Self-managing your superannuation comes with a number of benefits: You have the final say over where your money goes More control over your tax position The ability to pool your super with others and access bigger opportunities However, it also comes with some disadvantages - namely, the fact that you’ll have to do a lot more work compared to an [...]
While everyone’s been hit by COVID-19 differently, there’s one thing that pretty much everyone’s had to wrestle with. Specifically, the fact that a lot of people are taking a good, hard look at their finances. Thanks to the changed economic outlook and the new glut of spare time, many people are looking at ways to financially get through these times. [...]
Super is on everyone’s minds at the moment - little surprise, given the current economic outlook. According to some reports, 2.6 million Australians have applied for early access to their super, for a total of $42 billion. However, that isn’t the only way people have been using their super to get through tough times. One of the advantages of an [...]
Another financial year, another article talking about the benefits of single touch payroll. We know, we know, we’ve already covered this topic before (twice, as a matter of fact). Take our word for it however: there’s a very good reason we’re retreading this topic again. Single touch payroll is a huge help when it comes to your tax reporting. And [...]
When you first commit to losing weight, you track your calorie intake as well as your kilos. When you bring your newborn home for the first time, you no doubt keep track of their size and weight, comparing these against the averages. Your startup is no different. Starting a business is a major endeavour. Sure, you’ve got a great idea [...]
Starting up your own business is a big decision, and one that comes with considerable risk. You’ll need to: Arrange financing Find a commercial property Get your ABN and employ staff Come up with systems and procedures Buy equipment and supplies Importantly, figure out what tax obligations you’ll need to meet We know, you don’t really like thinking about tax [...]
Did you know? 1 in 4 Australians worry about money on a daily basis - a number that has almost certainly gone up due to our current climate. Financial stress is one of the worst kinds of problems that you can face - one that’s made worse by generally low levels of financial literacy among most Australians. However, there are [...]
Sure, we may only be in April right now. However, with the months rapidly passing - can you believe we’re almost in May? - it won’t be long until it’s time to file your tax return. In particular, you’ll want to start looking into what deductions you qualify for, as well as what documents and the like you’ll have to [...]
With each new financial year comes a new raft of proposed changes to taxes and superannuation. And the financial year beginning July 2019 is no different. While most Australians are no doubt familiar with the Government’s proposed tax cuts which are due to come into effect over the coming years, one change that fewer people are aware of are the [...]
During the last couple of weeks, you may have received a letter from the ATO in the post. Inside, you’re greeted with a message informing you that you’ve run afoul of the ATO’s automated data-matching system. As part of the ATO’s recent crackdown on dodgy tax claims, more Aussies than ever are expected to receive copies of this letter. But what [...]
