Last year has been challenging for everyone, and some professionals, more than others, need to be praised for their amazing job and strength to face this situation. Doctors are at the frontline facing COVID and other diseases, risking themselves in order to protect others (as they have always done in their career), helping and saving…
In Victoria, incorporated association must oblige the Associations Incorporation Reform Act 2012 (the Act). The Act classifies the associations into 3 tiers based on total revenue for the organisation’s financial year. The tiers are: Tier Eligibility (Total Revenue) 1 < $250,000 2 $250,000 – $1 million 3 > $1 million Total revenue refers to the…
Business tax planning strategies Who you could give an income to, to lower your tax returns: If your spouse is either a stay at home dad or mum not earning an income, you dispense some of your income to them You could save $180 on taxes if you give your child/ren $416 each. Like your…
Franchising is a business relationship in which you (the franchisee) pay the owner of a business (the franchisor) for the right to market and distribute their goods or services over a fixed period. Buying a franchise can be a smart move, particularly if you haven’t owned a business and have no experience being self-employed. Ideally,…
Property Development – New GST measures for Property Developers In the most recent Budget of 2017, the government had announced that from 1 July 2018, purchasers of newly constructed residential properties or land in new subdivisions will have to pay GST directly to the ATO as part of the settlement. The changes were announced to…