Have you been employed by someone outside of Australia? If you have, you’ll likely need to lodge a tax return to declare any foreign earnings from foreign service. Foreign service is the service Australian residents provide in a foreign country as an employee or an office holder. Your foreign earnings include income you earn, such…
Creating a business is not an easy avenue to explore. It requires commitment, frequent planning, substantial financing and good business sense. However, not only do you have to think about the beginning of your new venture, but you also have to think about the company’s continued growth. To be a successful business, growth is the…
While receiving money from a family member who has passed away can sometimes be quite handy for those facing cash-flow issues, managing an inheritance is more often an emotional, financial challenge. Not only do individuals have to cope with the grief of losing someone, but they also face making crucial decisions regarding the deceased’s finances,…
In today’s competitive landscape, business owners need to be able to identify and promote their business’s point of difference. A differentiated brand helps businesses to stand out to customers and can prevent them from getting lost in traffic. Businesses can differentiate themselves from competitors with similar offerings by creating a unique selling proposition. A unique…
No matter the kind of super fund you opt for, or how it has been performing, you will be subject to super fees. Understanding how these fees work and the difference they can make to your nest egg is vital. When it comes to super fund fees, there are two factors you need to get…
Scams are everywhere, so it’s likely most people have either encountered a scam themselves or know someone who has. A common scam that has been doing the rounds, for instance, is the ‘Hi Mum’ text, via which the scammer contacts the mark and requests money to get home or fix a phone, etc. In 2022,…
Accessing your superannuation early is a short-term strategy Australians facing financial troubles can use to buy temporary financial protection. However, there are limited circumstances when individuals can access their super savings early, and in most cases, individuals cannot withdraw their superannuation until they reach their preservation age and retire. To access super early, Australians must…
Get a gym membership, start a diet, drink less, and travel more. Every year we make plenty of new year’s resolutions that we try valiantly to uphold. Why not make one about keeping on top of your tax obligations in 2023? Are You In Business? Know if you’re in business or not! Are you earning…
Social media is now considered an everyday communication channel, with an increasing amount of businesses incorporating social media as part of their marketing strategy and plan. Social media takes on a new form when used for personal reasons in the workplace or as a business representative, both entailing implications. Most large businesses have a formal…
Your tax file number (TFN) is an essential piece of information in your possession and should be a constant companion throughout your life. However, there are times when a TFN is misplaced or forgotten. What are you supposed to do? If you forget your TFN or lose it, this can be a major issue. A…