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Property tax can seem confusing, but it’s not impossible to understand. In this blog post, we provide tips on how you can understand these numbers across different states and properties, but it’s worth noting that other factors can sometimes impact these calculations. Property tax rates in Australia for land tax There are four main types…
If you are like most people, when you hear of a tax agent, you probably think of an accounting professional who can assist you with lodging your tax return. This is true, to an extent. While there are many tax agents whose sole skill-sets are taxation and tax law, there are also those whose knowledge…
It’s estimated that real estate agents spend an average of 10 hours per week recording, organising and processing their financial transactions. Real estate bookkeeping is more complex than many other industries because of the need to manage trust accounts and adhere to rigorous compliance requirements. With so many competing demands, it’s no wonder that more…
Imagine you’ve just invested in a property with the plan to develop it and sell it on for a profit, when you’re asked to pay goods and services tax. Australia doesn’t have a universal “property tax”, rather, there are many sorts of taxes that apply to different circumstances. If you’re buying, selling, investing, or simply…
Tax is one of those living expenses that we might not necessarily like paying, but is essential in helping society to function properly. Taxes help both the national or federal and local governments pay for essential local services and projects.
Do you ever wonder how some companies attract top talent without simply offering higher salaries? Or why employees at certain businesses seem happier and more loyal? The secret often lies in payroll tax fringe benefits, which are the perks beyond salary that make work more rewarding while keeping taxation smart and strategic. Under the Fringe…
While taxes may not be the most thrilling of subjects to talk about, it is a necessary factor of a functioning society. Therefore, it is useful to understand the different forms of taxes, and essential if you’re running a small business that employs staff. One of the common areas where people are uneducated is the…
Because one of the most important aspects of your business is your employees, choosing the proper payroll system is critical to ensuring the health and success of your business. Your payroll system is responsible for making sure your employees are properly compensated for their services, your company remains in compliance with governmental regulations and your…
Payroll taxes are the financial obligations you and your employees are required to pay. There are various types of payroll taxes – some paid to the federal government and others paid to the state or territory authorities. There is a specific tax called the payroll tax that is paid to state and territory authorities on…
Does your business owe ATO tax? If your operation owes the tax office $100,000 or more, details of your debt could be passed on to credit reporting agencies by ATO. A debt of this size showing up on your credit report might seriously affect your ability to borrow, potentially putting your future business plans in…