by Financially Sorted | Nov 25, 2024 | Business, Economy, Small Business, Tax & Accounting
The holiday season can be a boom for small businesses, but it also brings cashflow challenges. With increased demand, you’ll need to manage expenses for inventory, staffing and more. Here are some key tips to help you maintain a healthy cashflow during this busy time....
by Financially Sorted | Nov 25, 2024 | Tax & Accounting
Beyond the difficult task of dividing up your assets and determining who should get what, it’s essential to look at the tax consequences of how your assets will flow through to your beneficiaries when you are gone. When assets pass from a deceased individual to a...
by Financially Sorted | Oct 28, 2024 | Small Business, Tax & Accounting
As the holiday season fast approaches, many small business owners are organising their Christmas parties to celebrate with their teams. While the festive spirit is in the air, have you considered the tax implications of your celebrations? Be aware, hosting a Christmas...
by Financially Sorted | Oct 28, 2024 | Economy, Small Business, Tax & Accounting
This tax season has seen many of our clients expressing concern about cashflow. Many small business owners are finding the cost of doing business more expensive and cashflow is a key concern. There are some key areas to focus on if you are finding cashflow...
by Financially Sorted | Sep 24, 2024 | ATO, Tax & Accounting, Tax Returns
Do you currently own an investment property or an expensive lifestyle asset like a boat or aircraft? The ATO are looking closely at these assets to see if what has been declared in your tax returns matches up. The ATO has initiated two data matching programs impacting...
by Financially Sorted | Sep 24, 2024 | ATO, Tax & Accounting, Tax Returns
Generally, a gift of money or assets from an individual is not taxed if the gift is given voluntarily, and nothing is expected in return. However, there are some circumstances where taxes may apply. Gifts from a foreign trust If you are a tax resident of Australia and...
