Breaking Free from Tax Stress: How BOA & Co. Can Help Small Business Owners
Tax Stress in Australia: A Growing Pandemic for Small Business Owners Across Australia, small business owners are grappling with a tax crisis that’s almost as prevalent as any health pandemic.…
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Your Property Budget Just Got Bigger: Make the Most of Tax Cuts with BOA & Co.
Starting next month, Australian earners are set to benefit from the long-anticipated stage three tax cuts, potentially enhancing their home-buying prospects. New analysis from PRD Real Estate reveals that these…
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Mortgage Stress Eases as Tax Cuts Offer Relief to Homeowners
Good news for Australian homeowners: mortgage stress is showing signs of easing, and one key driver behind this is the recent implementation of the stage three tax cuts. These cuts…
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Could Australia Adopt Joint Tax Returns for Couples? How BOA & Co. Chartered Accountants Can Help You Navigate Potential Tax…
As the cost of living continues to rise in Australia, many families are exploring ways to reduce their financial burdens. One topic of discussion has been whether joint tax returns…
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Season of Giving or Scamming? BOA & Co.’s Guide to Avoid Holiday Ripoffs
As we approach the holiday season, Australians are gearing up for festive shopping sprees. Unfortunately, while many are looking forward to securing great deals during events like Black Friday, scammers…
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Protect Your Assets: The Top 7 Benefits of a Family Trust
When it comes to safeguarding your family’s future, a family trust is one of the most powerful and effective tools available. Many people mistakenly believe that trusts are only for…
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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…
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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…
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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,…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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How to Create a Financial Plan for Your Business – The Easy Way
The thought of creating a financial plan might feel overwhelming, especially if accounting isn't your strong suit. But don’t worry—we’re here to make the process straightforward and easy to understand.…
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2024 Housing Market Update: Mid-Year Analysis and Forecasts
As we reach mid-2024, it's time to revisit our predictions from the last Boom and Bust report released in November 2023. Typically, by this point in the year, some scenarios…
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Secure Extra Savings with August 2024 Home Loan Cashback Deals
If you're in the market for a new home loan or considering refinancing, cashback deals can offer a significant financial boost. These offers can help cover upfront costs, reduce your…
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Key Tax Updates for 2024: What Australian Businesses Need to Know
As we move through 2024, staying informed about the latest tax updates is crucial for Australian businesses. The tax landscape is continuously evolving, and keeping up with these changes can…
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Government Grants and Incentives for Australian Businesses in 2024
As Australia continues to foster economic growth and innovation, the government offers a range of grants and incentives to support businesses across various sectors. These programs are designed to help…
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Take Charge of Your Mortgage: How Mortgage Holders Can Secure Their Own Rate Cut
Variable-rate mortgage holders who are waiting for relief from the Reserve Bank of Australia (RBA) might find themselves needing to explore alternative solutions. With the RBA signaling that a rate…
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Time Management for Business Owners: Boost Productivity and Efficiency with BOA & Co.
