A Base Rate Entity (BRE) is a classification under Australian tax law that determines the corporate tax rate a company is subject to, whether 25% or 30%. Introduced to provide tax relief to small and medium-sized businesses, the concept of a BRE is crucial for understanding how Australian companies are taxed. This classification primarily hinges […]
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In today’s fast-paced business environment, it is imperative to manage finances efficiently for success. Two of the leading cloud-based accounting software solutions in Australia are Xero and MYOB. Each offers unique features tailored to specific business needs, making the choice between them an important decision. This guide breaks down their key features, pros, and cons
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When it comes to reaching your financial goals, whether as an individual or a business owner, choosing the right accountant is a decision that can significantly impact your financial health and success. Melbourne is home to numerous accounting firms and professionals, making the selection process time consuming but worthwhile. This guide will help you navigate
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Law firms, like many professional service providers, face unique accounting challenges that require specialized expertise. From managing client trust accounts to understanding complex tax regulations, law firms often struggle to stay compliant while focusing on their core legal work. As a Melbourne accountant with extensive experience in legal industry accounting, I’ve identified the common financial
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In the fast-paced world of business, maintaining accurate and organized financial records is a non-negotiable task. A well-kept set of books not only ensures compliance with regulations but also provides crucial insights for making informed business decisions. For business accountants, mastering the art of bookkeeping is a key skill. In this blog, we’ll explore some
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