Australian Tax Obligations for Residents Living and Working Overseas: What You Need to Know
As an Australian resident considering a move abroad for work or already living overseas, understanding your Australian tax obligations for residents living and working overseas is crucial. Many Australians are uncertain about their tax responsibilities when working in foreign countries, especially regarding their worldwide income and property ownership back home. This guide explores key Australian…
Read More“Property Market Trends in Australia: What First-Time Buyers and Investors Need to Know
Whether you’re a first-time homebuyer or considering an investment property, it’s very helpful to understand current property market trends in Australia and how they can affect your buying decision. Let’s break down the latest insights from the popular radio show “Brick by Brick” in simple, easy-to-understand terms. The Current Property Market: Steady as She…
Read MoreManaging Cash Flow: Using Financial Statements to Stay Ahead
Cash flow is the lifeblood of every business – no matter how profitable it looks on paper. Many small and growing businesses stumble not because they lack customers or revenue, but because they don’t manage their cash flow effectively. The good news? Your financial statements hold the clues you need to stay in control. …
Read MoreHere are key reasons why profit is more important than sales for small business owners:
1. Profit Pays the Bills — Sales Don’t Profit is what’s left after all expenses are paid. A business can have high sales but still lose money if costs are too high. Profit ensures you can meet your expenses, pay yourself and reinvest in the business. 2. Sales = Vanity, Profit = Sanity High sales…
Read MoreWhy Keeping Your Business Records Up to Date Really Matters
Running a business is busy work. There’s always something more exciting (or urgent) than sitting down with receipts, invoices, and spreadsheets. But from an accountant’s point of view, keeping your records up to date is one of the smartest things you can do for your business – and for your own peace of mind. What…
Read MoreWhy Separating Business and Personal Finances Isn’t Optional— It’s Essential!
When you’re in the world of running your own businesses, its easy to get lost when drawing the line between business and personal money matters. Whether its using your personal account to cover a business emergency or even when a dinner receipt goes on the business card, it can seem harmless at the time –…
Read MoreTrust Structures for Non-Resident Property Owners: What Non-Resident Investors Must Know
As non-resident interest in Australian property continues to grow, the decision about trust structures (ownership structures) has become more important than ever. For non-resident property owners, using a trust can offer benefits like asset protection, tax planning, and succession flexibility. But setting up a trust as a non-resident isn’t simple. New tax laws and rising…
Read MoreThe Great Tax Divide: Big Corporations pay $100 billion tax but Small Individual Tax Payers pay $330 billion
The Australian tax system has long been a contentious topic, especially when it comes to the disparity between what small taxpayers contribute and the relatively lower share paid by big corporations. While individual taxpayers collectively fork out $330 billion annually through PAYG (Pay As You Go), large corporations contribute only around $100 billion. This imbalance…
Read MoreClearance certificate a must for property sellers from 2025
Starting January 1, 2025, all property sellers in Australia, including foreign investors, must obtain an Australian Tax Office (ATO) clearance certificate. Clearance Certificate: A Must-Have for Property Sales Your Clearance certificate is to show the Australian government if you are an Australian resident or non-resident. As a non-resident, you will have to pay 15% withholding…
Read MoreAustralian Taxation on Foreigners: Changes for Property Sellers by January 1, 2025
Australian taxation on foreigners is set to change drastically for property investors selling their assets, with the deadline on January 1, 2025. This impending shift in tax laws will have far-reaching consequences for foreign property owners in Australia. Our article was featured in The Star Publications (Malaysia). Key Takeaways: Withholding Tax Increase: From January 1,…
Read More