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
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
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
In today’s fast-paced business landscape, implementing efficient accounting software is crucial for businesses aiming to thrive, particularly in Western Australia. The tools and efficiencies offered by contemporary accounting software transcend mere number crunching, providing organisations with invaluable insights and ease of operation. Let’s delve into why accounting software is indispensable in modern business practices. Enhancing … Read more
Bookkeeping is a cornerstone of any successful business, providing the financial clarity needed to make informed decisions and maintain compliance with Australian tax laws. Whether you are a small business owner in Perth or managing a larger enterprise across Western Australia, understanding the essence of bookkeeping can significantly impact your financial health and business success. … Read more
Navigating the myriad of accounting software available can be a daunting task for any small business owner in Perth. It’s crucial to select a system that not only suits your current financial needs but also grows alongside your business. In this post, we will explore some of the top contenders in the market, helping you … Read more
Starting a new business can be an exciting and daunting journey. As an entrepreneur, you may have a brilliant idea for a product or service, but without a well-structured plan, your business may fail to reach its full potential. A business plan is not only crucial for securing investors and funding, but it also serves … Read more
A Self-Managed Superannuation Fund (SMSF) is a superannuation fund regulated by the Australian Taxation Office (ATO), providing individuals the ability to manage their own superannuation investments within a legal and regulatory framework. SMSFs are typically preferred by individuals seeking greater control over their retirement savings compared to industry or retail superannuation funds. How Does an … Read more
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