demand

New changes to the way assets can be deducted The changes mean owners of any property not bought brand new will no longer be able to depreciate assets like air-conditioners,…

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Policy Changes for SMSF Customers & Those Requesting Interest Only Lending

Policy and Process Changes for SMSF Customers & Customers Requesting Interest Only Home Lending. Today, BOA & Co. is implementing policy and process changes for when we lend to Self-Managed…

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