Structuring property to reduce Western Australian land tax costs
The cost of land tax is a commonly overlooked tax within Perth’s tax advisors. The common focus on the “big” taxes of income tax, main residence exemption, CGT, GST and the 50% CGT discount is a primary driver for many families structuring their investments. However as a family grows their property investment portfolio the land […]
Why buying property in a unit trust is popular
With the property market booming across Perth the tax structuring and asset protection for property investment is becoming a significant focus. And while no “one size fits all” approach ever works with tax advisory, the importance and benefits of a unit trust to acquire and hold residential and commercial property is increasingly important. A unit […]
How to automate a sales quotation and win business
The practice of issuing a quote to your customers is an important part of running a small to medium sized business and should be part of your overall business plan. The quote will give your customers an indication of price, service expectations and turnaround times. Around Perth the practice of requesting a quote is now […]
5 Tips to manage cashflow over the holiday season
Over the summer holidays a lot of small to medium business will have a small to non-existent finance team as everybody starts to go on holidays – especially in Perth where the weather is so good. And this concern is even more so for family business’s when a family member is given the role of […]
How to structure your cars properly for tax
Purchasing cars for many small and medium businesses can be a significant cost. And as accountants in Perth, we have clients with a single car salary packaged in the business and clients with a fleet of over 50 cars. Regardless of the size of your business the cost of buying, running and maintaining a car […]
Fixing tax mistakes with private company loans (Div 7a)
If you run a small to medium business through a company you are likely enjoying a lower tax rate. The company tax rate is currently at 25% for a trading business (<$50m) which compares well to the individual highest tax rate of 47%. The tax rate differential is an incentive for many Perth based small […]
8 Tips to drafting a great business plan
As business accountants we have helped draft, review or comment on a range of business plans from start-up to mature businesses across Perth and through the State.
An employer’s guide to “stapled super”
The introduction of “stapled super” has been effective from 1 November 2021. And many employers around the country – from Perth to Melbourne – are not yet fully across their new obligations. What is stapled super? The government has now introduced “Stapled super” which is an attempt to stop employee’s holding multiple superannuation funds with […]
Six Handy Tips on Avoiding Superannuation Guarantee Charge Penalties (SGC)
As a business employer you have an obligation to pay superannuation on behalf of your staff. And the tax penalties and tax administration of the superannuation guarantee system is complex and littered with multiple tax penalties ranging from higher superannuation, administration fees, loss of tax deductions and interest costs. The SGL applies to employment Australia […]
How your office or factory sets your strategy
The strategy of a family business is fundamentally determined by the location and functionality of your office or factory. We go over a few things to consider. Your office is a function of HR If your business is a services based business your office location is focused on your team. Having an office that is […]