As you might expect, cryptocurrency and digital asset investments aren’t immune to tax just because they’re in a decentralised market – there are still a specific set of tax rules that the Australian Taxation Office (ATO) set that you’re going to need to understand if you want to trade legally in Australia. Tax Treatment of Cryptocurrencies Cryptocurrencies and digital assets…
However big or small your business might be, you’re going to need some kind of tax plan to not only avoid any non-compliance issues but save money and stay financially stable, too. With that in mind, it’s not always the easiest process to navigate if you’re inexperienced or generally just too busy to put the necessary time towards learning about…
Regardless of what kind of business you own in Australia, Goods and Services Tax (GST) is almost definitely going to impact you at some point in your career – as such, there’s a proper and improper way to handle your GST, and if you do it right, you’ll be able to save your company: Time Money Potential legal complications…
Whether you’re running a start-up or some form of charity, crowdfunding is undoubtedly one of the best ways you can get some quick funds into your business and avoid using some of the more traditional funding methods – that said, it also comes with a range of different tax implications that you’re going to need to understand in order to…
Following the announcement of the new federal budget, Treasurer Dr. Jim Chalmers has outlined some fairly likely expectations you can have for the new growth forecasts and economic conditions – including: Income tax cuts New spending initiatives $9.3 billion overall surplus for the financial year Changes to inflation All in all, from the high cost of living to low-projected…
Whether it’s reducing your overhead costs or improving efficiency more generally, we’d recommend looking into outsourcing your payroll processing if you’re trying to find a better way of running your business and paying your employees. You’ll be accessing a range of different benefits by taking on a strategy like this and, ultimately, transforming the way your business manages your…
The first few operational years are vital to the longevity of startups and new small businesses. Finding ways to reduce your yearly tax bill legally is a great way to raise capital and make better investments. Check out our following tips: Deduct Eligible Expenses Operational expenses, such as electricity, heating and cooling, internet bills, mobile phone usage, equipment, and travel…
Self-managed superannuation funds, or SMSFs, are relatively self-explanatory–they’re private superfunds overseen by you and up to six other trustee members. Each member invests in the fund to build a secure retirement savings pot. If you want better control over your retirement savings, keep reading. We’ll outline an SMSF’s core benefits and highlight what’s involved. 5 SMSF Benefits For Future…
Sole traders are individual business owners who sometimes employ a workforce to provide goods and services to customers. When registering for this business structure, you become liable for paying all work and employment-related taxes, including superannuation. While this can seem like a long line of bills, there are multiple ways to reduce your overall costs. Read on as we confirm…
An asset is a resource or item that holds and yields financial or tangible value. As such, the sale of a business is essentially the sale of an asset, meaning various taxes may apply. With over 25 years of experience helping businesses financially, we understand how much time, knowledge, and resources selling an entity consumes. Find answers to your…