Tips for Reigniting Your Savings
It has been reported that 9 out of 10 Australians are unsure of how much money they spend each month. If you are saving for a holiday or a house or a car if you want to make it easier to reach your savings goal it would be a good idea to keep track of […]
Tips for Dealing with Financial Stress
Financial stress can stem from a number of different reasons such as; being stuck in debt, not earning enough to live your desired lifestyle, the expense of raising children or being married to a someone who struggles with money. Here are some tips to help reduce your financial worries and some tips to help you […]
CGT and FBT Exemption Draft Legislation Released
The Australian Government has published two pieces of draft legislation which were originally announced in the most recent federal budget from October 2020. The first piece of legislation which has been released include measures to exempt employers from the 47 percent fringe benefits tax (FBT). The second piece of legislation released provides a capital gains […]
Accounting Advice for Recently Appointed Barristers
Congratulations on your recent appointment, if you have recently been appointed as a barrister, from a business structure perspective you will be operating as a sole trader. You will therefore need to apply to obtain an ABN (Australian Business Number). During your time spent in previous roles of employment you have been operating as a […]
8 tips for managing business finance
Keeping track of your business finance is critical, regardless of whether you run a small business or a large enterprise. Tracking financial metrics may be boring or tedious for some people, but it’s absolutely essential. Why? Because it enables you to know exactly what’s going on with your sales and expenses, and therefore make smarter […]
The Value of your Accountant
Many businesses, especially smaller businesses, aren’t committed to consulting their accountant on a regular basis. This can turn out to be a costly error over the longer time when in fact a trusted and competent accountant helps you understand what’s happening in your business. The advice that your accountant gives you can help you avoid […]
So I’m bankrupt!
Practical action steps for bouncing back Taking practical action steps is as vital as having a positive mindset. Plan for the future with a realistic budget and start rebuilding your credit history by paying your bills on time. Realise you can bounce back after bankruptcy. Whether you’re dealing with personal bankruptcy or a company insolvency, […]
2018 Federal Budget
The item that may receive the most analysis from the whole of this year’s federal budget will be the increase of the 32.5% tax bracket, and an expansion of the Low Income Tax Offset. A win for small businesses in this year’s budget sees the retention of the $20,000 instant asset write-off for another 12 […]