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 identifier that you will apply for once and keep forever – which will help you prevent the use of false or fraudulent director identities. All […]
Director Identification Number Read More »
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 flexibility and investment choices. Self-managed super fund Self-managed super fund (SMSF) are Private superannuation funds. Your SMSF can have as many as six members. Other
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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 greater protection with a targeted eviction moratorium, which will be implemented through legislative changes. Residential landlords who decrease rent for impacted tenants can apply
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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 2021 COVID-19 business grants program Up to $10,000 cashflow support per week Micro business grants Payroll tax deferrals and a 25% payroll tax waiver Rent
2021 NSW Lock Down Business Support Read More »
Investing in property through a self-managed super fund (SMSF) has grown in popularity in recent years,
A Guide To Buying Property Through An SMSF 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
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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 »