Blogs & Resources
14 September 2014
What are the advantages and disadvantages of operating a business / investment using a Discretionary Trust?
Also known as a Family Trust, it is essentially a relationship that is set out by a trust deed between a trustee and a beneficiary or beneficiaries.The trustee …
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8 September 2014
What are the advantages and disadvantages of operating a business / investment as a Partnership?
This involves two or more entities who agree to share the profits or losses of a business or investment. It is recommended that a partnership agreement be…
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1 September 2014
September 2014 - Taxation Update.
Please subscribe to our newsletter for our latest taxation update, where the following topics are discussed:
1. New ATO initiatives for small businesses
2…
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31 August 2014
What are the advantages and disadvantages of operating a business / investment as a Sole Trader?
As they name suggests it is a business / investment entity that is owned and run by one individual. There is no distinction between the owner and the busi…
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28 August 2014
The importance of choosing a business / investment structure
Choosing the correct and most appropriate business structure is a very important part of the due diligence in setting up a business.
There are many examples …
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21 August 2014
What are the different structures / entities available for setting up and operating a business?
Broadly speaking the following structures are available for business / investment operations:
Proprietary Limited Company (i.e., XXX Pty Ltd)
Discretion…
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13 August 2014
What superannuation obligations will you have when commencing a business?
Your primary superannuation obligations occur if you take on employees and / or pay yourself a wage and / or director fees.
The obligations are covered in th…
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10 August 2014
What tax obligations will you have when commencing a business?
In addition to the income tax that you would already be liable for as an employee, others may include depending on certain factors:
Company tax
Go…
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7 August 2014
What should be included in a business plan?
A business plan should ultimately be tailored to your particular situation, be concise and easy to understand and follow.1. Does your business idea …
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2 July 2014
ATO Security Alert!
Scammers impersonating ATO employees to extort money, Australians' personal data sold on black market
http://mobile.abc.net.au/news/2014-07-01/scammers-i…
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1 July 2014
What is a Family Trust?
Also known as a Discretionary Trust, it is essentially a relationship that is set out by a trust deed between a trustee and a beneficiary or beneficiaries. The …
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16 June 2014
Taxation and Accounting Checklists for 2014
2014 Income Tax Returns For Individuals - Checklist
Small Business Tax Return Checklist for 30 June 2014 - http://www.mcnamaraandco.com/blog/small-busi…
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16 June 2014
2014 Income Tax Returns For Individuals Checklist
Income
1. PAYG payment summaries for salary and wages
2. Lump sum and termination payments
3. Employer Allowances (i…
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16 June 2014
Small Business Tax Return Checklist for 30 June 2014
1. Income
a. Income from sales and/or the provision of services
b. Debtors listing as at 30 June …
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5 June 2014
How can I reduce and defer my tax liability when selling my investments?
Firstly if you defer the sale of an asset until after 30 June 2014 this will create a liability in the 2015 financial year. Typically the tax liability wi…
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