You must make a binding death benefit nomination to maintain control and certainty over who will inherit your superannuation assets after you pass away. Contrary to what you may think, your will does not automatically control the payment of your death benefits. If you do not make a binding death benefit nomination, your super trustee…
Small businesses entitled to refunds of GST may not be aware of the four-year time limit on claiming those refunds. Your entitlement to a GST credit ends four years from the due date of the earliest activity statement in which you could have claimed it. GST refunds are claimed under the indirect tax concession scheme…
Simply put, marketing your services should consist primarily of four steps: Informing as many people as possible of your existence Leading them to develop an interest in your services Persuading them to meet with you Move from client enquiry to client engagement Here is a simple ten-point strategy for achieving these objectives: Emphasise Persuasion Making…
Superannuation may not be the first thing that springs to mind as a self-employed individual, but just like how looking after your tax and business expenses benefits you, superannuation is an important subject to consider. While you don’t need to pay super to yourself, it might help you feel more secure about your finances during…
Regardless of whether or not the owner is a company or an employee, a car purchased for business use can provide tax benefits to the owner. However, there are also tax implications that can impact these supposed benefits. Certain advantages and disadvantages to purchasing a car for a business may not necessarily apply to your…
Providing your business with insurance is like providing a safety net to a trapeze artist. You hope that you won’t need it, but having it in place adds security and protection if the worst-case scenario should occur. Your business may require certain types of insurance, depending on the circumstances. These may be because it is…
