Do you run a contracting business through a company or trust? Do you intend to split income with a spouse or pay your spouse for bookkeeping and administration? If so, you need to be aware of the ATO’s personal services business rules that prevent income splitting and payments to spouses.

Do you want to know whether your family trust should have a corporate trustee or an individual trustee? Making a wrong choice could have significant unintended consequences so it's important to understand the differences. This article lists the relevant issues and the pros and cons.

Tax on profits can be as high as 47%, causing you to lose a large amount of any gain, whilst the claiming of tax losses can be difficult due to complicated rules. You may end up paying more tax than you need and feel the pain that this money is gone forever.

If you are selling your business, you may be able to make the sale tax free. There are, however, some complex rules concerning this that you need to become familiar with, to ensure you don’t pay more than you have to.

Are you planning on starting your own business? If yes, do you want to be prompted to consider things you may not have thought about and maximise the chances of success? 

The proposed tax cuts to the company tax rate has been met with fierce opposition and much debate. Is it a good idea or not?

Xero’s latest release promises machine learning, saving time and decreased errors with invoice coding. Fantastic!

Typically, the sale of a business will be on ‘capital’ account and if a profit is made, capital gains tax will be payable. The alternative to this is a sale on ‘revenue’ account and if a profit is made, the profit will be treated like other sales revenue.

Accounting automation gets a boost, with Xero's claims that its next update will automate the coding of invoices and bank transactions.

Driving a ute? Think you're exempt from Fringe Benefits Tax? Think again. Any vehicle private use that is not merely from home to work or back will create an FBT liability.

Now that the election has been decided, it was hoped there would be some clarity around superannuation and the biggest changes to superannuation in recent memory made in the recent May budget.

Evernote's a fantastic tool to store notes and information. This is a handy guide from the Evernote blog for how to use it best...

Now that the election has been decided, it was hoped there would be some clarity around superannuation and the biggest changes to superannuation in recent memory made in the recent May budget.

So you’ve heard about cloud accounting but aren’t sure why it’s better than your desktop software? Here’s a list...

Working out where you are making your money can be really tough if you have different staff working for different times on different projects, products or customers.

Receipt-bank is a software application that allows you to record and store all your bills, invoices and receipts electronically with the click of a button.