As April 15 looms over, every person is scrambling to find the right professionals for tax preparation. While each firm can appoint an in-house accountant or take the financial books into their own hands, hiring a professional accountant who charges optimally and has experience is always more lucrative. However, the job of an accountant is…
Technology has brought on significant changes in the world. Most professions have adopted this in order to make services more efficient. One such profession would be accounting. In today’s day and age, there are several trends in accounting that rely on comfort and technology. Some of the latest ones are described below in order to…
If you are looking for a way to secure constant income once you are retired, a Self Managed Super Fund is the right choice. However, managing a SMSF is real work. It includes keeping your transactions recorded. This process of keeping your accounts in order is called bookkeeping. Since its inception, Australians have embraced SMSFs…
The much-anticipated federal budget was announced by treasurer Josh Frydenberg bringing in benefits and relief to both citizens of Australia and migrants to the country mainly aimed at bringing Australia out of the Covid pandemic and the detrimental impact it had on the economy as a whole. Under the coalition government tax cut plan lower-…
To comply with current payroll tax laws, Medical and healthcare clinics using service entities to engage clinicians must check their service entity arrangements. If your clinic currently engages clinicians such as medical practitioners and allied healthcare professionals – such as dentists, optometrists, and physiotherapists – the payroll tax authorities within Australia will now be closely…
The market has already started bouncing back. But for most of us, the pandemic has changed the way we run our consulting companies. But that doesn’t mean you need to sit still waiting for things to get back to normal. Play the offence instead. Many companies-including your prospective customers-are facing new challenges. They willingly invest…
Victorian businesses will have access to a $3 billion support program as the Victorian Government announced a third round of the Business Support Fund Grants on Sunday 13 September 2020. The program includes cash grants, cashflow support and tax relief providing additional financial support to businesses impacted by restrictions in Victoria. Grants up to $20,000…
Spring is emerging. Some curves are bending. Some parts around the world are easing the lockdown. Yet families are still suffering under those curves and much of the global economy remains frozen. With each challenging new week of the pandemic, CEOs gradually transition their focus from protecting business to recovery to retooling and asks: How…
A Self-Managed Superannuation Fund (SMSF) is set up to provide benefits during retirement to its members. It is just like a normal Superannuation Fund but with a higher degree of control exercised by its members, who are also the trustees. The trustees can tailor the fund to cater to their respective needs. The definition itself…
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