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Using Super For Medical Costs: Is It Worth It?

Over the past five years, more than 150,000 Australians have dipped into their retirement savings early to cover medical expenses, raising concerns about the financial impact this may have later on. While the Australian Tax Office’s (ATO) compas..

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Claiming Immediate Deductions for Depreciating Assets: A Guide for Employees

When it comes to work-related expenses, the Australian Taxation Office (ATO) allows employees to claim immediate deductions for depreciating assets that cost $300 or less. While this rule is straightforward, four tests must be passe..

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What Is Business Liability & How Can You Protect It?

Running a business in Australia comes with many responsibilities, and one of the most important aspects is understanding your liability. Business liability refers to the legal responsibilities that a business owner or company faces for their actions,..

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Superannuation, The Self-Employed & Contractors

If you're a contractor, freelancer, or self-employed, you’re probably already juggling multiple responsibilities, from managing clients to keeping track of your income. One area that often gets overlooked is superannuation, but it’s crucial to..

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Understanding Closely-Held Employees & Small Business STP Reporting

Small businesses, especially family-run ones, require careful attention to payroll for closely held employees, such as family members, directors, and shareholders. The Australian Tax Office (ATO) mandates that all employers adhere to Single Touch ..

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The Key Responsibilities Of Running A Business

Running a small business is an exciting and rewarding endeavour, but it also comes with a fair share of responsibilities. Among the most important are the financial obligations that keep your business compliant and financially healthy. That’s wh..

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5 Secrets Of Superannuation You Could Use To Your Advantage

Superannuation is one of the most important tools you have for securing a comfortable retirement. While most people are familiar with the basics—like making contributions and choosing investment options—some hidden gems within the superannuati..

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What You Need To Know About The Tax-Free Threshold

Many people mistakenly claim the tax-free threshold from multiple employers, which can lead to an unexpected tax bill. This guide will help you understand how to manage the tax-free threshold while juggling multiple sources of income, so you can kee..

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The Power of Product Diversification in Business: When It Works and When It Doesn’t

As a business owner, you’re always on the lookout for ways to grow and adapt in an ever-changing market. One strategy that many businesses consider is product diversification. Simply put, this means expanding your product line or offering new pr..

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Spousal Contributions: A Guide To Voluntarily Boosting Super

Superannuation is a vital aspect of retirement planning in Australia, ensuring individuals have sufficient savings for their later years. One effective strategy to enhance your family's overall superannuation balance is through spouse contributions. ..