This article focuses on the tax and legal implications when you gift or transfer property to a family or friends. Reasons to transfer property There are many reasons why family members transfer property to other family members and some of the common reasons: Are there any tax implications?Transferring property to family or friends may trigger […]
Transferring Property – Are there any tax implications? Read More »
Introduction Many business owners or investors may not understand how important choosing the right structure is when it comes to investing or commencing a business. Others may assume they can always change the structure in the future, without realising the costs and administrative hassle that may be involved when restructuring. Ideally, there would be
The importance of asset protection Read More »
Your business is finally making a decent profit—one that is consistent and reliable. You’ve worked for a long time to reach this milestone, and as the owner of the business, you’ve paid a steep price for its financial and personal success. It’s probably been ages since you took a week off, or much less, worked
Best ways to take money out of your business Read More »
If you are considering starting a business or have already started, it is important to think about and get advice on the business structure you should have. The differences between the four main business structures in Australia can really affect your business’s present and future. Therefore, it is important to seek advice on the best
What structure should I use for my business? Read More »
The ATO has released updated information on claiming crypto losses and gains in your tax return. The first point to understand is that gains and losses from crypto are only reported in your tax return when you dispose of it – you sell it, convert it to fiat currency, exchange it for another type of
Can I claim a tax deduction for crypto losses? Read More »
The OECD recently released its latest Taxing Wages 2022 report, and it’s interesting to see where Australia falls compared to other developed nations when it comes to tax. One of the purposes of this particular paper was to look at the impact of Covid-19 on how workers were taxed across 38 different nations – and
How much is our work taxed in Australia compared to other countries? Read More »
Earlier this year, .au domain names were released for Australian websites and email addresses. This gives you the option of using a shorter and simpler domain name. For existing business domain name holders, you have until 20 September to get the .au version of your domain name. However, you still have to buy it from
Have You Got Your .au Domain Name? Read More »
We have prepared some handy tips and FAQs to assist you when preparing your business activity statement (BAS). There’s no need to let your BAS stress you out, we’ve got you covered. The business activity statement or BAS is a form that is submitted to the Australian Taxation Office (ATO) by registered businesses to
BAS due dates and everything you need to know about BAS Read More »
Which is best? The way business is done today is not the same it was ten, or even just five, years ago. Business is online, highly dynamic and competitive. As a business owner, you have a lot more hats to wear, less free time and need to be able to rely on real-time, accurate information.
A traditional or online accountant? Read More »
If you’re uncertain as to whether your business might be a base rate entity, then we do encourage you to get in touch with us at Prosperity Accountants, as we can swiftly determine where you stand, to ensure that you are paying the right company tax rate.
Lower company tax rates Read More »
