Contractor vs Employee: Which is Better?

contractor vs employee

Understanding the differences between an employee and a contractor can initially seem daunting, especially with all of Australia’s complex legislation governing employment relationships.  But don’t worry. We’re here to guide you through the specifics and break down precisely what sets them apart.  The Definition of Contractor vs Employee in Australia The Australian law outlines specific […]

The 4 Different Types of Businesses in Australia

types of businesses in australia

The 4 Different Types of Businesses in Australia Understanding Australia’s four types of businesses is imperative for anyone looking to tap into its diverse and dynamic business landscape.  The country offers a wide range of opportunities for entrepreneurs and investors alike. But before embarking on any business venture in this promising land, it’s crucial to […]

What Should You Include in an Employment Contract (Australia)?

Employment contracts

In every successful business, there is a fundamental piece of the puzzle: the employees.  These individuals, with their unique skills and contributions, form the beating heart of your operation. They drive your business forward, infusing their talent and passion into your products and services. One of the pivotal tools that serve to guide this dynamic […]

Benefits of Tax Planning for Small Businesses

Tax Planning

Understanding tax regulations can be challenging, especially when you’re a small business owner juggling many responsibilities. From overseeing daily operations to ensuring customer satisfaction, you have much on your plate.  On top of that, the reality of taxes inevitably comes into play. You might often hear people emphasise the importance of tax planning and advise […]

Single Touch Payroll (STP): Revolutionising Payroll Management

In the not-so-distant past, Australian business owners like you faced the laborious task of manually reporting payroll information to the Australian Taxation Office (ATO). The annual reporting burden was time-consuming and often took up valuable resources, hindering efficiency and productivity. Recognising these challenges, the ATO introduced Single Touch Payroll (STP), a system devised to simplify […]

The Company Registration Process in Australia 

Venturing into the realm of entrepreneurship is nothing short of thrilling, but it can be nerve-wracking, too. As you transform your vision into a tangible reality, you’re bound to face challenges while kick-starting your company. But fear not! Simply tackle the process step by step. In this blog post, we’ll navigate the Australian company registration […]

4 Steps Required for ASIC Business Name Registration

Registering a business name with the Australian Securities and Investments Commission (ASIC) is a necessary step for every entrepreneur looking to conduct business in Australia.  A well-chosen business name can help you establish a strong brand identity, while proper registration ensures your company complies with relevant laws and regulations.  This comprehensive guide will walk you […]

Answering Your 7 Questions About a PAYG Instalment

Answering Your 7 Questions About a PAYG Instalment

PAYG Instalments (Pay As You Go Instalments) is a system requiring certain Australian taxpayers to make regular payments towards their expected income tax liability for the current financial year. This system helps individuals and businesses manage their cash flow by spreading their tax payments throughout the year rather than paying a lump sum at the […]

A Guide to the Small Business Restructure Rollover

Starting a small business involves a multitude of decisions, but none is as crucial as selecting the right structure for your business. Your chosen structure can impact your tax obligations, reporting requirements, legal liabilities, and how you operate your business.  For example, sole traders and companies have entirely different tax requirements and reporting obligations. However, […]

Outsourcing vs Offshoring: The Pros and Cons

outsourcing

Businesses often look to save money by outsourcing vs offshoring certain operations. You’ll often find the two terms used synonymously when, in fact, they’re actually quite different. So it is essential to understand the difference between the two strategies before deciding whether they’ll work for your business model.  Business process outsourcing refers to contracting with […]