Start a 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 salaries. FBT is distinguished from income tax and is calculated on the taxable benefit of fringe benefits. The use of a vehicle for personal

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 storms and floods in Australia.   Increased support for brewers and distillers by aligning the excise refund scheme for alcohol manufacturers with the wine equalisation

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 of your personal assets; and the continuity of the business upon change of ownership. On the other hand, the common mistake that business owners have

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 business structure you can choose are sole trader, partnership, company and a company. You can start as a sole trader, then develop your own business

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 an Australian Business Number (ABN) Register your business name Apply a Tax File Number (TFN)   Decide the business structure Before starting your business, you

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 who carry on a business and distribute income or losses between themselves. For example, if you and a friend or family member decide to set

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 scheme to support businesses and not-for-profit organisations significantly affected by COVID-19, to help keep more Australians in jobs.) in January after releasing a trading update