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As we have passed the midpoint of the financial year, it is good time to reflect on the importance for small businesses of being able to navigate the Australian tax system effectively. Understanding the intricacies of tax laws can save you money, streamline your financial processes, and contribute to the overall success of your business.
Read MoreVictoria's new land tax, effective January 1, 2024, poses significant challenges for SMSFs holding residential properties left vacant for more than six months. However, its implications extend beyond SMSFs to encompass trusts holding similar assets.
Read MoreSuperannuation, often referred to as "super," is a long-term savings plan designed to provide financial support in retirement. It's a cornerstone of financial planning, and optimising your contributions can significantly impact the lifestyle you lead in your golden years.
Read MoreThe past year has been an impressive one for the financial markets, marked by significant resilience and growth. The ASX 200 recorded a notable 7.8% rise, its best since 2021; while the S&P 500 surged by an impressive 25%. This growth was fuelled by strong corporate earnings, reduced inflation rates, and an optimistic outlook on economic recovery.
Read MoreSound financial management is a cornerstone of running a profitable and successful business. As business owners make key decisions based on factors such as cash flow and profitability every day, it is important for businesses to have strong bookkeeping and record-keeping processes in place to ensure that the information they are basing these decisions on, is timely and accurate.
Read MoreAs we approach the end of 2023, it's an opportune time to reflect on the financial journey we've embarked on together this year. In this article, we'll guide you through the essential aspects of reviewing your finances and help you set short-term goals for the upcoming year of 2024.
Read MoreThe Australian tax landscape has undergone a significant change with the removal of the Low and Middle Income Tax Offset (LMITO), which was a temporary measure introduced in 2018 to provide tax relief to low- and middle-income earners. The offset, which offered a maximum benefit of $1,500, was phased out in the 2021-22 financial year and no longer applies for the 2022-23 income year onwards.
Read MoreAs we stand on the brink of a new year, it's an opportune moment not just for financial recalibration but for a holistic evaluation of your life. This article will serve as your guide, offering insights into both financial and non-financial goal setting, fostering a harmonious approach to your well-being.
Read MoreThe holiday season is fast approaching, and with it comes the excitement of festive celebrations, gift-giving, and quality time with loved ones. However, it's also a time when many people face financial stress as they navigate end-of-year expenses and holiday spending. To ensure you have a joyful and financially responsible holiday season, it's crucial to create a thoughtful financial plan.
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