Finding a good business accountant for your small business can seem like an impossible task. With so many accountants out there, it’s hard to know which one is right for you and your company. You could ask around for referrals, but at the end of the day, you need to find a business accountant who…
Claiming fuel tax credit can provide a significant reduction in the amount of tax you pay on your business’s operating costs. Yet, claiming these fuel tax credits is often overlooked by many small business owners. To help make the claiming process a bit easier, we’ve put together an article that breaks down everything you need…
If you’re an entrepreneur or director of a small business, I’m sure you’ve heard about setting up a holding company to reduce risk and minimise tax while your business grows. Many people end up setting up holding companies for the protection it offers, but it’s worth noting that there are limits to that protection. For…
Wine equalisation tax is levied on wine consumption in Australia. Wine production makes up a considerable part of the agricultural industry, contributing over $45 billion annually to the Australian economy., What’s more, according to Wine Australia, the wine industry employs around 163,790 full and part-time employees across the 65 wine-growing regions. Wine equalisation tax (WET)…
Your small business can save considerable amounts of tax each year by implementing effective tax minimisation strategies. Let’s be honest – no small business wants to pay more tax than they have to. Fortunately, there are a few ways you can ensure that you don’t pay more tax than you need to. So, we’ve decided…
A lucrative way to maximise the value of your investments is to be aware of all the tax exemptions and concessions made available to you – especially the capital gains tax property 6 year rule. Yet, we find that many property investors aren’t adequately informed of the significant benefits of the CGT property rule because…
As an investor, there are several property taxes that you need to be aware of, one of them being a land tax. While there may be some exemptions, paying land tax is an inevitable part of owning a property. It can often be overwhelming trying to navigate land tax and how it’s assessed – especially…
Payroll tax is tax payable where a business’s wages exceed specific thresholds that are imposed by each state or territory. According to the Bureau of Statistics, payroll tax represents about 30% of state tax revenue. As a business owner, it’s essential that you’re equipped with all there is to know about your payroll tax obligations. …
As part of the road to recovery from the harsh economic impact of the COVID-19 pandemic, the Australian Government introduced the JobMaker Scheme. The JobMaker scheme is an incentive offered to employers to create new jobs for job seekers between 16 and 35. Eligible employers can receive the payment for up to 12 months for…
Given that every cent counts in the current distressed market, as a small business owner, you’re going to want to figure out how to reduce taxable income for your business. According to a recent report by the Australian Tax Office (ATO), with over four million small businesses in Australia, they play a crucial role in…
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