Can a Sole Trader Have Employees? Unraveling the Myths and Facts for Business Owners

Many sole traders believe they must handle their business alone, but that’s not the case. Can a sole trader have employees? Yes, they can. Hiring employees as a sole trader…

Read More
Do Sole Traders need to pay Superannuation?

Are you a sole trader wondering about superannuation? Securing your retirement starts with understanding and managing your super contributions. With no automatic super payments from an employer, you must take…

Read More
Understanding What Is an LLC in Australia: Your Essential Guide to Business Structure

Are you considering starting a business in Australia and wondering what an LLC is? In the Australian business landscape, an LLC—commonly known as a ‘Proprietary Limited Company’ or ‘Pty Ltd’—offers…

Read More
Why Your Accountant Is The Real Influencer You Would Want To Follow

Have you ever been swayed by the recommendations of social media influencers, only to regret your spending decisions later?  While content-producing influencers dominate the online space, there's one real influencer…

Read More
18 Prosperous Business Practices for Lunar New Year: Embracing Wealth and Wisdom

As we approach the Lunar New Year, businesses worldwide are preparing to welcome wealth, prosperity, and good fortune. Beyond the festive celebrations, this season carries rich traditions and superstitions that…

Read More
How to offset business losses for tax deductions

If your business has incurred losses, leveraging them for tax deductions requires navigating through specific tests designed to prevent misuse of tax benefits. Here's a step-by-step guide: 1. Income Requirement:…

Read More
Mastering Small Business Bookkeeping: Top 9 Tips for Success

Running a small business is exhilarating but comes with its challenges, and amidst the chaos, bookkeeping often takes a backseat. Yet, maintaining impeccable financial records is the linchpin of any…

Read More
Small Business Bookkeeping: A Cornerstone for Business Success

Embarking on the journey of building a small business involves mastering various aspects, from marketing to operations. Amidst these priorities, the significance of small business bookkeeping often gets overlooked. Understanding…

Read More
Navigating the Landscape of Self-Managed Superannuation Funds (SMSFs) in Australia: A Comprehensive Overview

Australia's mandatory superannuation system ensures most individuals accumulate substantial retirement savings by midlife. While many Australians build their retirement wealth within industry or retail superannuation funds, others opt for a…

Read More
A Comprehensive Guide to Investment Taxation, Capital Gains, Dividends, and Beyond in 2024

Embarking on the journey of investing for financial growth involves more than market analysis; it requires a keen understanding of the ever-changing tax laws and brackets. As we enter 2024,…

Read More
Comprehensive Guide: Launching and Growing Your Home-Based Business in Australia

Have you ever envisioned running a business from the comfort of your home? With the increasing prevalence of remote work and digital opportunities, now is the perfect time to turn…

Read More
Mastering the Holding Company: A Comprehensive Guide to  Business Structure Optimization

In the fast-paced realm of business, staying ahead is key. Many businesses gain a strategic edge by adopting a holding company structure. Unlike traditional companies, a holding company doesn't produce…

Read More
Understanding Payroll Tax: A Comprehensive Guide for Employers and Employees

Ever wondered about that line item for payroll tax on your pay slip? Or perhaps, as an employer, you've grappled with the intricacies of calculating and paying this tax accurately.…

Read More
Guide to Effective Cash Flow Management in Australia

For Australian small businesses, negative cash flow remains a pressing challenge. According to a recent Xero survey (2023), 85% of business owners prioritize cash flow management, with nearly half citing…

Read More
Property Investment Dilemma: Buy Now or Wait?

The decision to invest in property is a significant one, and timing plays a crucial role in maximizing returns. With market conditions constantly evolving, prospective investors often grapple with the…

Read More
Choosing Wisely: A Guide on How to Pick a Trustworthy Accountant

In the realm of financial management, selecting a trustworthy accountant is a pivotal decision that can significantly impact your financial well-being. An experienced and reliable accountant not only ensures compliance…

Read More
Navigating Finances: Are Financial Advisers Worth It?

