Buying an investment property through a self-managed superannuation fund (SMSF) offers potential tax benefits, including a concessional tax rate of 15%. At the same time, navigating the tax complexities attached to an SMSF can lead to errors on your income tax return.Many rental property owners are getting their returns wrong, which has attracted attention from … Continued
Is your accounting stuck in the past? Discover how tech-powered accountants can save you time and money and unlock hidden growth potential. Picture this: Your desk is buried under a mountain of receipts, invoices, and bank statements. You’re spending countless hours manually entering data, reconciling accounts and trying to make sense of it all.Meanwhile, your competitors … Continued
Quick Exercise: Take a moment to jot down your answers to these questions:Who has access to your business bank accounts?When was the last time you reviewed your employee expense reports?Do you have a clear process for handling customer refunds?Have you thoroughly examined your workflow for exploitable weaknesses?How confident are you that your financial data is … Continued
Small businesses are prime targets for fraud. Learn to spot the tricks and keep your hard-earned money safe with an accountant’s practical advice.Since 2023, there has been a worrying surge in scam reports in Australia, with over 601,000 cases recorded, marking an 18.5% increase compared to 2022. This alarming rise highlights the growing threat of … Continued
Commercial properties, such as offices, retail outlets and warehouses, typically provide higher rental yields and longer lease terms. This can result in more stable income and less frequent tenant turnover.But, commercial investments often require higher capital outlays for the initial purchase and ongoing maintenance, due to their larger size and complex systems like air conditioning … Continued
Tax planning is essential to ensuring that your business minimises its tax liabilities and maximises the benefits that can be accrued. It also helps your business remain compliant with relevant regulations and tax laws, while also reducing the stress involved with managing your tax obligations during tax season.This is why, every year, Judge Accountants provides … Continued
As the inevitable tax season approaches, individuals and businesses alike find themselves facing the annual task of filing their taxes. While this process may seem daunting, strategic tax planning can alleviate much of the stress and potentially lead to significant savings. Whether you’re a salaried employee, a small business owner, or a freelancer, understanding and … Continued
A definite uptick in wild weather has not been just an inconvenience for people trying to get about their daily lives but at the other end of the spectrum, wild weather can have devastating impacts on small business if they are underprepared. Floods, cyclones and fires have the power to destroy communities and small businesses, … Continued
Building a successful property investment portfolio requires careful planning and expertise. While property investing in Australia is popular, it’s not without its challenges. To navigate the complexities and maximise your returns, assembling a knowledgeable team is crucial. Here are the key experts you should include. 1. Accountant and/or Financial Adviser: These professionals help you manage … Continued
The old saying of ‘Cash is King’ is true, you always want to ensure you have enough of it (and you need quite a bit when starting a new business). It’s one of the critical decisions entrepreneurs face – whether to use available cash reserves or resort to borrowing. Both options have their advantages and … Continued
It’s not about making money, it’s about making money work for you. Investing can be the first important step to achieving your best possible financial future. It can mean additional income and opportunities to grow wealth. If you’ve come into extra funds or have been fortunate to receive an inheritance, there is desire to spend a … Continued