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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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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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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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How to Reduce BAS Payments Legally for Australian Businesses

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…

Medicare Levy: The Australian Healthcare Tax

Medicare Levy: The Australian Healthcare Tax

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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Are Division 7A Loans Bad?

Are Division 7A loans bad? This query has echoed louder in the financial corridors with the recent uptick in interest rates. This article unpacks the intricacies and ramifications of Division 7A loans, shedding light on their real impact amidst evolving financial landscapes. What are Division 7A Loans? Division 7A loans are a provision within the…

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