It’s a simple, step-by-step process used by many Australians to increase their income. Borrow money from a financial institution, invest in a second property and pay off the loan with the profit accrued from the investment property (ie. rent from tenants). But did you know that the interest on a home loan for the purchase…
There have been critical changes to the workplace over the past year. With many office-based employees forced to work remotely or from home during the pandemic, the adaptation of new technologies, systems of work, and overall business models has changed the office’s approach. Many office businesses may need to reevaluate their structure and model as…
If you’re self-employed, you aren’t required to pay yourself super guarantee payments. It is however a recommended way to save for your retirement, and making personal super contributions could be beneficial for you in the long run. As a self-employed individual, you can make regular or lump-sum payments to your super, potentially claim a tax…
If you or someone that you know began a side business (or “side hustle”) during the last financial year, you would have to meet the tax obligations that come with that business, along with the tax obligations of your primary business. All income earned through a side business is taxable income. That means that every…
Every little bit of money counts in today’s economic climate, and for many, it’s about making what they have, work for what it is that they need. Money management is an important skill to learn as it helps boost finances with very simple steps. Money management can ease the stress and financial worries of people…
Checking that your pay as you go instalments (PAYG) still reflect your expected end of year tax liability is a good idea. PAYG instalments can be varied multiple times throughout the year, with the varied amount or rate applying to the remaining instalments for the income year, or until another variation is made. PAYG instalments…
