Should I run multiple businesses out of one company? October 20, 2020 | Business When setting up a company, you might be thinking to yourself, can I run multiple businesses through this? The answer you’re looking for is yes, however it does come with a few things to consider.   What is Corporate Personality? Corporate…

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What you need to think about before building an investment property October 15, 2020 | Property When considering taking the plunge on an investment property, a vacant block of land probably isn’t the first option considered. We want to change this as people are unaware of the benefits of building on an empty block. Your…

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2021 federal budget highlights October 7, 2020 | Accounting, Business, Tax Last night, the Federal Government unveiled its 2020/21 Budget on what they called a paved road to recovery. A recovery highly focused on creating jobs, jobs, and more jobs. We have all heard about JobKeeper and JobSeeker decreasing and eventually fading out in March…

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Where should I be holding my assets? October 2, 2020 | Accounting Have you ever thought to yourself, should I be buying this asset under my name or the trust/company name? The answer to this question is complicated, and requires a few things to be considered prior to pulling the trigger. It is a valid…

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Corona Virus Payroll Tax Relief: UPDATE October 2, 2020 | COVID-19 The Queensland Government has announced a $4 billion stimulus package recently, which includes Payroll Tax Relief for those business liable for Payroll Tax. If you are registered for Payroll Tax in Queensland, you can receive the following: A refund of your payroll tax for…

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How to review annual leave balances in Xero. September 29, 2020 | Xero Knowing where your team is at in terms of accrued annual leave can be useful. Fortunately, if your Xero is up to date, and your payroll has been completed correctly you can check where a team member’s annual leave balance is at,…

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Family Trusts – Who should I Distribute the income to? September 29, 2020 | Accounting What is a family trust? A family trust (otherwise known as a discretionary trust) is set up to hold a family’s assets or to conduct a family business. A family trust allows certain asset protection and tax benefits that other…

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JobSeeker Payment Changes September 23, 2020 | COVID-19 Currently, if you are single with no dependents, you are receiving about $565 a fortnight base rate, and $550 coronavirus supplement. From Friday, the Government will cut back the coronavirus supplement to $250. This will continue until the end of the year, but it is unclear what…

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