Tax Implications of Renting Out Your Home On Airbnb

The sharing economy has provided many new opportunities for everyday Australians to generate extra income. Airbnb is one of the popular online platforms that enable users to rent out their homes for short periods to other members of the community. Many individuals are keen to participate as Airbnb hosts, and they see this as aRead more…

Working in the Gig Economy

The future of work is already changing. The growing trend of the gig economy will continue as many Australians are swapping the traditional 9 to 5 job for a more flexible style of employment. The gig economy refers to a way of working that is based on people getting paid for completing individual projects orRead more…

Starting an Online Business

Many people believe that running an online business is much easier than a physical one. There are plenty of stories of people getting rich fast from an online business with zero inventory, and next to no cost – and this creates unrealistic expectations. Setting up and running a successful e-commerce site takes time and effort.Read more…

Negotiate a Better Lease on Your Commercial Property

Negotiating a fair lease is critical to the success of your business. It is much more than just agreeing on the rental amount you’ll be paying for the next few years. A lease needs to be beneficial to you as a business owner, as well as to the landlord. A well negotiated lease will provideRead more…

Minimising Your Business Operating Costs

Minimising your business overheads is one way to increase the profitability of your business and put more money back into your pocket. A better understanding of your overheads can give you an insight into your business and help you make better decisions. You will be more able to price your products and services appropriately andRead more…

12 Ways to Improve Cash Flow in Your Business

It is essential for business owners to understand what cash flow is, and how to manage it. Profit and cash flow is not the same thing. Some businesses might be profitable yet have poor cash flow because they cannot collect payments from their customers. When there are extended periods of negative cash flow, even profitableRead more…

Deduction Rules for Accrued Expenses

We’re now well into the second half of the financial year. In preparation for tax time, you might be thinking about your business expenses and what deductions you can claim. As a business owner, it’s wise to have some understanding of deduction rules to reduce your tax. You’re allowed to claim deductions for most expensesRead more…

How Will Redundancy Affect Your Tax

Redundancy can be stressful as you face the emotional and financial insecurities of losing your job. Having some understanding of the different tax implications of your redundancy payment will help to make the most of payout. When we think of redundancy, we usually think of it as losing a job. However, the ATO is specificRead more…

Caring for Your Elderly Parents

When elderly parents find it hard to look after themselves, it is common for their children to take on the role of carer. As we live longer, more Australians face the prospect of needing to care for their elderly parents while looking after their own family. These carers are typically women between 40 to 50Read more…