Over the past couple of years, the federal and state governments have provided a lot of support to help businesses navigate through the troublesome time caused by COVID-19. However, there are many other tax incentives that you may not be aware of that are available, and knowing what they are can allow you to enjoy […]
Tax deductions may seem complicated at first, but they’re actually pretty straightforward if you know what you’re doing. To make things easier for you, we thought it would be useful to put together a brief article about how tax deductions work. If this is something that you’re interested in learning more about, read on for […]
Real estate agencies hold many millions of dollars in their trust accounts. These funds are held ‘in trust’ for clients and customers of the agency. It is one of the fiduciary duties of an agent to keep their clients’ funds safe. A fiduciary duty is the highest standard of care in equity or law. Why […]
Small businesses benefit greatly from internal audits, and there are many more advantages than you might realize. In actuality, internal audits are relied upon by the majority of small businesses today. Hiring a specialist to conduct the internal audit is typically helpful for small organizations that have their hands full in various departments. The short […]
If you find yourself with a bigger tax bill than anticipated, don’t panic. With a little bit of planning, you can avoid this common issue for sole traders. All you need are a few software tools and a basic understanding of your tax schedule. Use our practical tips to better manage your income and taxes, […]
Sport is a significant part of Australian culture and social life. It provides entertainment and recreation and contributes to health and well-being. Many sporting clubs, for example, are registered for tax exemption on the basis that they provide or contribute to the provision of facilities and materials, services and education to their members. Those are […]
March 29 2022 treasurer Josh Frydenberg has handed down the budget. Having a strategy of stimulus pursued alongside major infrastructure, health and defense spending. Borders are open and Australia is getting back to business Added to this spending, is the assistance through tax breaks and cash payments to assist with the cost of living…Download our […]
For small businesses, auditing can be extra and unnecessary work. It can be costly, and small businesses would rather not do so, especially if not required. However, auditing can be beneficial for a lot of small businesses. If you consider getting your business audited, check the list below to learn more about how it could […]
A tax deduction reduces taxable income, allowing qualifying businesses and individuals to lower their tax obligations. There are two basic types of tax deduction in Australia: deductions for eligible expenses and tax deductions for specific types of income. If you are preparing your business for tax season, keep in mind that you could get potential […]