26.04.24
The Insights published on our website have been written by our professional staff strictly for educational purposes.
In some cases, Insights may no longer be up to date, and care should be taken when reading the articles. The publication date of each Insight is included for reference.
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Accounting for Home Builders
Could you build a structurally sound house without building plans? Impossible! The same goes for your building business- running a successful company without proper accounting is impossible! The construction industry contributed to 9% of all goods and services produced in Australia in 2022. This statistic highlights the industry’s significant role in the economy, meaning there’s…
Understanding the Changes in the NSW State Budget
Following the announcement of the state budget for 2023-2024, you’re probably trying to get your head around the amendments that are relevant to you. Here are the main points to note: Changes to the Land Tax Exemption for a Principal Place of Residence A minimum ownership requirement is going to come into effect so that…
Outstanding Business Tax Debt
Last July, over 22,000 Australian businesses received warnings from the Australian Taxation Office for having tax debt over $100,000 that is more than three months late. The ATO is on the hunt for a staggering $5 billion owed by businesses fitting this criteria. They’re setting a firm boundary to make things fair for everyone in…
Bookkeeping for Restaurants – How an Accountant Can Help
As a restaurant owner, you want your financial records to be like a masterfully crafted, perfectly seasoned dish, with every number in its proper place and every expense accounted for. But let’s face it, in the fast-paced world of the culinary industry, your finances can sometimes look more like a chaotic kitchen after a Saturday…
Other Insights from Pherrus
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What Can I Claim on Tax: A Comprehensive Guide for Small Businesses
We all know the old saying, “You’ve got to spend money to make money”. Small business owners know it particularly well! You invest a large amount of financial capital into your business to generate profit, like purchasing equipment, hiring employees, and marketing your products or services. These expenses and more can be claimed as tax…
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Tax Brackets Australia 2024-2025: New Updates and Cost of Living Benefits
Unfortunately, we’ve all been feeling the pinch of the rising cost of living in Australia. We could use some good news in this regard, right? Well, here it is! The Australian Taxation Office (ATO) has updated the tax rates and brackets for the 2024-2025 financial year. With these adjustments, many Australians will see a reduction…
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What Is Equity, and How Can It Transform Your Finances?
Your home is more than just the place you live; it’s a goldmine quietly increasing in value. Property equity is a powerful asset that can offer you financial security and unlock exciting opportunities in ways you might not have imagined. What is equity, how does it work, and how can you leverage it to your…