Phil Griffiths 
An SMSF is a superannuation fund where the fund members are also the trustees, meaning the members have direct control over the management and investment of the fund’s assets. The Australian Taxation Office (ATO) regulates SMSFs, and they must comply with the Superannuation Industry (Supervision) Act 1993. Individuals, companies, trusts, or partnerships can establish an … Read more
When it comes to managing your finances, it pays to have a professional in your corner. A tradies accountant will help you stay on top of your expenses and maximise your deductions, making it possible to run a profitable business. They provide valuable insights into the financial health of your business, allowing you to identify … Read more
Managing finances is fundamental for the success of any trade business. For tradies without time or expertise in bookkeeping and tax services, a qualified accountant can prove invaluable. Tradie accountants go beyond just filing tax returns. They aid in accounting, bookkeeping, and complex tax matters, providing insights into your business’s financial health. Hiring a knowledgeable … Read more
You set up your dental practice so you can provide the highest quality of dental care to your patients. However, your practice is also a business. For your practice to be successful, you need to have effective management in place. One of these is in the area of finances. Good financial management of your dental … Read more
For many Australians, family trust is a way to structure finances within a household or family. While these can be set up yourself, it is advisable to get them set up by a qualified tax accountant, who can help you take advantage of this structure and avoid common pitfalls. Here are the benefits and risks … Read more
You can use a family trust in Australia as an ownership structure for your family business and your family’s assets. You will be the beneficial owner of the assets and not the legal owner. You can also use a family trust to reduce your taxes and simplify the distribution process of your estate. What is … Read more
Starting a business of your own can be the most terrifying decision you’ll ever make. However, it could also be the one that gives you financial freedom. That said, it is always a good idea to take a calculated risk and build a legacy for yourself. When starting a business, you will have to make … Read more
Essential ABN Info for Tradies Starting Their Own Business As a tradie you have been working for someone else’s business and now you have built the courage and confidence to start your own business? If this sounds like you, here’s how to get started with applying for an Australian Business Number (ABN). It is free … Read more
Tradies usually do not have time or the skills to handle their bookkeeping and tax services or even lodge their tax returns. If they can hire a tradies accountant, however, they would save more time and money. If you do not hire a tax accountant, you are more likely to waste your time and lose … Read more
The business structure can affect the legal costs, tax obligations, asset protection and legal and operational risk of the business. It is, therefore, important for a business owner to choose the right business structure. However, it is difficult to choose a business structure because there are four types of business structures. Here are the four … Read more