Blog Posts
All Things Accounting
Tips and stories to demystify individual and business tax, accounting and finance
Franked Income and Dividends: How to Calculate Franking Credits
Are you a shareholder in a company? If so, there are high chances of you receiving dividends along with something called franking credits. But have you ever wondered why these credits are given, how they’re calculated and what kind of benefit they offer for you when you file your taxes? Well, to answer this, you…
Family Trusts in Australia: Setup, Benefits & Tax Advantages
Every business, regardless of its size or scale, faces the risk of financial difficulties, which can disrupt operations. In such situations, the likelihood of asset seizure is also high. By registering a trust in Australia, you can establish a streamlined financial structure that can help protect assets and allow flexible more tax effective income distribution.…
Taxes on Selling a House in Australia: Capital Gains Tax Explained
Looking for buyers to sell your property or house in Australia? Before finalising the buyer, let’s assess your understanding of Capital Gains Tax (CGT) existing in Australia. Not sure about the answers to the questions? Without a clear understanding about the CGT in Australia, taxations could be challenging, leading to loss of funds without any…Using the ATO as a bank is about to get pricey! Tax Office to start denying deductions for ATO interest charges.
Starting July 1, 2025, if you’ve got a tax debt with the ATO, and you’ve been managing to pay it off at a comfortable pace, you need to be aware that the debt could start feeling a lot like a high-interest credit card. Why? Because you won’t be able to deduct the interest on overdue…
Sole Trader Advantages and Disadvantages in Australia
Are you thinking about starting your business as a sole trader in Australia? This straightforward and hassle-free structure is a popular choice among freelancers, small business owners, and entrepreneurs, offering full control over finances, decision-making, and tax management. Introducing Mr. Alex—a full-time employee in the IT sector who recently decided to quit his job to…
DIY vs. Professional Bookkeeping Service. What’s Best for Your Business?
The biggest dilemma every business leader faces is, “Should you manage your own books or hire an expert to handle the chaos? While bookkeeping is a challenging activity, maintaining accurate records is essential for informed decision-making, financial success, and compliance with the latest tax regulations. You may choose to do your own bookkeeping to save…