Time is a finite resource, and for business owners, it is one of the most valuable assets. Effective time management is essential not only for personal productivity but also for…
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Why a Self-Managed Super Fund Might Be the Right Choice for You
In Australia, more and more individuals are opting to take control of their superannuation through Self-Managed Superannuation Funds (SMSFs). With nearly a third of all superannuation funds now held in…
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How Family Trusts Can Protect Your Wealth and Minimize Taxes
Family trusts have become an increasingly popular tool for managing and protecting family wealth in Australia. This estate planning strategy offers significant tax advantages and asset protection, making it a…
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The Impact of Recent Tax Reforms on Small and Medium Businesses in Australia
In recent years, the Australian government has implemented a series of tax reforms aimed at stimulating economic growth and providing relief to businesses, particularly small and medium enterprises (SMEs). These…
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Innovating Hope in Housing: Tim Buskens’ Journey from Finance to Social Impact
In today’s ever-evolving financial landscape, stories of individuals who break away from the norm to create impactful change are both inspiring and essential. Tim Buskens, the CEO and founding director…
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Getting on Top of Debt: A Guide to Financial Freedom
Debt can be a significant hurdle on your path to achieving financial stability and reaching your goals, such as saving for a home deposit or securing a mortgage. With the…
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The Complete Guide to Share Disposal and Tax Reporting
Understanding Share Disposal Disposing of shares is an essential aspect of managing your investment portfolio. Whether you're selling, gifting, or transferring shares, it's crucial to understand the financial implications, particularly…
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What’s Your Business Worth? 6 Ways to Find Out
What Is a Business Valuation? A business valuation estimates the monetary worth of an enterprise. This value is crucial for various purposes, including financial reporting, dividing shareholdings, selling all or…
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Boost Compliance and Accuracy: How to Improve Your Company’s Tax Accounting
Effective tax accounting is a complex and high-stakes function. The accuracy of tax provisions is critical to financial reporting, yet vulnerabilities exist due to the reliance on spreadsheets and the…
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Stay Organized: Key Tax Dates in Australia for the 2024-2025 Financial Year
Understanding the intricacies of tax dates in Australia can save your business money and ensure you avoid any penalties. Staying organized and informed about these dates will make the process…
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The Maths of Rentvesting in 2024: Is It Still Worthwhile?
Rentvesting – renting a home where you wish to live while buying an investment property elsewhere – is often touted as a strategy for first-time homebuyers to get into the…
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Experts Predict RBA to Maintain Cash Rate at 4.35%
Mortgage payers have been warned against complacency, despite expected welcome news around Tuesday’s all-important cash rate announcement. Economists and experts have tipped that the Reserve Bank of Australia (RBA) will…
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RBA Meeting Insights: Will Your Mortgage Rate Go Down?
Anyone with a home loan right now is likely to be feeling the pressure from the rising cost of living and will be hoping their interest rates will go down.…
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Debt and Deficits: A Looming Threat to Global Financial Stability
Persistent budget deficits may trigger the next global financial crisis, as investors could lose confidence in government debt, warned John Simon, the outgoing head of research at the Reserve Bank…
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Get Ready for Tax Season: ATO Pre-Filled Returns Available
The Australian Taxation Office (ATO) has officially opened the gates for Australians to submit their tax returns, especially for those with straightforward tax situations. ATO Assistant Commissioner Rob Thomson announced…
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NALI/NALE: Navigating the New NALI/NALE Rules for SMSFs
Understanding the Practical Application of SMSF Expense Regulations The Australian Parliament has recently passed significant reforms to the non-arm's length expense rules for self-managed super funds (SMSFs), effective from the…
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Master Your Taxes: Essential Checklists for 2024
Our tax tools and resources hub is proud to offer a range of practical resources to assist you with your tax obligations. Among these resources are the income tax checklists…
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ATO Cracks Down on Rental Property Tax Compliance
The Australian Taxation Office (ATO) has placed rental property owners in its crosshairs after discovering that nine out of ten tax returns involving rental income and deductions contain at least…
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Maximize Your Tax Savings: Claim a $20,000 Deduction in the 2024 Financial Year
