Temporary Full Expensing: What It Was and What It Is Now
Temporary full expensing allowed businesses to instantly deduct asset costs, but it ended in 2023. Here’s what’s changed and how small businesses can plan ahead.
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What Can Teachers Claim on Tax? (+ Checklist)
Did you know that teachers and those working in education are entitled to various industry-specific teacher tax deductions? Understanding common expenses that teachers can claim is crucial for maximising these deductions. These teacher tax deductions can significantly benefit your annual tax return, so it’s worth equipping yourself with the knowledge presented by the (ATO). How do…
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Small Business Handbook | Accounting | BAS, Tax Returns & Financial Statements | Bookkeeping | Contractor Handbook
What Happens During an ATO Audit?
Get the latest information on ATO audits, including what happens during an audit, what can be audited, and why
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Partnership for Business in Australia: What You Need to Know
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…
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Contractor Handbook | Accounting | Guides | Guides | Resources | Small Business Handbook | Small Businesses
5 Important Steps to Seamlessly Change to a New Accountant
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…
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How Hybrid Trusts Work in Australia
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…
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Your Guide to Saving Money on Fuel in Australia with Fuel Tax Credit
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…
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Tax Planning | BAS, Tax Returns & Financial Statements | BAS, Tax Returns & Financial Statements | Contractor Handbook | Small Business Handbook | Tax Planning
How Do Tax Deductions Work in Australia?
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…
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The Most Common Types of Business Structures in Australia
Ready to start a business in Australia? Learn about the most common types of business structures and the advantages and disadvantages of each type.
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HECS Payments Guide for Business Owners and Employees
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…
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