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
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
At Griffiths Advisory, we understand the complex financial needs of medical professionals and doctors. If you are one of the medical professionals who have the stress of complex financial needs, the best solution is to hire a specialised tax accountant to help achieve your personal and business goals. We help medical professionals secure their financial … Read more
Specialised tax accountants help doctors and medical practitioners perform tax accounting duties and prepare quarterly and annual tax provisions. They help doctors and medical practitioners minimise their tax and position them to grow real wealth.However, many doctors and medical practitioners do not know about the services of specialised tax accountants since they spend more time … Read more
The world of finance has many roles and terms that all entrepreneurs need to understand. This is because even small businesses need financial and tax services at one point or another. Terms such as bookkeeper and tax accountant, for example, are often used interchangeably, even though they are not the same. How so? This article … Read more