Blogs

As you are aware, the NSW’s COVID-19 lockdown has been extended for another four weeks, prompting the state and federal governments to announce more financial lifelines for businesses and individuals. FOR INDIVIDUALS If an individual has had their work hours reduced because of the lockdown they will be in line to get additional payments. Those…

How strong is your cash flow management? Particularly when a business is just starting or undergoing some form of transition, cash flow can be a deciding factor in whether it survives. Some people may be asking, what is cash flow? Cash flow meaning in accounting, is defined as the net cash flow coming into and…

Whether you’re investing in crypto yourself, you know someone who is, or you’ve heard about it on the news, cryptocurrency is big business. From highly volatile coins to coins with a steady increase and incredible value, many see bitcoin and similar currencies as a quick and effective way to make cash. But as a relatively…

One of the most important decisions you’ll make when you set up a business in Australia is what kind of structure your business will have, and your choice depends entirely on you and your circumstances. Put simply, it’s a question of whether the business is a separate legal entity to you, or whether you are…

The accounting profession is full of acronyms, phrases and terminologies that can make it difficult for small business owners with little or no accounting experience to understand what’s going on. But while accounting sounds confusing on the face of it, once you understand a few basic accounting concepts, there isn’t all that much to it….

Whether you’re purchasing a home for the first time or planning to relocate to New South Wales, understanding all the costs attached to buying a new property up-front is the best place to start. Like every state in Australia, NSW stamp duty is a specific fee or cost you will pay when purchasing a home….

The tax considerations of being self employed in Australia are unique. Legally minimising your tax burden and taking advantage of every available deduction requires careful and informed forward planning of tax minimisation strategies. If undertaken without professional guidance, tax management can be riddled with missed opportunities for claiming tax benefits. Unanticipated and unnecessarily large tax…

  Are you having trouble deciding on the best trustee business structure to choose for your startup journey or why it’s even important to consider setting up a trust vs a company? Establishing the correct base at the beginning is imperative because if you fail to do so, major (and expensive) setbacks could affect the…

ACN (Australian Company Number) and ABN (Australian Business Number) are two identifying numbers that serve very different purposes. While every Australian business needs an ABN, only businesses registered as companies require an ACN. For someone about to start up a business, or who is considering what structure is going to be most appropriate for their…

For business owners, making superannuation contributions for employees is essential. However, coordinating payments from different super funds can be complex. Thankfully, the Australian Government makes the process less stressful with the Superannuation Clearing House. It’s designed to eliminate red tape and reduce unnecessary overheads for small business owners. In this comprehensive article, you’ll learn what…

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