Investing in shares can be a great way to grow wealth. It is also important to have an accountant Melbourne by your side who can help you plan and strategize to save Capital Gains Tax (CGT). In Australia, CGT is payable when you sell shares for a profit. However, there are legal strategies to minimize […]
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When receiving money through a gift or inheritance, many people wonder whether they are required to pay tax on it. The answer is it depends. Let’s explore how gifted money and inheritance are treated for tax purposes in Australia. Gifted Money In Australia, gifts are generally not considered taxable. If someone gives you money as
Do You Have to Pay Tax on Gifted Money or Inheritance? Read More »
When businesses or individuals require assets such as cars, machinery, or computer equipment but cannot or prefer not to purchase them outright, a hire purchase agreement can be an ideal solution. Here’s an overview of how hire purchase agreements work, their benefits, and key considerations. Understanding a Hire Purchase Agreement A hire purchase (HP) agreement
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Day trading has become increasingly popular among Australians, with many taking advantage of volatile financial markets to generate income. However, when it comes to taxation, day trading isn’t as straightforward as buying a share or two for the long term. Understanding how your trading activity is classified and taxed by the Australian Taxation Office (ATO)
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The Federal Court has denied a sports company’s appeal to claim research & development incentives for the creation of an Australian signature basketball shoe. The Movie Air highlighted the importance of the signature Air Jordan shoe to Nike. While expected to sell around $3 million worth of shoes by its fourth year, the signature shoe
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When it comes to running a business or earning income, understanding the distinction between Personal Services Income (PSI) and Business Income is crucial. This differentiation impacts how your income is taxed and reported. Let’s look into what PSI and business income mean, their key differences, and how they apply to your circumstances. What is Personal
What is Personal Services Income vs Business Income? Read More »
The last few years have been a rollercoaster ride of instability. 2025 holds hope, but not a guarantee, of greater stability and certainty. We explore some of the key changes and challenges. An election Welcome to political advertising slipping into your social media, voicemail, and television viewing – most likely with messages from the opposition
What’s ahead in 2025? Read More »
Dreaming of a holiday but worried about the cost? Whether you’re planning a local getaway or an international adventure, creating a budget is the key to enjoying your trip without financial stress. As a business accountant , I’ve seen how proper financial planning can ensure you have a stress free holiday. Here are practical tips
Accountant Melbourne Tips: How to Budget for a Holiday Read More »
The holiday season is a time for joy, celebration, and relaxation—but for many individuals and businesses, it can also bring financial stress. From navigating end-of-year tax obligations to budgeting for holiday expenses, financial matters can become overwhelming. This is where a skilled accountant Melbourne can step in to make your holiday season stress-free. 1. Managing
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Running a business comes with many challenges, and managing finances is often at the top of the list. Accounting services, often seen as an added expense, can actually be one of the most cost-effective investments a business can make, especially if you choose the right accountant. By leveraging a professional accountant Melbourne, businesses can save
How Can Accounting Services Save Your Business Money? Read More »
