I have been asked numerous times “what can I do to lower my tax bill”. There are various ways to do this, but it ultimately comes down to educating yourself in this area. Lowering your tax bill can be achieved through various strategies that are legal and compliant with tax laws. Here are some tips […]
Fringe Benefits Tax (FBT) is a tax that is levied on the non-cash benefits provided to employees in addition to their salary or wages. FBT is a separate tax from income tax and is paid by the employer, not the employee. Here are some reasons why businesses should consider reviewing their fringe benefits: Compliance with […]
There are several strategies that businesses can review and implement before 30 June to reduce their tax liability and improve their financial position. Here are some things to consider: Prepaying expenses Businesses can review their expenses to ensure they are maximising their deductions. This includes reviewing and prepaying expenses such as rent, insurance, subscriptions, […]
Here are some financing options available for small businesses in Australia: Bank Loans: Small businesses can apply for loans from various banks in Australia. These loans can come with different terms and conditions, including interest rates, repayment periods, and collateral requirements. Government Grants: The Australian government provides grants and funding programs to help small […]
New businesses often have many questions when it comes to their accounting needs. Here are some of the top questions new businesses ask accountants: These questions are just a starting point, and every business has unique accounting needs. An accountant can provide you with personalised guidance and advice tailored to your specific business. Contact […]
Earlier this month, the 2023/24 Federal Budget was released. This includes a substantial improvement in the Federal Government’s fiscal position from the October Budget, primarily driven by significantly higher personal income tax and company tax receipts than originally estimated. This suggests that individuals and businesses have contributed more tax revenue than initially projected, which has positively impacted the […]
