If you’re buying property in Victoria, Australia, understanding stamp duty is essential. Stamp duty is a tax levied by the state government on property transactions (as well on the sale of motor vehicles). This guide will help you understand the basics of stamp duty on property transactions, how it’s calculated, and whether you’re eligible for […]
How Much Is Stamp Duty in Victoria? Read More »
Superannuation, often referred to as “super,” is Australia’s retirement savings system. Established by the Australian federal government, it helps Australians build savings throughout their working life, so they can support themselves and their loved ones financially once they retire. Here’s a breakdown of what you need to know. What Is Superannuation? Superannuation is a long-term
How Superannuation Works in Australia: A Guide to Retirement Savings Read More »
Tax time can be a stressful time for many individuals and business owners. With multiple lodgements and deadlines to navigate, it’s easy to understand why some may procrastinate or, worse still, forget to lodge altogether. However, missing the tax return deadline can lead to a range of consequences, from penalties to more severe actions by
Is Your Tax Return Not Filed on Time? What Could Happen? Read More »
Starting a business in Australia means understanding Goods and Services Tax (GST) – a 10% consumption tax on most goods and services. Knowing when and how to register for GST is important to ensure you stay compliant with Australian Taxation Office (ATO) rules. Here’s what you need to know about GST registration: What is GST?
What Do You Need to Register for GST? Read More »
Capital allowances are tax deductions businesses can claim when purchasing certain assets. Capital allowances are designed to encourage investment in productive assets by allowing companies to claim tax deductions. Knowing how capital allowances work is essential for business owners who want to make informed financial decisions and minimise their tax liability. What Are Capital Allowances?
What You Need to Know About Capital Allowances Read More »
Capital Gains Tax (CGT) is a complex area of law, and you must seek professional advice from a business accountant. Note that in some situations, you can defer paying CGT through a CGT rollover. This blog will explain what CGT rollovers are, the types available, and how they can benefit you. What is Capital Gains
CGT Rollover: All the Things You Need to Understand Read More »
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
Accounting Challenges Faced by Law Firms Read More »
Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of issues that need to be resolved. What happens when there is a family company? For couples that have assets tied up in a company, the tax consequences of any settlements paid from the company will need
Divorce, you, and your business Read More »
Navigating the world of business finance can be daunting, but with the right company accountant, Melbourne businesses can thrive. This guide will help you understand the essential role of an accountant and how to find the best fit for your company in the vibrant city of Melbourne. Why Your Business Needs an Accountant Having a
A Guide to Melbourne’s Company Accountant Read More »
When you run a business and/or have an investment portfolio, it’s important to know whether you need a business accountant, a financial advisor, or both. While their roles overlap in some areas, each professional offers unique services. Here’s a breakdown to help you decide which one you need. What is a Business Accountant? A business
Business Accountant vs. Financial Advisor Read More »