The Australian Government's decision to increase the instant asset write-off threshold from $1,000 to $20,000 for the 2023-24 financial year brings significant advantages for small businesses. This article will delve…
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Finding the Right Payroll Provider: A Business Owner’s Guide
Struggling to find the best payroll providers in Australia? With ever-changing regulations on benefits, salaries, and complex tax due dates, finding the right payroll provider in Australia is crucial for…
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Cash or Accrual Accounting? How to Choose the Best Method for Your Business
Choosing between cash and accrual accounting goes beyond mere financial reporting; it significantly impacts your Anti-Money Laundering (AML) compliance. The accounting method you select influences how your business tracks and…
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SMSF Compliance: What Happens When Trustees Move Overseas
Residency Rules for SMSF Trustees Living Overseas If you're an SMSF trustee planning to live overseas for an extended period, maintaining your super fund’s status as an “Australian superannuation fund”…
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The Fundamentals of Accounting Principles: What You Need to Know
What Are Accounting Principles? Accounting principles are the established rules and guidelines that companies and other organizations must adhere to when reporting financial data. These principles standardize accounting methods and…
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How Cash Flow Management Can Make or Break Your Ecommerce Business
Managing cash flow effectively is crucial for the success of any business, but it's especially vital for ecommerce businesses. Here’s why ecommerce cash flow management is so important and how…
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Get Ready for Tax Season: Key Strategies for Small Business Success
With tax time around the corner, it’s time to start getting your records in order for your 2023-24 tax return. The Australian Taxation Office (ATO) wants to make it as…
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Effective Methods to Track Sales Tax (GST)
Tracking sales tax, also known as Goods and Services Tax (GST), is crucial for businesses operating in Australia. Accurate tracking ensures compliance with tax regulations and helps in maintaining transparent…
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How to Minimize Capital Gains Tax with Super Contributions
No one enjoys paying taxes, and Capital Gains Tax (CGT) often tops the list of least favourite taxes. However, CGT has some redeeming features: it’s only payable when you dispose…
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Is a Family Trust Right for You? Key Insights on When, Why, and How to Set One Up
A family trust can be an excellent way for parents and small business owners to protect their children's financial futures. However, they are not a guaranteed safeguard. So, should you…
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How the 15-Year Small Business CGT Exemption Can Help Boost Your Super
Throughout their careers, many small business owners reinvest all surplus funds back into their business, intending to use the proceeds from its sale for retirement. This strategy can be highly…
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Understanding CGT Concessions: Eligibility for Multiple Business Owners
A comprehensive guide on which CGT concessions you can and can’t access when considering selling your business. Selling a business often leads to a significant capital gain, which in turn,…
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Dollar Remains Steady as Aussie and Kiwi React to China’s Economic Moves
The Australian and New Zealand dollars struggled near multi-week lows on Tuesday after China’s unexpected move to cut several key interest rates. Meanwhile, the U.S. dollar remained relatively unchanged as…
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Financial Risk Management: Why It Matters and How to Do It Right
What Is Financial Risk Management? Financial risk management involves identifying the potential downsides in any investment decision and deciding whether to accept the risks or take measures to mitigate them.…
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Staying Ahead: Key Trends and Hot Topics in the Australian Financial Market
The Australian financial market is a dynamic landscape that continually evolves, presenting both opportunities and challenges for investors, businesses, and financial professionals. Staying abreast of the latest trends and hot…
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ATO’s Key Tax Compliance Focus Areas for 2024
Every tax season, the Australian Taxation Office (ATO) zeroes in on specific areas where taxpayers are prone to making mistakes, either accidentally or intentionally. For 2024, the ATO's primary focus…
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Rising Demand for Bookkeepers in Australia
Australia’s thriving economy and diverse business landscape ensure that the demand for bookkeepers remains robust. With businesses of all sizes seeking to maintain accurate financial records, bookkeepers play an essential…
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Consequences of Providing the Wrong ABN for Your Super
Providing the correct Australian Business Number (ABN) for your superannuation is crucial to ensure that your contributions are processed correctly. An incorrect ABN can lead to a range of issues…
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What is the Year-End Financial Reporting Process?