In the ever-evolving landscape of personal finance, individuals often find themselves at a crossroads when contemplating whether to seek the services of a financial adviser. The question that looms large…

Read More
Maximizing Returns: Your Guide to Effective EOFY Tax Planning Strategies

As the financial year comes to a close, it's crucial for individuals and businesses alike to engage in effective End of Financial Year (EOFY) tax planning. Proactive strategies can not…

Read More
Strategic Wealth Building: A Guide to Buying an Investment Property

Investing in real estate can be a powerful strategy for building wealth and securing a financially stable future. However, entering the world of property investment requires careful consideration and planning.…

Read More
Navigating Retirement: Should You Contribute to Superannuation?

Planning for retirement is a crucial aspect of financial management, and superannuation is a cornerstone for many Australians. However, the decision of whether to contribute to superannuation can be influenced…

Read More
Tax
Unleashing Financial Freedom: The Power of Mortgage Offset Accounts

For homeowners looking to supercharge their financial strategy, a Mortgage Offset Account can be a game-changer. This often-overlooked financial tool has the potential to save you money and accelerate your…

Read More
Maximizing Returns: A Comprehensive Overview of Rental Property Tax Deductions

Owning a rental property can be a lucrative investment, but it also comes with financial responsibilities. One key aspect of managing a rental property is understanding the various tax deductions…

Read More
Navigating the System: Keeping Centrelink Updated – Dos and Don’ts

As a crucial support system for countless Australians, Centrelink plays a pivotal role in providing financial assistance to individuals and families. To ensure that you receive the benefits you are…

Read More
Navigating Wealth: Investing in Property vs. Shares

In the dynamic world of investment, the age-old debate continues to captivate the minds of prospective investors: Is it wiser to invest in property or shares? Both avenues offer unique…

Read More
What are your tax obligations in the sharing economy?

Are you part of the growing number of Australians engaged in the sharing economy? If you're earning income through digital platforms, it's essential to understand your tax obligations. Here's a…

Read More
Property Finance Uncut: Unwrapping the RBA’s holiday outlook

As 2023 comes to a close, the Reserve Bank of Australia (RBA) has unveiled its last decision, setting the stage for the property market in 2024. In a recent episode…

Read More
Streamlining Your Business Finances: The Importance of Accounting

Running a successful business involves juggling numerous tasks, and among them, managing your finances is paramount. Efficient accounting not only keeps your business in compliance with regulations but also provides…

Read More
Higher GST? Negative gearing changes? Why we’ve got to talk about tax

As Australia's population ages and the demand for costly services like health and aged care rises, the nation faces a pressing fiscal challenge. The last major tax reform, the Goods…

Read More
Capital gains tax rates and how to calculate what you owe for 2023

Capital gains, the profits reaped from selling assets like stocks, real estate, and investments, come under scrutiny when tax season arrives. Understanding the intricacies of capital gains tax rates is…

Read More
Navigating Year-End Tax Planning for Your Business: 8 Strategies to Secure Financial Success

As we approach the culmination of 2023, business leaders are confronted with an array of critical decisions that can significantly impact their tax liabilities and overall financial health. The interplay…

Read More
Strategic Year-End Tax Planning: 3 Actions to Fortify Your Financial Future in 2024

As we approach the conclusion of 2023, the significance of comprehensive tax planning cannot be overstated. Now is the opportune moment to engage with your tax advisor and embark on…

Read More
Unlocking the Full Potential: A Comprehensive Guide to Transitioning Your SMSF into Pension Phase

The journey toward a secure and fulfilling retirement involves strategic financial planning, and for many Australians, managing a Self-Managed Superannuation Fund (SMSF) is an integral part of that process. Transitioning…

Read More
Cash Management Tips For Business Owners – Make More Profit, Faster!

