Tax
Christmas Parties & Gifts: A Business Owner’s Guide to Festive Tax Perks
As Mariah Carey’s “All I Want for Christmas Is You” is starting to blast through supermarkets and shopping centers, businesses are gearing up for staff parties and expressing gratitude through gift-giving. In saying this, it’s important to consider the tax implications of these celebrations, particularly when it comes to Fringe Benefits Tax (FBT) and tax…
Investment Bond: A Tax Effective Way to Fund Your Child’s Education
Securing your child’s financial future is a top priority for many parents. With education and living costs on the rise, starting a savings plan early can make a significant difference. There are three main avenues to consider when saving for your child: Bank Accounts, Investments, and Investment Bonds. Each option has its own benefits and…
Key Action Items for the Upcoming Financial Year: A Guide for Employers
As we approach the end of the financial year, it is crucial for employers to stay updated on the latest changes affecting employee awards, pay rates, and superannuation. Here’s a comprehensive guide to help you navigate these updates and ensure compliance. Fair Work Updates Award Wages Fair Work has announced a 3.75% increase in…
How to Use the Business Boost Grants Program for Your Business
The next round of the Business Boost Grants Program is opening shortly, and is for small businesses wanting to enhance their efficiency and productivity. Funded businesses are expected to: Increase turnover, profit, and employment Boost business confidence and skills Enhance efficiency and productivity Strengthen resilience and survivability Available Funding Eligible businesses who are successful…
Unlocking Benefits for Small Businesses: The $20,000 Instant Asset Write-Off
Small businesses are the backbone of our economy, driving innovation and fueling growth. At LINK Advisors, we understand the challenges and opportunities that come with running a small business. That’s why our team of experienced small business accountants in Brisbane is committed to empowering small businesses to thrive in today’s competitive landscape. One invaluable tool…
Key Initiatives of the 2024-25 Federal Budget Impacting Small Businesses
The economic landscape is creating challenges for most businesses. High interest rates are placing cashflow strains on businesses servicing debt, while supply chain disruptions are leading to lost sales or higher expenses. Labour and skills shortages are resulting in employers paying more to hold onto employees or incurring more costs to upskill them, which is…
Turning Equity Into Opportunity: A Guide to Debt Recycling
Debt recycling is a strategy that can help property owners maximise their wealth accumulation while efficiently managing their debts. By leveraging the equity in their property to invest in income-generating assets, individuals can effectively reduce their non-tax deductible debt while simultaneously building their investment portfolio. This impact is greater if the equity they are leveraging…
What Does ‘Balancing Account’ Mean in myGov Account?
Ever logged into your myGov account and stumbled upon the term ‘balancing account’? If you’re feeling a bit lost, don’t worry. Simply put, when the ATO tells you that they are balancing your account it means they have the information you provided for your tax return and they are now working out whether you are…
How To Increase Prices In Your Business
One of the most delicate decisions a business must navigate is increasing its pricing it charges customers and clients. Pricing directly impacts revenue, profit margins, customer perception, and market competitiveness. In this article, we delve into the main areas to consider when deciding when and how to go about increasing your business goods and services…
The Purpose Behind Tax Optimisation
Tax optimisation is a strategic approach aimed at legally minimising your tax payable each year. It involves an assessment of your business and is in place to take advantage of tax deductions, credits, and incentives available. This practice ensures that you’re being tax effective and allows you to significantly boost your cash flow & viability…