A business can adopt various structures. But choosing one from so many options available can be a difficult task for any owner. Making the right decision about your Business structure is critical, as the type of structure you choose can impact how your business is owned and run, how much tax will have to be…
SMSF is a Self-managed Superannuation Fund that offers a higher degree of flexibility and freedom than traditional Superannuation Funds. In layperson terms, SMSFs are a DIY Super that you or a maximum of six members can manage. In similarity to the traditional Supers, these funds are also set up for the sole purpose of maximising…
Whether large or small, every business experiences a period of turbulence. Thus, companies tend to pursue business restructuring to stay afloat and conduct business more efficiently and profitably. Companies undergo a restructuring process to deal with any weaknesses and inefficiencies. These may include a fall in profit margin, changes in ownership or corporate strategy, or…
Changes to Work From Home Deductions – 2023 An ATO review of the new Work-From-Home Deduction methods were announced by the Assistant Commissioner Tim Loh. As the $0.80 ‘Short Cut Method’ was made redundant after the 30th of June 2022, meaning Tax Returns in 2022-2023 will have to use one of two methods when claiming their…
Many times, businesses feel hiring a tax professional is an unnecessary expense and that they can manage the business finance themselves. However, the reality is quite contradictory. It is always better to hire experts when it comes to real assets, tax obligations, cash flow management, and bookkeeping activities. More than an expense, hiring professional accountants…
Doing a business is not a one time task and requires one hundred percent dedication of the persons involved. If you are a migrant in Australia and looking forward to starting a new business, you should consider taking help from an expert. Whether you want to buy an existing business or want to start from…
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