By Westcourt Blogger. To understand franking credits we need to take a step back. Australian tax law has an underlying principal.  Regardless of how you take cash from a company: the ultimate tax payable by you is the same. So a company can pay you rent on a factory you own.  Or it could pay […]

 We often find that for a family in business, the cross over between business loans and investment loans is blurred.  If your family has several real estate assets, and business assets, all offered as security for one loan you are “cross collateralised”.  Sadly having loans “crossed” rarely helps a family.  In fact it mainly helps […]

By Westcourt Blogger Giving to charity this Christmas is a great way to give to those less fortunate while receiving some extra tax perks. Charitable donations are tax deductible which only adds to the incentive to be generous this holiday season. Here are some tips for maximising your tax breaks on charitable donations: The charity […]

By Westcourt Blogger Freeing up working capital can help businesses fund growth, reduce debt levels and lower costs. One way to improve working capital is by managing your accounts receivable. Many businesses fall into the trap of poor accounts receivable management – from extending credit to customers to ignoring payment terms to guarantee a new […]

By Westcourt Blogger Despite the Australian Tax Office’s education campaign on GST reporting, many small business owners continue to make errors when claiming GST credits in their GST returns or Business Activity Statements. The vast majority of errors are easily unavoidable and relate to the over-claiming of GST credits. Here are the top ten common […]

By Westcourt Blogger Contributing extra to your superannuation is a good way to boost your retirement funds. One of the ways you can add more to your super is through salary sacrificing. Salary sacrifice is an arrangement with your employer to forego part of your salary or wages in return for your employer providing benefits […]