Breaking a lease is a significant decision with legal and financial consequences. A lease is a legally binding contract between a tenant and a landlord that outlines the terms and conditions of the rental agreement. Typically, leases are for a fixed period (often 12 months), and breaking such an agreement before its expiration can be…
The popularity of the digital currency known as crypto often leads to many questions when it comes to tax time. However, it’s encouraged that you speak with your accountant about your obligations as soon as possible to be prepared for what you are expected to do. The ATO classifies cryptocurrencies as property, specifically as a…
In Australia, the Pty Ltd Company (proprietary limited company) is one of the most popular business structures chosen by entrepreneurs and business owners. Pty Ltd companies offer both distinct advantages and certain disadvantages that individuals should carefully consider when determining the most suitable structure for their enterprise. Benefits of a Pty Ltd Company: Limited Liability:…
In the rapidly evolving landscape of modern business, adopting cloud computing has become essential for staying competitive and agile. Cloud computing offers a wide array of options that can cater to the unique needs of businesses, whether they are startups, SMEs, or large enterprises. Let’s delve into the various cloud computing options available for businesses.…
Hiring and retaining top talent is crucial for long-term success. However, the journey doesn’t end once you hire the right candidate. Effective employee onboarding ensures your new hires integrate seamlessly into your organisation, become productive team members, and stay engaged. Let’s explore the critical components of onboarding new employees effectively. Preparing in Advance Effective onboarding…
A Self-Managed Super Fund (SMSF) is a unique and increasingly popular retirement savings vehicle in Australia. SMSFs offer individuals and families greater control, flexibility, and investment choices than traditional superannuation funds. In this article, we’ll explore what SMSFs are, how they work, their benefits, and some considerations for those interested in establishing and managing one.…
In our increasingly digital world, protecting financial information from identity crimes is paramount. Identity theft, fraud, and cyberattacks pose significant risks to your financial well-being. To safeguard your assets and personal information, it’s crucial to be proactive and adopt robust security measures. Here are some essential steps to protect yourself from identity crimes that exploit…
Retirement planning is a crucial aspect of financial well-being, and for Australians, it holds particular significance due to the country’s aging population and changing retirement landscape. To ensure a comfortable and financially secure retirement, Australians should consider various factors and strategies when crafting their retirement plans. Superannuation Australia’s mandatory superannuation system is a cornerstone of…
In the realm of tax law, a critical concept revolves around understanding the notion of “entities connected with you.” This concept serves as a linchpin in several aspects of taxation, from determining one’s status as a Small Business Entity to ascertaining the value of assets when seeking eligibility for Small Business Capital Gains Tax (CGT)…
If you’ve been given notice of your employment ending, you want to ensure you’ve received the correct notice and entitlements by the end. The best way to do this is by speaking with your employer – and preparing to do so is key. What You Need Beforehand: Any letters, texts or emails your employer has…