When a small business starts, they usually earn too little to pay tax. Then as the business grows, more taxes are added, at increasing rates. The faster the growth of the business, the faster the tax bills grow, and it can be a demoralising shock. This post outlines a few tax thresholds to mentally prepare yourself for, […]
In a previous post, Overview of Legal Entities, I mentioned that the Pty Ltd company is increasingly common in certain industries, sometimes as an attempt to convert employees to contractors and avoid employee costs. However, many government departments are aware of this, and so each has their own test to determine who is actually an […]
In my last post, Overview of Legal Entities, I mentioned Pty Ltd companies. This post covers further details that you need to know about Pty Ltd companies.
The concept of ‘Business Names’ has come up with two new clients recently. This post outlines what a business name is, how to register one, the costs, checking who holds a business name, and how to transfer the name. All without mentioning that Shakespeare quote, I promise.
One of the difficulties with Australia’s system of Awards is determining the correct Award to use. In some cases, it is quite simple, for example the Award covering hairdressers starts with “Hair”. This post describes the process to follow to determine the correct Award, using the example of a furniture removalist.
There is a large learning curve for first-time employers, and it can be difficult to find the information in one place. This post is an introduction to the compliance issues and contains lots of links to further information.
Some people save money for their next tax payment by putting it in a separate bank account. This is a great method to avoid spending that money before it is due. I don’t have a separate bank account, but I still like to keep track of how much to leave in my bank account for […]
There are three types of accounting and each has different characteristics. Some accounting software packages can handle all three types of accounting through the use of multiple or hyper-focused categories for each transaction. Accountants will often specialise in one of the three types of accounting.