Company vs Trust: Which Business Structure Wins? Choosing the right business structure can make or break your venture's success. Two structures consistently dominate discussions among Australian entrepreneurs and their advisors: companies and trusts. Both offer sophisticated benefits, yet each comes with distinct complexities that can significantly impact your tax obligations, asset protection, and operational flexibility. […]
Starting a new business is an exciting venture, but it comes with a long list of critical decisions. One of the most fundamental choices you'll make is selecting the right business structure. This decision will impact your tax obligations, personal liability, compliance requirements, and your ability to grow. We understand that navigating the complexities of […]
Director Fees: What you need to know about compliance and tax Director Fee Facts Director fees are paid to members of a company’s board of directors or owners of private companies. Can be paid in cash, shares or other forms of remuneration. Directors are not employees so no salary. Amount of director fee determined […]
Quick facts You can claim parking on your tax return if you are using it for work purposes. Eligible parking expenses are for business trips, visiting clients or suppliers and commuting to different work locations. The amount you can claim varies depending on the vehicle and duration of the trip. Keep records and receipts for […]
Accountant vs Financial Advisor: What’s the Difference and How to Choose Key Takeaways Roles Defined: Accountants primarily manage financial statements, taxes, and compliance, while financial advisors focus on wealth management, investment strategies, and guiding clients toward their financial goals. Services Offered: Accountants provide detailed financial record-keeping and reporting, ensuring that all legal obligations are […]
The Role of an ASIC Registered Agent Compliance Key Highlights A registered agent is important for helping Australian companies follow ASIC rules. ASIC compliance is needed to meet legal needs and stay in good standing with Australian authorities. Registered agents assist in communication between businesses and ASIC. They help to lodge documents and follow […]
Business Strategy Essentials for Growth Key Highlights To grow steadily, it's important to understand the main parts of a successful business strategy. A clear business strategy for the Australian market can help you have a competitive advantage. Having a vision, mission, and realistic goals is essential for making and following a good business strategy. […]
Types of Revenue Accounts Explained Key Highlights Revenue accounts are very important. They help track the money that a business makes. This includes main activities like product sales and other sources such as interest income. Keeping accurate revenue accounts is critical. This is needed for both legal and tax reasons. It also gives valuable […]
Margin vs. Markup Explained: Which One Matters More? Key Highlights Understanding the difference between margin and markup is key to setting prices that make profit. Margin shows the profit made from a sale as a percentage of revenue. Markup shows the percentage added to the cost of goods to find the selling price. Both […]
