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.
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.
The transfer of property when a person dies can be difficult, doubly so when you throw tax into the mix.
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.
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.
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.
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.
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.
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.
Growing a business isn’t as easy as it may sound.