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Chewing the Fat: When are Meals Tax Deductible to a Business
Taking team members, clients and suppliers out for a meal can be an opportunity to start, or further develop, a great working relationship.
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New Years Resolution: 5 Urgent Reasons to Change Accountants in 2015
Most business owners are not happy with their current accountant. So why don't they change accountants?
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Can I claim the kitchen sink? Do’s and Don’ts for Home Office Deductions
With the rise in cloud technology making the need to have a fixed ‘place of business’ outside the home far less important than it once was, many small business owners are choosing to operate from home. Meeting your clients at a decent café is a far...
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How Do I Pay Myself From My Company or Trust?
We have been asked three times in the past week, "How do I pay myself?".
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Business Structuring Made Easy! Part 6: The Dangers - What if I Get it Wrong?
In order to reinforce the importance of selecting the right business structure, our final article in this series looks at the consequences of getting the choice wrong and the potential costs associated with the transition to a new structure.
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7 Things Business Owners MUST Implement BEFORE June 30
We often find in business that many entrepreneurs and business owners are moments away from realising the potential that a few small changes in their modus operandi (or "method of operation") can have on their business. This is without mentioning...
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Business Structuring Made Easy! Part 5: Family Trusts
A trust is a structure wherein a Trustee (either an individual or company) carries on the operations of the Trust on behalf of the beneficiaries. The actions of the Trustee are governed by the Trust Deed, which details the rights and obligations of...
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Business Structures Made Easy! Part 4: Companies
Unlike a sole trader who essentially is the business, a company is a separate legal entity with directors who run the business and shareholders who own it. When business owners are interested in restructuring their business operations, the most...
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Business Structures Made Easy! Part 3: Partnerships
Business Structures Made Easy! Part 3: Partnerships
A partnership is a common and relatively inexpensive way to set up a business. It involves 2 or more co-owners (the partners) participating together in a business operation. In order for a partnership to exist the partners must have the intention of...
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CGT Main Residence Exemption – Tips, Tricks, and Traps
Under ordinary circumstances the sale of a property would attract Capital Gains Tax (CGT). However, you can avoid paying CGT if you sell a dwelling that is considered to be your main place of residence. But what is your ‘Main Residence,’ and how do...
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