Running a business is no easy feat. Juggling multiple tasks simultaneously is the norm for business owners, and among these tasks, cash management reigns supreme. Effective cash flow management is…

Read More
Navigating Taxes: 5 Essential Steps for Business Owners

Embarking on tax planning early can save your business thousands of dollars. Don't wait until the last minute—here are five crucial steps every business owner should take now to reduce…

Read More
Maximizing Your 2023 Year-End Tax Planning Benefits: A Comprehensive Guide

Approaching the year-end marks a strategic opportunity to fine-tune your financial and estate plans. Reflect on your wealth goals, align them with your future commitments, and make the most of…

Read More
Navigating the Landscape: SMSF Fees Continue to Lead the Way in Affordability

As Australians focus on maximizing their superannuation returns, recent research from Rainmaker brings encouraging news: self-managed superannuation funds (SMSFs) maintain their status as the most cost-effective segment in the super…

Read More
Mastering the Shift: Your Guide to the Updated Capital Gains Tax Rules in 2024

Attention investors! Changes to capital gains tax rules for 2024 have been unveiled, and while tax rates for growing assets remain steady, income thresholds are on the rise. In this…

Read More
Demystifying Australian Land Tax: What You Need to Know

Australian land tax is a crucial component of the country's taxation system, with implications for property owners and investors. This article provides a comprehensive guide to Australian land tax, shedding…

Read More
Guide to Effective Cash Flow Management in Australia

In Australia, many small businesses grapple with negative cash flow, a significant challenge that affects their financial health.  According to a 2023 Xero survey, 85% of business owners identified cash…

Read More
Understanding the Australian Goods and Services Tax (GST): Your Path to Financial Clarity

Australia's taxation system is complex, with various taxes contributing to the government's revenue. One of the most important components of this system is the Goods and Services Tax (GST). This…

Read More
Proposed Super Tax Could Impact 50,000 SMSF Members: A Closer Look

In a recent study conducted by the International Centre for Financial Services (ICFS) at the University of Adelaide and commissioned by the SMSFA (Self-Managed Super Fund Association), concerning revelations have…

Read More
Top Tax Planning Strategies for High-PAYG Income Earners

High-income employees often find themselves facing substantial tax liabilities. However, with careful planning and strategic decision-making, they can significantly reduce their tax burdens. In this article, we will discuss the…

Read More
Is Setting Up a Self-Managed Super Fund (SMSF) Easy?

Managing retirement savings is a critical aspect of financial planning, and many Australians rely on superannuation funds to secure their retirement. However, there is an alternative approach known as a…

Read More
Can Digital Reporting Tame the Corporate Reporting Beast?

In today's complex and fast-paced business world, corporate reporting has become an essential tool for stakeholders seeking to understand a company's financial health, performance, and overall sustainability. The need for…

Read More
Wolters Kluwer Launches TeamMate® Document Linker: A Game-Changer for Audit Quality in Accounting Firms

New York, Date - In a significant development, Wolters Kluwer, a renowned global leader in professional information, software solutions, and services, has unveiled a revolutionary product, TeamMate® Document Linker. Designed…

Read More
Inflation Slips to Lowest Annual Figure Since Last February

The latest data from the Australian Bureau of Statistics (ABS) reveals that inflation has taken a noteworthy step back, marking its lowest annual figure since February. In July, monthly inflation…

Read More
Exploring “The New Equation for Australia”: Navigating the Path Ahead

In an era of rapid change and unprecedented challenges, the dynamics that shape a country's progress have evolved. As Australia seeks to define its future growth and resilience, this insightful…

Read More
Uncovering the Recent Changes in Australian Tax Returns: Why Your Refund Might Be Affected

Recent developments in the Australian taxation landscape have sparked concern among taxpayers as nearly 300,000 individuals might experience reduced or even wiped-out tax returns this year. This shift comes after…

Read More
 Unveiling the Power of Property Finance: A Comprehensive Guide

Property finance is a pivotal aspect of real estate that drives investment, development, and the realization of dreams for both individuals and businesses. Whether you're a prospective homeowner, a real…

Read More
Brisbane shines as Sydney and Melbourne office markets face challenges

The Australian office market has experienced fluctuations in vacancy rates over the past six months, with Sydney and Melbourne facing serious challenges due to historically high supply. According to the…

Read More
Mastering the Art of Accounting and Bookkeeping: A Comprehensive Guide

Accounting and bookkeeping are the backbone of every successful business. Whether you're a budding entrepreneur, a small business owner, or a finance professional, understanding these essential concepts is crucial to…

Read More
Understanding the Impact of Recent Changes to the Australian Superannuation System.