Year-end financial reporting is a crucial process for businesses of all sizes. It involves preparing and presenting a company’s financial statements at the end of its fiscal year. These reports…
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The Importance of Hiring an Accountant for Your Company Tax Return
Do I Need an Accountant for a Company Tax Return? Filing a company tax return is a significant responsibility for any business owner. While it might be tempting to handle…
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The Importance of an Accountant for Your Small Business
Do I Need an Accountant for a Very Small Business? When running a very small business, you may wonder if hiring an accountant is necessary. After all, your operations might…
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The Importance of a Small Business Tax Accountant for Your Financial Success
Engaging a small business tax accountant is more than just a step towards compliance; it’s a strategic decision that can shape the future of your business. A skilled accountant ensures…
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Mastering Tax Planning: Essential Strategies for Financial Success
Tax planning is a critical aspect of financial management, helping individuals and businesses optimize their tax liabilities and maximize savings. By strategically organizing your finances, you can ensure compliance with…
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Family Fund: Ensuring Financial Security for Your Loved Ones
In today’s fast-paced world, securing your family’s financial future is more crucial than ever. A family fund is an excellent way to ensure that your loved ones are financially protected…
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ABNs: What Every Australian Business Needs to Know
Understanding an ABN An Australian Business Number (ABN) is a unique 11-digit identifier issued by the Australian Business Register (ABR) and operated by the Australian Taxation Office (ATO). It is…
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2024 FY Income Tax Return Can Be Lodged NOW: Get Your Refund Back Sooner with BOA Accountants
The new financial year has begun, and it’s time to lodge your 2024 FY income tax return. Don’t wait until the last minute – getting your tax return in early…
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The Right Time to Establish a Subsidiary and the Benefits it can Bring to your Business
Creating a subsidiary can be a strategic move for businesses looking to expand, manage risk, or streamline operations. However, it's crucial to understand the right circumstances and timing for establishing…
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Understanding Changes to Casual Employment and Independent Contractor Definitions
What Do I Need to Know About the Changes to Casual Employment and Independent Contractor Definitions? Recent legislative changes have redefined casual employment and independent contractor definitions in Australia. These…
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How Will the Super Guarantee Rate Change Affect My Business?
How Will the Super Guarantee Rate Change Affect My Business? The superannuation guarantee (SG) rate in Australia is set to increase, which will affect employers across the country. As a…
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Retail Super Funds Outshine Industry Rivals with Tech-Driven Gains
In 2023-24, two of Australia’s largest retail superannuation funds outperformed the sector, delivering returns exceeding 11%, fueled by a surge in technology stocks. This success came as their industry fund…
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How Does Inflation Affect Stocks?
Inflation has become an obsession for professional investors and consumers alike since 2022. Concerns about the economic impact of rising prices—and their remedy, higher interest rates—have weighed on stocks, plunging…
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Unit Trust vs Discretionary Trust: What’s Right for You?
Unit trust vs discretionary trust – they sound pretty similar, don’t they? But they’re actually quite different. And knowing which one’s right for you can make a huge difference in…
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Capital Gains Tax on Property in Australia
Capital Gains Tax on Property in Australia Capital gains tax (CGT) is a crucial consideration for anyone buying, selling, or investing in property in Australia. Understanding how CGT works can…
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The Importance and Purpose of Balance Sheets for Businesses
A balance sheet is a critical financial statement that provides a snapshot of a company's financial position at a specific point in time. It is one of the core components…
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The Essential Role of a Bookkeeper or Accountant in Your Business
Why Do I Need a Bookkeeper or Accountant? Running a business involves managing numerous tasks, from overseeing operations to handling customer relations. Among these tasks, financial management stands out as…
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Corporate Finance: Key Concepts and Importance
Corporate finance is a critical area of finance that deals with how corporations handle funding sources, capital structuring, and investment decisions. It involves managing the necessary actions to maximize shareholder…
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Cash Flow Management: Why It’s Crucial for Business Success
Cash flow management is a fundamental aspect of running a successful business. It involves tracking the inflows and outflows of cash to ensure that a company has enough liquidity to…
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How Small Businesses Can Reclaim GST: A Comprehensive Guide
Running a small business comes with numerous financial responsibilities, including managing the Goods and Services Tax (GST). Understanding how GST works and whether your small business can claim it back…
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Maximize Your Tax Cuts to Pay Down Your Mortgage Faster
The upcoming tax cuts, effective July 1, 2024, have been generating significant buzz. Beyond simply increasing your disposable income, these cuts present an excellent opportunity for homeowners to shorten their…
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Understanding PAYG Withholding on Your Payslip
When you receive your payslip, you may notice a section labeled "PAYG withholding." This can be confusing if you're not familiar with tax terminology. Here's a straightforward explanation of what…
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Understanding the Different Methods of Tax Accounting
Tax accounting is a specialized area of accounting focused on preparing tax returns and ensuring compliance with tax laws. It involves keeping records and preparing reports that detail income, expenses,…
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The Role of Business Accounting
