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.
A Comprehensive Guide to HECS Repayments for Business Owners and Employees in Australia
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…
Getting To Know PAYG for Employees
As an Australian employee, you’ve probably heard the term PAYG mentioned when discussing your pay and taxes. But what does it mean, and how does it affect you? In this article, we’ll break it down for you so you can understand your obligations and entitlements. What is PAYG? PAYG stands for “Pay As You Go”…
Tax-Free Threshold in Australia: A Business Owner and Payroll Department Guide
As a business owner or accounts professional in Australia, you need to know about the tax-free threshold and how it affects your employees’ pay. And it all starts with the latest information on tax declarations, income assessments, and potential tax liabilities. Out of all these details you need to keep up to date with, the…
The Ultimate Guide to ATO Directors’ Fees (Updated 2024)
Are you feeling uncertain when it comes to paying directors’ fees and being compliant with the ATO? You’re not alone. It’s a question we get asked often – should we pay directors, and if so, how should director fees be paid? Claiming a deduction lowers your overall tax liability, so you’ll want to be clued…
A Simple Guide to NFP Salary Packaging
There are around 600,000 not-for-profits in Australia, which is around 10% of the workforce. But it’s no secret that the wages are nowhere near what you’d get if you worked for a big corporate company. However, the job is way more rewarding for most not-for-profit employees than just a paycheck. Beyond that, the Australian Tax…
Trust vs Company: Critical Pros and Cons of These Business Structures
Like all significant business decisions, deciding between a company vs a trust business structure requires a complete understanding of the advantages and disadvantages of each situation. Our guide is designed to delve into the pros and cons of both business structures, aiding you in identifying the most appropriate choice for your unique circumstances. Differences Between…
The Only Guide You’ll Need On Negative Gearing
So you’ve heard all the hype about negative gearing in Australia and want to know what it’s all about? Or maybe you’re buying a property and trying to decide if negative or positive gearing is for you. This article will explain what it is and who it’s for, share some tips, and debunk some myths…
Stage 3 Tax Cuts in Australia: How Much Will You Get Back?
The government has confirmed that the Stage 3 tax cuts are in place for most Australian workers as of 1 July 2024. These tax cuts were announced as part of the federal budget and aimed to provide financial relief to Australian workers. This article explains the Stage 3 tax cuts, how they affect employees at…
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How to Reduce BAS Payments for Your Business
As a business owner or manager in Australia, one of the most crucial responsibilities you’ll encounter is managing your Business Activity Statement (BAS). Having an Australian business number (ABN) is essential for registering for GST and receiving a BAS automatically when it’s time to lodge. These regular tax obligations are fundamental to running a compliant…
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