The Australian Superannuation System is a crucial pillar of the country's retirement landscape, designed to ensure that citizens have adequate financial security during their post-work years. Over the years, this…

Read More
Tax Planning Strategies for Small Businesses: Maximizing Deductions and Minimizing Liabilities

Tax planning is a crucial aspect of financial management for small businesses. By employing effective tax planning strategies, businesses can optimize their deductions, minimize tax liabilities, and ultimately enhance their…

Read More
Exploring Different Business Structures in Australia
Exploring Different Business Structures in Australia: Sole Trader, Partnership, and Company

When starting a business in Australia, one of the key decisions entrepreneurs face is choosing the right business structure. The business structure you select will have significant implications for your…

Read More
Tax Considerations for Australian Property Investors and Changes in 2024
Tax Considerations for Australian Property Investors and Changes in 2024

Investing in real estate has long been a popular wealth-building strategy in Australia. However, it's crucial for property investors to stay informed about the ever-evolving tax landscape and any changes…

Read More
Key Changes in the Australian Taxation System for the 2024 New Financial Year
Key Changes in the Australian Taxation System for the 2024 New Financial Year

As the new financial year dawns upon us, it's essential to stay informed about the latest updates in the Australian taxation system. The Australian government continuously makes changes to the…

Read More
Tax Planning Strategies for Small Businesses at the End of the Financial Year in Australia
How to avoid unnecessary tax payables through Effective Tax Planning

Tax planning is an essential aspect of financial management for individuals and businesses alike. It involves strategizing and making informed decisions to minimize tax liabilities within the legal framework. In…

Read More
CBA announces reduced buffer alternative

A big four bank has announced it will drop its serviceability buffer to 1 per cent for qualifying refinancers from June 23, 2023. The Commonwealth Bank of Australia (CBA) has…

Read More
euro, money, finance-870756.jpg
What is the 10-Year Tax Rule?

The 10-Year Tax Rule is a tax incentive policy that benefits Australian individuals and those planning to relocate to Australia. According to this rule, an investment held for ten years…

Read More
Common Deductible Expenses for Sole Traders in Australia: Maximizing Tax Benefits

As a sole trader in Australia, understanding deductible expenses is essential to optimize your tax benefits. By identifying and claiming legitimate deductions, you can reduce your taxable income, ultimately minimizing…

Read More
Tax Planning Strategies for Small Businesses

While the end of the financial year is fast approaching, there is still time for business owners to be proactive with their tax planning. This can help to maximise returns…

Read More
Unveiling the Power of Australian Superannuation: A Comprehensive Guide

A Comprehensive Guide In Australia, the concept of superannuation holds tremendous significance for individuals' financial well-being in their post-retirement years. Understanding how Australian superannuation works and optimizing its benefits is…

Read More
Australian Tax
Is Tax Residency the same as Citizenship?

Why is it important to determine your Tax Residency? Australia's tax laws treat Australian residents and Non-Resident differently.  Australian tax residents are generally taxed on all of their worldwide income. …

Read More
Tax residency and why people should be aware of this

Some of the high-net-worth clients we have served have misconceptions about international tax regulations, believing that as long as they do not reside in any country for 183 days or…

Read More
Silicon Valley Bank Collapse

People commonly believe that keeping their money in a bank is the safest option, but this is not the case. Consider the bankruptcy of Silicon Valley Bank, the bank invested…

Read More
Why is superannuation important to Aussies

Superannuation is an important component of personal wealth growth and long-term financial planning for many Australians.    By contributing to their superannuation accounts over time, individuals can accumulate a significant…

Read More
Raising interest rates
Raising interest rates? the untold point of view from a Tax Agent.

Behind interest & inflation, how is your wealth being affected? Inflation and interest rates tend to move in the same direction, and in the long term, raising interest rates and…

Read More
electric car, charging station, electric cable-4276419.jpg
What’s new with buying an electric car for your business?

What is Fringe Benefit Tax (FBT) and how it affecting your business?Employers pay Fringe Benefits Tax on certain benefits they provide to their employees or associates, in addition to their…

Read More
bitcoin, cryptocurrency, currency-2643159.jpg
How Crypto is Taxed?

