Charitable donations don’t just support meaningful causes — they can also help reduce your tax bill. For Australian taxpayers, donating to a registered Deductible Gift Recipient (DGR) is a smart way to give back while benefiting financially at tax time. What qualifies? To claim a tax deduction, your donation must be made to a DGR — an organisation approved by…
Generally speaking, it’s not exactly an unusual practice to hire freelancers and contractors when running a business if you’re looking for flexibility and specialised skills in particular. Having said that, there are still a few tax implications that are different from simply hiring employees, so it’s paramount that you’ve got an idea of what these are if you plan on…
Generally speaking, it’s a fairly significant step for any entrepreneur when the prospect of incorporating a business is becoming more and more realistic. The main benefits are obviously the ones that come with having a formal and legally recognised company structure, but like pretty much any business decision, there’s a set of pros and cons that we’re going to need…
You might have it in your head that accountants are just number crunchers who help you be a bit more financially accurate, but nowadays, accountants take on a much more holistic role as strategic advisors who provide all the insights and guidance your business needs to succeed, regardless of your size – this means you’ll not only stay compliant with…
Making a significant amount of dollars each year and knowing how to use it effectively to avoid paying so much in tax are two very different things – take advantage of our expert tax planning tips to save more money come the end of the financial year. Make Additional Contributions to Your Superannuation Fund Being able to grow your…
If you’re someone who has a WFH job, you’ll be fairly happy to know that there are actually a bunch of expenses you can claim tax deductions on, whether it’s your internet, phone, or electricity – you just need to meet a few qualifications: Regularly work from home in order to fulfil your work duties Incur certain expenses due…
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…