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 […]
What’s new with buying an electric car for your business? Read More »
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 business grants up to $5,000 (Excl. GST) under the Business Basics Grants Program, and use it towards website design and development, as well as SEO
Queensland Small Business Grant – Updated May 2022 Read More »
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
2021- 2022 Federal Budget Overview Read More »
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
Difference Types of Business Structures in Australia Read More »
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
Q and A of Starting a Business Read More »
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
The Process of Register a Business in Australia Read More »
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
Setting Up a Partnership Business in Australia Read More »
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
Why Are Some Businesses Returning JobKeeper? Read More »
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 structures also available for running a business like mentioned in our previous post “comparison-on-business-structures-in-Australia”. Thus a company is still the most common form that people
7 steps to set up a company in Australia Read More »
ABN is an 11-digit number that represents your business to the gov, other businesses and the public in Australia.
How to Register an Australian Business Name (ABN)? Read More »