How should the new information -based blockchain economy be reported on tax returns? What is Cryptocurrency? A cryptocurrency is often used to describe a digital asset in which cryptography is…

Read More
accountant, accounting, adviser-1238598.jpg
Does rolling an asset over to another SMSF trigger a CGT event?

Imagine I am the only member of SMSF 1 and I roll assets over to SMSF 2, where I am also the only member: does this trigger a CGT event?…

Read More
savings, budget, investment-2789112.jpg
What Are the Tax Consequences of Changing Trustees?

A trustee is the legal entity that holds the assets of a trust. Trustees have significant power as they have the authority to distribute trust income, sometimes at their own…

Read More
mortgage, house, money-3580537.jpg
Mortgage Offset Account

The terms "mortgage offset account," "offset house loan," and "interest offset account" are all used to refer to the same service offered by financial institutions. To put it simply, it…

Read More
money, wallet, finance-3219298.jpg
Should You Pay Superannuation

Do you have employees? Yes, in such case you could have to make superannuation payments on their behalf! In general, you must pay super guarantee (SG) on top of an…

Read More
realtor, real estate, house-5809182.jpg
Rental Property Tax Deductions Checklist

Deductible Expenses Fees for bookkeeping services, accountants, and accounting softwareRenting out the property is advertisedAgent commissions and fees for property managementBank fees for accounts used for paying bills and collecting…

Read More
real estate, homeownership, homebuying-6688945.jpg
Should You Buy Property Now or Later?

After the Reserve Bank raised the cash rate for the first time in a decade, everyone who has an interest in property is now wondering what happens next? Will the…

Read More
laptop, office, hand-3196481.jpg
How to pick a trustworthy accountant

The decision of an accountant is comparable to that of a new business partner. If you choose the appropriate accountant, they'll become a dependable coworker and advisor who can offer…

Read More
money, home, coin-2724238.jpg
How to get ready for a rate increase

Although it is impossible to completely estimate when interest rates will increase, there are indications that a rise could occur as soon as August 2022. Every homeowner, real estate investor,…

Read More
office desk, man, business-6952919.jpg
8 Reasons Why You May Need a Financial Advisor

To have a comfortable financial future, one needs to have a good financial plan. Comprehensive financial planning allows you to  better manage your finances and avoid a shortage of funds…

Read More
accountant, accounting, adviser-1238598.jpg
Are Financial Advisers Worth It?

It's a huge decision whether to work with a financial adviser or handle your investments independently. Not everyone needs to work with a financial planner or consultant on an ongoing…

Read More
calculator, calculation, insurance-1680905.jpg
Prepare for EOFY – Tax Planning Strategies

As we enter the new fiscal year, we've put together a list of facts to consider when planning your EOFY tax return. If you are considering tax planning issues for…

Read More
Changes to Superannuation

Many changes have been proposed for retirement in 2022. Thanks to the constant changes in the super rules, it's all too easy to miss an opportunity you didn't know existed.…

Read More
house, property, hand-3963987.jpg
A Guide To Buying an Investment Property

Buying an investment property can be an effective strategy for creating wealth and protecting your future. It can help improve cash flow, offers tax benefits, and is considered to be…

Read More
house, real estate, agent-3785933.jpg
First Home Buyers Scheme – Buy your first home with 5% deposit

The federal government has announced that it will expand access to its Home Guarantee Scheme, which lowers the barrier to entry for first-time buyers and single-parent families into the housing…

Read More
zero, percent, hand-4490833.jpg
Fixed vs Variable Interest

Which loan type—one with variable rates or one with fixed rates—should I choose? Many of our clients who are looking to take out a loan ask this question frequently. The…

Read More
build a house, house for sale, house for rent-4503738.jpg
Rental Property Tax Deductions Overview

One of the most important decisions you will make in your life will be the purchase of an investment property. Therefore, it is crucial that you do it correctly. There…

Read More
people, man, woman-2568603.jpg
Our Financial Advice Service

“We'll assist you in building a stable financial future.” We are committed for the duration of your financial strategy. In order to assist you better your current financial situation and…

Read More
purchase, house, house purchase-3347053.jpg
A Guide To Buying an Investment Property

