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Property tax can seem confusing, but it’s not impossible to understand. In this blog post, we provide tips on how you can understand these numbers across different states and properties, but it’s worth noting that other factors can sometimes impact these calculations. Property tax rates in Australia for land tax There are four main types…
If you’ve ever worked for a company that offers private health insurance, gym memberships, or property as part of your employment, then you’ve likely already received some form of payroll tax fringe benefits. As a practice used by many businesses across Australia, fringe benefits are an excellent way to stay competitive, provide added value to…
While taxes may not be the most thrilling of subjects to talk about, it is a necessary factor of a functioning society. Therefore, it is useful to understand the different forms of taxes, and essential if you’re running a small business that employs staff. One of the common areas where people are uneducated is the…
Because one of the most important aspects of your business is your employees, choosing the proper payroll system is critical to ensuring the health and success of your business. Your payroll system is responsible for making sure your employees are properly compensated for their services, your company remains in compliance with governmental regulations and your…
Payroll taxes are the financial obligations you and your employees are required to pay. There are various types of payroll taxes – some paid to the federal government and others paid to the state or territory authorities. There is a specific tax called the payroll tax that is paid to state and territory authorities on…
If you’re a company director for an Australian company, you’ve probably heard about plans to phase in new legislation surrounding Director Identification Numbers. Known as the Director ID scheme, the new rules are designed to ensure directors are held accountable if their business fails. Why is the law changing? Although most company directors take their…
Does your business owe ATO tax? If your operation owes the tax office $100,000 or more, details of your debt could be passed on to credit reporting agencies by ATO. A debt of this size showing up on your credit report might seriously affect your ability to borrow, potentially putting your future business plans in…
Whether you’re investing in crypto yourself, you know someone who is, or you’ve heard about it on the news, cryptocurrency is big business. From highly volatile coins to coins with a steady increase and incredible value, many see bitcoin and similar currencies as a quick and effective way to make cash. But as a relatively…
Whether you’re purchasing a home for the first time or planning to relocate to New South Wales, understanding all the costs attached to buying a new property up-front is the best place to start. Like every state in Australia, NSW stamp duty is a `specific fee or cost you will pay when purchasing a home.…
The tax considerations of being self employed in Australia are unique. Legally minimising your tax burden and taking advantage of every available deduction requires careful and informed forward planning of tax minimisation strategies. If undertaken without professional guidance, tax management can be riddled with missed opportunities for claiming tax benefits. Unanticipated and unnecessarily large tax…