When you’re starting or growing a business, choosing the right structure is critical—especially when it comes to tax. Two of the most common options are operating as a sole trader or setting up a company. Each structure has its pros and cons, and the best fit depends on your income, risk appetite, and long-term business […]
As the 30 June deadline approaches, now is the perfect time for businesses to get their finances in order and take advantage of key tax planning strategies. Whether you’re a sole trader, company, or trust, proactive year-end planning can help reduce your tax liability, improve cash flow, and ensure compliance with ATO requirements. This guide […]
We are nearing the end of financial year again. Here are some things to consider to reduce the tax bill or defer some of it to next year: Other things to consider before 30 June:
Tax deductions play a crucial role in reducing taxable income for small businesses. By identifying and claiming eligible deductions, business owners can significantly lower their tax liability and free up resources to invest back into their operations. In this article, we will explore the ins and outs of tax deductions for small businesses, providing valuable […]
Tax planning is an essential aspect of financial management for individuals and businesses. It involves taking steps to minimise tax liability and maximise tax benefits, while also ensuring compliance with tax laws and regulations. Tax planning can provide significant benefits, including financial savings and better control over your finances. We will discuss the importance of […]
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 […]
