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News & Articles on Finance & Business, Accounting, Taxation, SMSF & more

Woman Checking Sales Records

Business Advice For SMBs In 2022: Grow Your Business

December 28, 2021 No Comments

When Auld Lang Syne plays at the stroke of midnight this year, there will be a sense of hope and relief for many small businesses. Next year promises to deliver better opportunities than the previous two, as the spectre of the pandemic lifts, vaccination rates improve, borders re-open and the threat of lockdowns starts to (hopefully) fade away. It means there should be economic opportunities for SMEs to begin to grow again, rather than just survive, which will be the

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SMSF property investment

Investing In Property With An SMSF: Everything You Need To Know

November 22, 2021 No Comments

In recent years, investing in property through a self-managed super fund (SMSF) has increased in popularity, as it is now possible for SMSFs to borrow money to pay for a direct property purchase. In this blog, we’ll be looking at everything you need to know about SMSFs. Table of Contents What Is A Self-Managed Super Fund (SMSF)? How To Buy Property With An SMSF Is It Worth It? How Much Money Do I Need In My SMSF To Buy A

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Calculator And Medical Billing Statement

Which Medical Expenses Are Tax Deductible?

October 28, 2021 No Comments

The deadline for lodging this year’s tax return is coming closer and many of those who haven’t lodged their tax return yet are trying to figure out what they can claim as tax deductions. While we all know that we can claim work-related costs as tax deductions, many aren’t sure if certain medical expenses can also be claimed on a tax return. If you’re wondering what kind of medical expenses are tax-deductible and how much you might be able to

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Accountant Using A Calculator

Tax Accounting Vs Financial Accounting: Understanding The Differences

September 15, 2021 No Comments

When it comes to accounting, there are two main types of accountants: tax accountants and financial accountants. Both accountants work with numbers, but there are several differences that should be considered when deciding which type of accountant you should hire for your company. In this blog, we’ll be taking a look at some of the differences between tax accounting and financial accounting to help business owners make better decisions about their finances. Table of Contents Defining Both Forms Of Accountancy

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Income Tax Return

A Step-by-step Guide To Lodging An Individual Tax Return

August 19, 2021 No Comments

Every year, thousands of tax returns must be filed by resident and non-resident Australians. Australian tax law dictates that residents earning over AUD 18,200 per year – the tax-free threshold – must file a return, while non-residents earning AUD 1 or more must file an individual tax return. Australia’s tax year is a 12-month period that runs from 1 July to the 30 June the following year; if you are required to fill in a tax return according to the

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A Lot Coins In Glass Money Jar

Can You Withdraw Money From Your Super Or SMSF?

July 20, 2021 No Comments

There are many legalities surrounding self-managed super funds (SMSFs) and other super accounts that it can often be difficult to know where to start. Here are the ins and outs regarding SMSF and super withdrawals to avoid steep financial penalties. Table of Contents What are the rules? What is a lump sum? At what age can you withdraw money from your super and SMSF? In what situation can you withdraw money early? COVID-19 Financial hardship Temporary/permanent incapacity Medical grounds How

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