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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…

Last month, the New South Wales government proposed changes to stamp duty in their budget outlines. The aim is an economic boost for the state, with home buyers being given the choice of paying upfront for stamp duty or opting to pay a fixed amount. This will be a lower property tax paid annually that…

Although the Internet brings many advantages, it also provides an avenue for unscrupulous individuals to attempt to scam innocent people. One of the ways this can be achieved is through phishing: sending a fraudulent electronic communication to an individual that directs them to respond with private information (often financial information or personal details). Once the…

Property investment is an attractive way of building net worth, but first-time investors can often be intimidated by the perceived difficulty of building and managing a property portfolio. This is not surprising since the investment industry loves to use industry jargon to make the process of investing sound more complicated than it is. Take negative…

Although some of the restrictions imposed due to the pandemic have now eased, many businesses are continuing to face significant financial hardship. For some, this means there are difficult decisions to be made regarding taking on new staff and/or retaining existing staff members. Apprentices and trainees are particularly vulnerable: not only are employers reluctantly considering…

We often see the abbreviation Pty Ltd tacked on the end of the names of many companies. We can probably say with some confidence that most people don’t give those six little letters a second thought, if they ever notice them at all. As a business owner, however, this small collection of letters can have…

‘Menstrual poverty’ comes in many forms, primarily poor education on menstruation due to financial constraints and a lack of access to necessary sanitary products, waste management systems and hand washing facilities. It is a global problem affecting millions of women worldwide. One survey of 2000 women aged between 18 and 55 found that nearly half…

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