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…
We have often heard about the vitality of business planning for companies in their early stages of development. However, business planning never loses its importance at any stage, whether it’s a small, medium or large scale business. Business planning has to have a holistic approach, whether to achieve the temporary survival goal or long-term expansion…
All small and medium-size businesses require funding to operate and grow. While some business owners manage to bring sufficient capital to their businesses, most of them depend on outside sources to have enough working capital. It can be of various forms, such as equity investments, bank overdrafts, loans from credit providers, or cash from friends…
Are you a small business owner? If so, have you been looking for the best bookkeeping service providers to support your business? You might be wondering how vital bookkeeping services are. In this blog post, we will discuss how effective these services can be in helping your organization thrive and grow. First of all, it’s…
Small business owners have to face many challenges to achieve desired growth. One of the main reasons for small businesses to fail is poor financial management. Many firms avoid hiring accountants or take accounting and financial services from professionals. As a small business owner, taking experts’ help on accounting and financial matters might seem unnecessary….
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