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Australian Federal Budget Overview 2024-2025

Australian Federal Budget Overview 2024-2025

  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…

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The Benefits of Outsourcing Your Payroll Processing in Australia

The Benefits of Outsourcing Your Payroll Processing in Australia

  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…

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Tips for Reducing Your Business Taxable Income

Tips for Reducing Your Business Taxable Income

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…

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The Benefits of a Self-Managed Superannuation Fund for Retirement Planning

The Benefits of a Self-Managed Superannuation Fund for Retirement Planning

  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…

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Tips for Choosing the Right Accountant For Your Small Business in Australia

Tips for Choosing the Right Accountant For Your Small Business in Australia

  Accounting and bookkeeping are incredibly time-consuming and technical areas that link to several implications if not done correctly. Behind many successful businesses are outsourced specialists aiming to lighten your workload so you can focus on other crucial aspects of your business. Choosing the correct accountant is a significant decision with the potential to yield numerous benefits, driving your business…

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Small Business Tax Credits for Investing in Energy-Efficient Equipment

Small Business Tax Credits for Investing in Energy-Efficient Equipment

The Australian Taxation Office (ATO) strives to unite up-and-coming businesses in lowering the country’s carbon emissions and making greener choices.  It offers various financial and tax incentives, enabling investments into energy-efficient equipment to yield long-term benefits. Whether you’re a small business owner looking to adopt sustainable practices, seeking tax savings, or both, you’ll want to check this guide.  2 Incentives…

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