Super contribution caps will increase from 1 July 2021
If you have any questions, do not hesitate to get in touch with one of our experienced and knowledgeable accountants to assist you with your enquiries.
The CGT implications of subdividing and building on the family property
Building residential units on available land where the family home is, or once was, is not an uncommon occurrence in Australia these days, especially with the property market the way that it is. If you are thinking of demolishing the family home and subdividing the land into blocks, then if it is possible, this is a lucrative strategy.
Lower company tax rates
If you’re uncertain as to whether your business might be a base rate entity, then we do encourage you to get in touch with us at Prosperity Accountants, as we can swiftly determine where you stand, to ensure that you are paying the right company tax rate.
Do you pay capital gains tax on a deceased estate?
The transfer of property when a person dies can be difficult, doubly so when you throw tax into the mix.
3 best practices to pump up your cash flow
For small companies, it can be a constant struggle to have available cash to keep the business running. And as a business owner, you want to ensure that you’ll be able to pay your suppliers and employees without any delays.
3 accounting tips for an easy tax compliance
A huge amount of work normally goes into managing a small company, and business owners are usually tasked with managing everything all at once. From marketing, sales and operation, accounting, payroll, tax compliance – and all in between – business owners have loads of obligations to meet.
Things to know when claiming deductions for car expenses
As a car owner, it is significant to become aware that your car expenses can be tax-deductible if you fulfil the eligibility criteria set by the ATO. And although it may sound too complicated, it doesn’t have to be a hassle if you learn the essential information.
New business survival tips for companies in 2021
The pandemic that started in 2020, stormed many businesses and forced some companies to close down. According to statistical data from Yelp, “permanent business closures have reached 97,966, representing 60% of closed businesses that won’t be reopening.” This indicates that the havoc caused by the coronavirus in the business sector is simply inconceivable.
How to manage your New Year budget in 3 simple steps
Every successful financial strategy always begins with a substantial budget. While adequate preparation is crucial to business success, handling and planning your finances ensures that you’ll have complete leverage over your financial performance and development.
Strategic ways to improve business cash flow
There are so many businesses that have been blindsided by unfavourable cash flow shifts that are foreseeable, if only they took the time to perform a forecast.