How to Find a Good Bookkeeper for Your Business
Navigating the complexities of today’s business landscape requires more than just a sharp mind for innovation and a keen eye for market trends; it demands a solid grasp of your financial health and the ability to use that information to make informed decisions. This is where the true value of a skilled bookkeeper comes […]
A Quick Guide on How to Cancel Your ABN
Whether a small business owner or sole trader, you know that the ABN is at the heart of your business. It’s your unique identity when paying taxes, getting business loans, or any other financial transactions related to your business. Naturally, cancelling your ABN is a major step. You might need to do this if […]
How Many ABNs Can You Have in Australia
Recently, Australia has become a magnet for new businesses. The data supports this trend. In 2023, more than 400,000 new businesses set up their shop in the land down under. The credit for this growth goes to the ease of doing business in Australia. One of the key elements of running your business smoothly […]
What Tax Deductions Can I Claim When Working from Home
Australia has seen a remarkable shift towards working from home (WFH), especially post-pandemic. The latest data by the Australian Bureau of Statistics (ABS) states that 37% of Australian workers are taking advantage of remote work arrangements. Besides offering convenience, working from home also provides some tax deductions. These working-from-home tax deductions range from occupancy […]
How to Find the Best Super Fund for Low-Income Earners
In Australia, superannuation, often called ‘super’, is like a savings account for when you retire. It’s one of the best ways to plan your retirement. You might think that super doesn’t matter as much because you earn less. On the contrary, if you carefully plan your low-income super contribution, you can rip the benefits […]
Why Casual Workers Are Entitled to Super
There’s a lot of confusion that comes with the unstable hours of casual work. Savings, finances, retirement funds – there are a lot of financial factors that are often overlooked. So do casual employees get super? Yes, casual employees should have a superannuation fund. If you’re over 18 and earning more than $450 before […]
What Are Fringe Benefits? Australia Guide
It’s disheartening to see how easily the essential needs and wellbeing of employees can be overlooked by employers. The hustle culture has led to a widespread undervaluing of the very backbone of any company: their workforce. As businesses focus intently on profit margins and efficiencies, the importance of providing employees with meaningful benefits often falls […]
What Do You Need for A Business Loan in Australia?
Australia is the land of opportunity. But still, securing a business loan in Australia, especially for small businesses, which are nearly 98% of all Australian businesses, can often feel like trying to catch a kangaroo on a skateboard – it’s possible but requires skill, the right equipment, and a good dose of determination. Every business needs […]
How to Lower Your Contributions Tax in Australia?
Planning your retirement is rarely easy. Sure, you would want to save and invest as much money as you can into your super fund. But that isn’t enough. Most Aussies tend to forget about one critical part of retirement planning – how much tax you pay on your super contributions. Nobody likes paying taxes. No, […]
The Pinch of Taxes: Are You Paying Too Much?
Taxes, if we’re all being honest with ourselves, can feel like a straight-up robbery in broad daylight. And it doesn’t help when you read through articles filled with tax jargon. Let The Bookkeeping Studio explain things for you. So why do you think you’re getting taxed so much in Australia? It might be one […]