With the end of the financial year approaching, now is the perfect time to pull up a chair and talk about what really matters for your business’s tax position. At Judge Accountants, we understand that tax planning isn’t just about compliance—it’s about creating opportunities that make a real difference to you and your business.Whether you’re … Continued
Why Tax Planning Shouldn’t Be a Last-Minute ScrambleWhen it comes to tax planning for your small to medium business, the difference between scrambling at year-end and implementing a proactive strategy throughout the year can significantly impact your bottom line.As Western Sydney business owners ourselves, we understand the unique challenges you face. Tax planning isn’t just … Continued
Transferring a business property into a Self-Managed Super Fund (SMSF) can be a strategic move, but it requires careful consideration of both the benefits and potential drawbacks. Here were explore the advantages and disadvantages that can help you decide if this is the path you want to take.Advantages of Transferring Business Property into an SMSFTax … Continued
Finally! Some Relief: What the Latest Interest Rate Cut Means for YouThe Reserve Bank of Australia (RBA) has just announced a 0.25% reduction in the official cash rate, bringing it down to 4.10%. This move comes as inflation eases into the RBA’s target range of 2-3%, offering potential relief for borrowers and a boost to … Continued
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
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
The holiday season is a time for joy, celebration, and giving, and many companies express their gratitude to employees through festive parties and thoughtful gifts. However, amidst the festive cheer, it’s crucial for businesses to be aware of the tax implications associated with these gestures. Understanding the tax rules can help businesses spread the holiday … Continued
If you are running a business and employ an accountant to handle your finances then the ATO has created a new requirement that will keep your private information, private. The new method will help to ensure that only your authorized tax agent, BAS agent or payroll service provide can access your accounts. And with cyber … Continued
SMALL BUSINESS ENERGY INCENTIVE If you want to become more energy conscious within your business operations the good news is that now you can get a bonus tax deduction from doing so. The Australian Government announced it will provide businesses that have an annual turnover of less than $50 million with an additional 20% deduction … Continued
Are you choosing the right one for your business? If your business is expanding and you’re about to take on either workers or staff, its important to understand the difference between hiring an employee or a contractor. Most businesses aren’t aware that there are distinctions between these two classifications and failing to adhere to specific … Continued
You have probably heard the recent Labour announcement earlier this week of significant changes to super that may impact you. On 28th February 2023, the government announced that from 1st July 2025 a 30% concessional tax rate will be applied to future earnings for superannuation balances above $3 million. As of yet, this cap has … Continued
Choosing to use a Pay As You Go (PAYG) withholding variation could allow a property investor to routinely increase their cash flow by changing the amount of tax withheld by their employer. Here, BMT Tax Depreciation outlines how a PAYG withholding variation works, the benefits and how claiming depreciation can further improve cash flow. What … Continued
During the ongoing COVID-19 pandemic, many industries are seeing income either disappear completely or drop to dangerous levels. To be able to navigate the future path of your cashflow, it’s vital you map out your financial position over the coming months so that you can take the appropriate action to safeguard your cash position. Forecasting … Continued
Cash flow management can be an ongoing and difficult process to manage. If you’ve arrived at the end of the year feeling defeated because you’ve seen large profits throughout the year, but you have barely any cash in hand, cash flow is likely to blame. Here are our top 7 tips to help you manage … Continued
For many, the word ‘budget’ is about as appealing as the word ‘diet’. It seems to imply what you will go without, rather than what you will achieve. To a successful business owner, however, the word ‘budget’ has a very different meaning. A budget is more like a roadmap that clearly outlines where you intend to take … Continued
Rent is one of the largest fixed costs for many small businesses and with current lockdown restrictions cash flow may have ceased or significantly reduced. Fortunately, the NSW Government has announced greater protection and financial support for commercial tenants and landlords impacted by COVID-19. The NSW Government will re-introduce the National Cabinet’s Mandatory Code of … Continued
The NSW Government today announced a major new grants package and changes to the Dine & Discover program to help tens of thousands of small businesses and people across NSW impacted by the current COVID-19 restrictions. The package includes grants of between $5,000 and $10,000 for small businesses, payroll tax deferrals for all employers, an … Continued
Markets Surprised by Dovish Tone Despite Rate HikeSome 15 months since it first raised interest rates in more than seven years, the US Federal Reserve (Fed) lifted rates for the third time at its March meeting by 25 basis points, raising rates to the 0.75%-1.0% range. Overall the tone of the post-meeting statement and press … Continued