Business accounting, often referred to as management accounting or corporate accounting, plays a vital role in the strategic management and financial health of an organization. Unlike financial accounting, which focuses…
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Understanding the Differences Between a Financial Accountant and a Business Accountant
In the world of accounting, two key roles often come into play: financial accountants and business accountants. While both are crucial to the financial health of a company, they have…
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Last-Minute Ways to Boost Your Finances Before EOFY
With the financial year ending soon, there are still plenty of ways to reduce your tax and boost your superannuation before July 1. Here are some last-minute tips to help…
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How Do You Actually Spend Your Super? Here’s All You Need to Know
Transitioning from the accumulation phase of superannuation to the retirement phase can seem daunting, but understanding the process can help you effectively manage and enjoy your retirement savings. Here’s a…
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SMSF Setup Guide: 9 Steps You Need to Follow
So you’ve decided to join more than one million Aussies with a self-managed super fund (SMSF). Congratulations! Having your own SMSF can be a personally and financially rewarding experience, provided…
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Could a Self-Managed Super Fund Be Right for You?
For the majority of us, we’re perfectly happy having our super paid to our chosen fund, which will invest it as directed and, generally, get us a good return by…
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Inflation Hits Six-Month High, Raising Risk of a Rate Rise
Investors now believe there is a one-in-three chance of an August interest rate rise after inflation surged to its highest rate in six months in May. Economists have warned that…
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Develop a Solid Business Plan for Your Aussie Home Business
Develop a Solid Business Plan for Your Aussie Home Business You’ve found your perfect home-based business idea. Congrats! You’re on the right path to realizing how to set up a…
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Managing Your Business Finances and Seeking Funding
Managing Your Business Finances and Seeking Funding Want your Aussie home-based business to thrive? Focus on smart money moves. Create a rock-solid financial plan, hunt down the best funding options,…
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Full Compliance with Rules Required for SMSF Trustees Investing in Overseas Property
SMSF trustees can invest in overseas property, but they must adhere to compliance rules both domestically and internationally, according to a legal expert. Daniel Butler, director of DBA Lawyers, notes…
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Understanding Payroll Tax: Essential Information for Employers and Employees
Ever wondered why your pay slip includes a payroll tax line item? Or as an employer, struggled with accurately calculating and paying this tax? Payroll tax is a fundamental aspect…
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8 Essential Trust Compliance Activities to Complete Before EOFY
If you use trusts as part of your business or personal investment structure, it’s crucial to address several key compliance activities as the 2024 financial year approaches. Our experts have…
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Online Shop Taxes Australia: All You Need to Know in 2024
Online shop taxes in Australia got you stressed? We understand. From GST to income tax, navigating these waters can be overwhelming. But don't worry, we're here to simplify it for…
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10 Benefits of Payroll Outsourcing for Your Business
As a business owner, managing payroll can be a real challenge. It’s time-consuming, and complex, and even a small mistake can be costly. But there's a solution to take the…
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Harness the Benefits of Hiring a Tax Accountant for Your Business
Are you finding it challenging to manage your business finances and navigate complex tax laws? Hiring a tax accountant could be the solution you need. In this blog post, we’ll…
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Tax Accounting in Australia: Key Points You Need to Know
Tax accounting is crucial for maintaining financial order. Whether you're a small business owner, freelancer, or just looking to manage your taxes better, we have the information you need. This…
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Understanding PAYG Tax: Pay As You Go Taxes Explained
Looking to understand PAYG tax? We’ve got you covered! Pay As You Go (PAYG) tax is an Australian system designed to help you manage your income tax obligations throughout the…
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Maximizing GST Refunds for Small Businesses in Australia 2024
Understanding GST: Goods and Services Tax (GST) stands as a pivotal taxation component in Australia, applying a 10% levy to most goods, services, and transactions. For small business owners, comprehending…
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Optimizing E-commerce Accounting: Strategies for Online Success
Whether you're a seasoned entrepreneur or just dipping your toes into the world of online sales, tackling accounting can feel like wading through murky waters. But here's the truth: mastering…
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Best Way to Invest $50,000 in Australia
Investing a lump sum, such as $50,000, can be daunting yet rewarding. Before diving in, consider crucial factors like risk tolerance, investment timeframe, and financial goals. Seeking professional advice ensures…
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How to Invest in ETFs in Australia: A Comprehensive Guide
ETFs, or exchange-traded funds, have gained significant traction among investors since their inception in 1993. These funds, which track specific indices, sectors, or commodities, offer a cost-effective and accessible way…
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A Comprehensive Guide to Investing Money in Australia
Saving and investing money can pave the way for achieving long-term financial goals. From saving for a comfortable retirement to generating additional income, investing wisely is crucial. Here’s a breakdown…
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Best Long-Term Investments: A Practical Guide
In a climate of persistent inflation and recent interest rate hikes, opting for long-term investments over short-term ventures can offer stability and potential growth. With interest rates peaking and inflation…
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Stage Three Tax Cuts: What’s Changing and How It Impacts You
Prime Minister Anthony Albanese recently announced changes to the stage three tax cuts in Australia, aiming to provide more benefits to lower and middle-income workers. Originally introduced by the Morrison…
