Get the latest information on ATO audits, including what happens during an audit, what can be audited, and why
Are you looking to set up a partnership for your business in Australia? Partnerships are a popular choice for entrepreneurs who want to share the load, combine skills and grow their business together. In fact, 97% of Australian businesses have less than 20 employees, so partnerships are a great structure for many entrepreneurs. In this…
Are you looking to change accountants? Is your accountant not responding or taking far too long to get back to you? We often have clients sign up for our services due to a negative experience with their previous accountant or accounting firm. For example, we picked up a new client in the Formwork industry. When…
Hybrid trusts are on the rise in Australia, combining the best of different trust structures. Understanding hybrid trusts could be the key if you’re setting up a trust or looking to get the most out of your current financial arrangements. So, let’s dive in and cover everything you need about hybrid trusts in Australia for…
When running a business, you’re always looking for ways to reduce costs and maximise your bottom line. One often overlooked opportunity is claiming fuel tax credits. Diesel fuel, being a significant part of fuel expenses for many businesses, plays a big role in this context. So, by understanding how fuel tax credits work and following…
Every year, millions of Australians submit their tax returns hoping to reduce their taxable income through tax deductions. Tax deductions can lower the amount of your assessable income that’s subject to income tax, potentially saving you thousands of dollars each year. But understanding what expenses you can claim and how to claim them correctly can…
Ready to start a business in Australia? Learn about the most common types of business structures and the advantages and disadvantages of each type.
If you’re an Australian who attended university, there’s a good chance you have a HECS-HELP debt. The Higher Education Loan Program (HELP) is a key component of Australia’s education loan program help, designed to assist students in managing their university tuition fees. This government loan scheme has helped countless students afford their tertiary education, but…
As a business owner in Australia, you are likely familiar with Business Activity Statement (BAS) payments. Every quarter, you report your business’s Goods and Services Tax (GST), Pay-As-You-Go (PAYG) withholding, PAYG instalments, and possibly other taxes via your BAS. For many businesses, this can feel like a heavy financial burden, particularly if your cash flow…
Do you know that most Australians pay a 2% Medicare Levy on their taxable income? This is essentially how our country funds the public health system. Thanks to this levy, essential medical services are available to everyone. It’s a vital part of our tax system and keeps our healthcare stable and high-quality. What is the…
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