Buying an investment property can be an effective strategy for building wealth and securing your future. It can help improve cash flow, offers tax benefits and is seen as more…

Read More
savings, budget, investment-2789112.jpg
The 120% skills and training tax deduction

Inside this month, we clear the confusion (as much as possible) on the 120% deduction for skills training and technology announced in the federal Budget. We also look at the…

Read More
euro, money, finance-870756.jpg
End of financial year tax tips

Key takeaways:  If you contribute some of your after-tax income or savings into super, you may be eligible to claim a tax deductionMaking a ‘salary sacrifice’ contribution could see you…

Read More
consulting, edp, businessman-3031678.jpg
April 2022 Round Up – Can a beneficiary disclaim an entitlement to a trust distribution?

The Government is in caretaker mode pending the Federal Election…but that doesn’t mean nothing is happening. The High Court decision in Carter & Ors was a win for the ATO…

Read More
calculator, calculation, insurance-385506.jpg
Six End of Financial Year tax tips for small business and soloists

Poor planning is one of the killers of small business. One big item that many small business operators fail to plan for is TAX, writes Sharon Williams, founder Taurus Marketing.…

Read More
Queensland Small Business Grant – Updated May 2022

Are you a Queensland business wanting to build a new website or promote your business online? The Queensland government just made it easier for you. QLD businesses can now apply for…

Read More
finance, bank, banking-4858797.jpg
Investing In Property vs. Shares:Pros and Cons

The time has come: you’re ready to begin growing your wealth and now you have to decide whether you should invest in a concrete asset like property or embrace the…

Read More
business, handshake, business deal-7111764.jpg
Your Financial Advisor vs Your Loved Ones Whose Advice Is Better?

Picture this:  you’re sitting around the table with your friends and family at your weekly Saturday barbeque when someone starts to talk about how well their investment portfolio is doing…

Read More
family, baby, mom-4962874.jpg
6 Steps To Break The Rent Cycle and Land Your Dream Home

Breaking the rent cycle and saving enough to purchase a home of their very own is a financial goal on the agenda of many everyday Australians. But with housing prices…

Read More
entrepreneur, start-up, man-593358.jpg
Keeping Centrelink Updated: Dos and Don’ts

When it comes to the world of Centrelink payments, it can be hard to know what the best practice is for ensuring you’re still on track to achieving financial success…

Read More
bitcoin, cryptocurrency, crypto-3089728.jpg
Three Tax Tips Must Know When Trading Crypto

Under Corporation Act 2001 (Cth), Cryptocurrency is categorised as a financial product. If you’ve bought, sold, or traded any goods in cryptocurrency you have a tax obligation to retain the…

Read More
people, business, meeting-1979261.jpg
Are your contractors really employees?

Many business owners assume that if they hire independent contractors they will not be responsible for PAYG withholding, superannuation guarantee, payroll tax and workers compensation obligations. However, each set of…

Read More
Questions to Ask yourself
6 Questions to ask yourself before buying an investment property

Australia is navigating a pandemic. The Reserve bank keeps interest rates at a record low and ends stimulus as the Australian economy recovers. Inflation surges as housing and fuel lift…

Read More
New-South-Wales
JobSaver 2.0: A billion-dollar support package for Omicron-affected Businesses

According to Sky News political editor Andrew Clenell, the New South Wales government has announced a new JobSaver-type scheme for businesses affected by the Omicron outbreak. Mr. Clennell said he…

Read More
Director Identification Number
Director Identification Number

If you are a company director, you will need to verify your identity as part of a new director identification number (director ID) requirement. This will serve as a unique…

Read More
Top 5 advantages and disadvantages of self-managed super fund

SMSF is highly regulated by authorities, and they are becoming increasingly popular vehicle for people managing retirement savings due to quicker decision making, accountability, protection from creditors, having control and…

Read More
NSW Government assistance for renters and landlords

The NSW Government has announced new support for renters and landlords impacted by the COVID-19 lockdown, including up to $210 million in grants to eligible landlords. Residential tenants will have…

Read More
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…

Read More
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 »

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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,…

Read More
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,…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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,…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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,…

Read More
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…

Read More