Phil Griffiths 
In Australia, residents are fortunate enough to enjoy a relatively high standard of living. The economy is diverse, there are jobs that can provide good incomes, and people can buy more than just the basics. But as any experienced tax accountant would tell you, a good income is only part of the solution – it … Read more
Starting a home business in Australia can be an exhilarating endeavour. However, managing your tax liability in a lawful and efficient manner is crucial to your business’s sustainability. Inadequate financial planning may lead to significant penalties and legal complications. Here, we outline strategies to legally minimise tax liability, ensuring your home business thrives. Business Structure … Read more
Negative gearing is a property investment strategy that many Australian investors use, but it’s often misunderstood. Let’s break it down into simple terms. What Is Negative Gearing? Negative gearing occurs when the rental income from your investment property is less than your expenses (including loan interest, maintenance costs, and other property-related expenses). Simply put, you’re … Read more
Struggling to get your head around Xero? You’re not alone. This cloud-based accounting software has become a favourite amongst Australian small businesses, and for good reason. Let’s sort through the basics to get you up and running with confidence. Getting Started with Xero Before diving into the nitty-gritty, you’ll need to create an account. Head … Read more
Reconciling your bank statements is an essential part of maintaining accurate financial records and ensuring the integrity of your accounting system. Xero, a popular cloud-based accounting software, makes this process relatively straightforward. Here’s a step-by-step guide on how to reconcile in Xero. Read more: What Is Xero? Why Reconcile Your Bank Statements? Before we dive … Read more
You’ve finally taken the plunge and set up your own business in Australia. The ideas are flowing, the passion is palpable, and the sky is the limit. But then comes the daunting stream of paperwork, tax forms, and legal jargon. Sound familiar? You’re not alone. Many Australian startup owners find themselves tangled in the web … Read more
In Australia’s economy, startups often inject innovation, dynamism, and fresh talent. Recognising their potential to redefine industries and contribute significantly to economic growth, the Australian Government offers a plethora of support avenues tailored specifically to foster these burgeoning enterprises. For Western Australian entrepreneurs, navigating government assistance can be a critical factor in their journey toward … Read more
The concept of negative gearing often emerges when discussing property investment in Australia, particularly within Western Australia where property markets can be competitive yet rewarding. Understanding the intricacies of negative gearing can be a powerful asset for those wishing to invest in real estate. Understanding Negative Gearing Negative gearing occurs when the cost of owning … Read more
When it comes to establishing a successful business, the importance of an appropriate structure cannot be overstated. The choice made in structuring a business can determine its efficiency, tax obligations, and legal liabilities. This is where business structure consultants step into the spotlight, offering their expertise to guide entrepreneurs through the myriad of options and … Read more
Bookkeeping is an essential aspect of running any small business. It involves the systematic recording and organisation of financial transactions to ensure accurate financial reporting and compliance with taxation requirements. Effective bookkeeping provides a clear picture of your business’s financial health, helping you make informed decisions and plan for future growth. In this comprehensive guide, … Read more