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 […]

What Is An Accountant?

What is an accountant?

“What is an accountant?”    We often hear this, especially in the context of whether they’re any different from bookkeepers.    Well, the truth is, accountants are responsible for a lot. So, in this article, we’re looking at everything you can expect yours to undertake, and how they quickly become the backbone of successful businesses […]

Navigating Division 7A Loans in Australia

Division 7A Tax

As a business owner, strategic financial decisions form the bedrock of your day-to-day operations. Among these considerations, you may evaluate whether to provide a loan to a shareholder or forgive an existing one.  If this notion has ever crossed your mind, knowing that such transactions, while seemingly straightforward, can have significant tax implications is imperative.  […]

The Small Business Income Tax Offset Demystified in Detail

Small businesses are vital to the Australian economy, providing employment opportunities and contributing significantly to the nation’s economic growth.  Despite the exciting prospects of owning and operating a small business, the journey takes work. Small business owners must navigate complex challenges, including fierce competition, limited resources, and regulatory compliance.  Thankfully, the Australian Taxation Office (ATO) […]

Buying a Vehicle for Your Small Business – Everything You Need to Consider

couple buying new car for dealership

Many business owners know that buying a motor vehicle can result in a tax deduction but aren’t aware that the process isn’t so straightforward. Before buying a business vehicle, you should consider whether you’ll be primarily using the car for business or if you’ll be using it more for personal use. If you previously successfully […]