Tax compliance is an important factor business owners need to consider for maintaining financial health and ensuring long-term success. Let’s face it, we all hustle hard to turn a profit, right? But here’s a zinger – are you giving the same hustle to managing your tax liabilities? Every dollar paid in tax is a dollar
Corporate Trustee vs Individual trustee for Self-managed Superannuation Funds (SMSFs) – what is the better structure for you? Whether you are about to set up an SMSF or are reviewing your SMSF trustee structure, this comprehensive guide aims to provide an in-depth look into the two trustee structures for SMSFs: individual trustee and corporate trustee.
Have you ever felt as though your business’s bank account is never going to improve? You’ve tried dozens of ways on how to improve your cash flow but still no progress? It makes sense that keeping your customers satisfied, handling goods, and juggling invoices would make cash flow seem like an endless struggle. We totally
Are you a business owner who gets overwhelmed when dealing with tax debt? Well, having a tax debt payment plan in place can help alleviate some of that stress and make it more manageable. In this blog post, we will provide you with details on how to understand payment plans and walk you through a
Is your business cyber safe? Businesses of all sizes are easy prey for fraud, scams and cyber crime today. A successful attack can cripple operations, erode customer trust, and inflict severe financial damage. Taking a proactive stance towards cybersecurity is no longer optional – it’s essential for survival. What Are Scams and Cyber Crime? Sure,
Self-managed super funds (SMSFs) are a crucial aspect of Australia’s retirement planning landscape and it’s important to become familiar with two of the most common self managed super fund set up. With the flexibility they offer, many Australians opt for this personalised approach to managing their superannuation. Among the various ways to structure an SMSF,
Buckle up, because the 2024 tax year just rolled in, and it brought some big changes to Fringe Benefit Tax (FBT). This might sound like a snoozefest, but trust me, it’s important. The Australian Tax Office (ATO) decided to shake things up this year. Their goal? More transparency and a revamped tax structure for those
Knowing the pros and cons of SMSF is a fundamental step in responsible financial planning. Self-managed super funds (SMSFs) have become a popular choice for Australians looking to take control of their retirement savings. However, understanding the advantages and disadvantages of SMSFs, as well as how they compare to other superannuation funds, is vital for
Let’s talk about a topic that might not be the most exciting, but absolutely important for your business success- accurate financial record-keeping. Now, before you roll your eyes and start snoozing, have you ever found yourself scratching your head, wondering where your hard-earned money went? Or perhaps you’ve encountered financial roadblocks in your business and
Are you a Self Managed Super Fund (SMSF) trustee seeking further insight on financial decision making and compliance, or are you curious about what is involved in managing your own superannuation? Managing a SMSF carries responsibilities that require careful planning, knowledge, and diligence. The role of an SMSF trustee is central to this process, governing