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Tax Brackets for 2023-2024: What You Need to Know
Income tax is a reality for working Australians, and the amount you pay is determined by your earnings. This system, known as progressive taxation, means higher incomes incur higher taxes.…
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Navigating Tax Compliance for Freelancers and Independent Contractors: A Comprehensive Guide to Managing Your Tax Obligations
Freelancers and independent contractors enjoy the freedom and flexibility of working for themselves, but with this independence comes the responsibility of managing their own taxes. Navigating tax compliance can be…
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Understanding Investment Options for Entrepreneurs: A Guide to Building Wealth and Growing Businesses
As entrepreneurs embark on their journey to build successful businesses, they often encounter the need to make strategic decisions about how to invest their capital. Understanding investment options is crucial…
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Tax Planning Strategies for Individuals and Businesses
Effective tax planning is essential for individuals and businesses to minimize tax liabilities, maximize savings, and achieve their financial goals. With careful consideration of tax laws and regulations, strategic tax…
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The Impact of Digital Transformation on Accounting Practices
In today's rapidly evolving business landscape, digital transformation is revolutionizing various industries, including accounting. From cloud-based software to artificial intelligence, technological advancements are reshaping traditional accounting practices. This article explores…
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The Importance of Accurate Bookkeeping in Financial Management
Accurate bookkeeping is the cornerstone of sound financial management for businesses of all sizes. From small startups to large corporations, maintaining precise records of financial transactions is crucial for making…
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Accounting 101: A Comprehensive Guide for Business Success
Accounting forms the bedrock of financial health for any business, influencing everything from profit margins to investor confidence. In this comprehensive guide, we delve into the fundamentals of accounting, its…
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Want to pay less tax? This sacrifice could be worth making
At first glance, "salary sacrificing" might sound like the last thing you'd want to do. But in reality, this strategy—also known as salary packaging—can be a smart move, especially when…
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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…
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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…
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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…
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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…
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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…
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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:…
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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…
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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…
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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…
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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,…
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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…
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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…
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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.…
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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…
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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 MoreChoosing 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…
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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…
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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…
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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.…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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. …
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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…
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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…
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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…
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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…
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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…
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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…
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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?…
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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…
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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…
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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…
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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…
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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…
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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…
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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,…
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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…
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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…
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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…
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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.…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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.…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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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