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Helping you reduce tax, protect your interests, and grow your income as professional business advisors and accountants.
Taggart Tip #12 – Having the Right Strategy and Pit Crew in Place
Have you got the pit crew & strategy in place to drive growth & profitability? Transcript Taggart: “G’day; time for another Taggart tip. Awesome — I’m here at the Norwell Motorplex and I’ve just taken a hot lap with Craig Lowndes in a finely tuned v8 supercar. At 7000rpm, 640 brake horsepower, and 298 kilometres
NEW PAYG WITHHOLDING RATES
Following an announcement in July, the Australian Government recently increased the 32.5 per cent tax threshold from $37,001 – $80,000 to $37,001 – $87,000. The new PAYG withholding rates will apply to individual taxpayers who earn more than $80,000 from 1 October 2016. The Australian Tax Office provides a range of tables to assist employers
Cloud Accounting Benefits – Get Your Head in the Cloud
When was the last time you checked the top line figures for your business? Do you know how you’re tracking against your monthly and annual targets? If you’re struggling to find time to work ON your business rather than in it, now is the time to look at moving your accounting into the cloud. Continue
Real Property Investment Through Self Managed Super Funds
Real property investment through a self-managed super fund (SMSF) is a popular investment strategy among small business owners in Australia. While SMSFs are not permitted under Australia’s superannuation rules to purchase a residential property that is owned by a member or anyone related to a member, SMSFs are allowed to lease a business property –
Taggart Tip #11 – Employee or Entrepreneur?
Are you thinking like an employee rather than an entrepreneur? Transcript Taggart: “G’day; I’m here at Noosa, it’s a fabulous day and I thought — a perfect time for another Taggart tip. I’m often asked by small business owners whether or not they should be paying themselves wages from their business. The short answer is
ARE YOU THINKING LIKE AN EMPLOYEE RATHER THAN AN ENTREPRENEUR?
I often get asked by small business owners about how they should be paying themselves and the advantages and disadvantages of paying themselves a wage or taking drawings from their business. Do you think like a businessman or more like an employee? My response to them, in a nutshell, is this: Business owners are NOT