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The latest business model – because sharing is caring

With help from the internet, the latest business model is quietly turning millions of ‘average Joes’ into entrepreneurs. Uber is connecting riders with drivers through apps. Airbnb is connecting hosts with travellers looking for a place…
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What can you tell your employees about super?

It’s a common question asked by employees: “what should I do about my super?” If you are an employer or manager and feel confident of your knowledge of superannuation and investment, it can be tempting to give an answer. However, just…
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Succession planning for family businesses

For most family businesses as well as private groups, succession planning (sometimes known as transition planning) involves considerations around the eventual sale of your business, or the passing of control of it to other family members when…
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The approach to tax when you’re working from home

If you produce assessable income at home, or some of it, and you incur expenses from using that home as your “office” or “workshop”, the ATO will generally allow that a taxpayer could be in a position to be able to claim some expenses…
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Personal services income explained

The personal services income (PSI) rules apply to income that is earned mainly from the personal efforts or skills of a person. It does not matter whether the income is earned by the individual in their own name or through an entity such…
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E-invoicing is on its way

Along with a more automated exchange and processing of invoices, e-invoicing also promises reduced payment times and better cash flow. The headline above may give the impression that electronic invoices are a futuristic concept, but of course…
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Incoming tax changes for SMEs in 2020

Small businesses are being urged to keep abreast of some key tax changes coming in 2020, with an accounting body warning they “can have a big impact on the way you run your business”. According to Susan Franks, senior tax advocate at…
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Eleven Financial Fundamentals Every Small Business CEO Must Know

Regardless of the size of the business, the ultimate responsibility for success lies with the CEO. If you're a small business owner, that's you. And the most critical CEO tasks that result in success or failure lie in the knowledge and practice…
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Six things to do now to make tax time 2020 a little less taxing

New decade, new me? We’re more than two weeks into the New Year now and the countdown clock to tax time 2020 has already started ticking. It’s going to be a big year for SMEs in the tax domain, with some changes on the cards heading…
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CGT concessions: Does your business qualify?

Wondering if you’re eligible to claim the CGT concessions can be settled by answering a few basic questions. In addition to the capital gains tax (CGT) exemptions and rollovers available more widely, there are four additional concessions…