With the rise of the Content Creator era, platforms such as TikTok, YouTube & OnlyFans have offered an opportunity for creators to profit from the audience they generate, but the tax office has put the booming industry on notice. Our latest article outlines the ATO's expectations on how the income should be treated.
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If your business isn’t registered for Fringe Benefits Tax (FBT), it is important that you determine whether it needs to be. In this article we discuss what the ATO deems a Fringe Benefit and what benefits are exempt.
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Do you feel overwhelmed by your tax obligations? Are you unsure you’re getting the most out of the available tax concessions? If so, tax planning could be the key to taking back control of your finances. In this article, we'll explore what tax planning is, who can benefit from it, and why it's a valuable financial management tool.
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In this article, we'll delve into the importance of office culture and provide practical tips for building a strong and cohesive team that drives success in any workplace.
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In this article, we highlight some of the top software and applications available for small to medium sizes businesses. Learn how to
automate repetitive tasks, reduce the risk of manual errors, and access real-time data and analytics for informed decision-making.
Upgrade your technology and unlock the potential for growth and success for your business!
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If you’ve been looking for ways to reduce your carbon footprint and lower your car-related expenses, the new Electric Car Exemption proposed by the Australian Government may be of interest to you. Per a recent announcement by the Australian Taxation Office, the proposal suggests that from 1 July 2022, eligible electric cars would be exempt from fringe benefits tax (FBT), as long as they meet certain requirements.
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From development to growth, maturity and succession, a business Lifecyle represents the key stages of your business evolution. It’s important to identify each phase of your business lifecycle and implement the appropriate strategies to minimize risk and personal liability. With strategic planning for each phase, you can ensure the growth and viability of your business while still being able to pursue and create new opportunities.
A shareholder agreement is legally binding contract between the shareholders of a company that establishes their rights and responsibilities. It is an important document for any company as it can help to prevent disputes and ensure that the company is run in the best interest of all shareholders.
If you’ve been looking to purchase plant or equipment for your business such as a new vehicle or machinery, there are some government tax concessions that may be available to you.
There are plenty of questions surrounding Capital Gains Tax (CGT) for individuals and business owners in Australia, navigating the various tax rulings and calculations can be daunting depending on your circumstances. With many questions often leading to different answers, we’ve put together a Business Guide to Capital Gains Tax based on the most frequently asked questions by our clients.
The silly season is fast approaching, and with it, corporate Christmas parties. Find out what your tax obligations may be when throwing one for your workplace.
Discover what makes the 'trust' structure so popular amongst small businesses in Australia.
Discover what a Division 7A loan is, why they're taken, and how to make sure they're compliant.
In late 2021 the former Government instructed the Board of Taxation to review the way that cryptocurrency and other digital assets are taxed in Australia.
Entering the world of Self Managed Super Funds can be a complicated experience. Filled
with untold legal jargon, complex structures, and contrasting investment advice, those researching the topic are often left with more questions than answers.
Thankfully, the team at Sentrika are SMSF experts, and are keen to shed some light on the common queries people have. A question
we typically receive, though seemingly simple, drives to the heart of these funds: “Can I buy property directly using my SMSF?”.
The RBA lifted the cash rate to 1.85% in early August 2022. The increase comes a few weeks after Reserve Bank Governor Philip Lowe told the Australian Strategic Business Forum that “…we're going through a process now of steadily increasing interest rates, and there's more of that to come.
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The next round of Business Boost grants are on the way!
Small businesses ready to take their business to the next level are being encouraged by the Queensland government to apply for a Business
Boost grant up to $15,000.
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From 1 July 2022, two important Super Guarantee (SG) changes will apply to your business.
Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they
represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations.
These letters are a warning shot and should not be ignored.
There are lots of reasons to keep fit but very few of them have to do with how we earn our income. As a result, a tax deduction for a gym membership isn’t available to most people. And yes, the Tax Office has heard all the arguments before about how keeping fit reduces sickness and therefore is important to earning an income, and ‘…the way I look is important to my job’.
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