Tips for claiming GST credits

You can claim GST credits for most business purchases. However, there are some things that are GST-free or that you can’t claim for various reasons. If your suppliers aren’t registered for GST, you can’t claim GST credits. That applies even if they give you a tax invoice with an ABN and GST amount on it. … Read more

Tax tips for sole traders

If you’re a sole trader and need to get your taxes organised, start by reading these expert tips for maximising your return and get a jump start on next financial year. End of financial year can be stressful for any business owner, especially when it comes to completing your tax return. But rest assured, with … Read more

Switching home loans

Refinancing your home loan to take advantage of a lower interest rate might save you money. Before you switch, make sure the benefits outweigh the costs. If you’re struggling with your home loan repayments, see problems paying your mortgage for help. Before you decide to switch If you’re thinking about switching home loans, you’re probably focused on … Read more

EOFY: 5 bad habits small business owners should break in 2021

Looking to stay on top of your bookkeeping ahead of EOFY and minimise your tax burden? Start by dropping these five habits. The way a business operates internally generally impacts how they appear on the outside. Robust internal practices give an organisation the agility that it needs to stay a step ahead, while the opposite … Read more

Super contributions

If you’re employed, your employer should be paying a percentage of your earnings into your super account. It’s worth checking to make sure you’re being paid the right amount. If you can afford it, making extra contributions is a great way to boost your retirement savings. And it can reduce your tax. If you’re on … Read more

Why investing in bonds still adds up

By Tony Kaye, Senior Personal Finance Writer, Vanguard Australia As an investor, it can be worrying when returns move into negative territory. Many of us are used to seeing that with share investments, but it’s less common when it comes to high-quality, investment grade bonds. In recent months, however, that’s exactly what’s been happening with … Read more

Preparation Checklist

Purchasing your first home is a huge milestone and cause for much deserved celebration. To ensure that achieving this milestone is as smooth and enjoyable an experience as possible, we’ve outlined the steps that need to be taken. 1. Prepare yourself for a huge commitment A mortgage is a long-term, ongoing commitment that should not … Read more

Aged care

If you need help in your home, or can no longer live independently, the Australian Government provides a range of aged care services. These services are subsidised, but you need to contribute to the cost if you can afford to. Where to start The first thing to do is think about what you need. You … Read more

Risk in retirement: finding the right balance

For many of us, retirement means dream holidays, reading books and spending time with grandchildren. However for some Australians, the notion of enjoying their golden years after a lifetime of hard work hit a roadblock last year when COVID-19 struck, and hit economies and markets hard. Many businesses were affected by COVID-19 and the associated … Read more

10 things you must consider before buying a business

Before you come close to signing on the dotted line, there are 10 important factors to consider closely, writes accountant and business advisor Nick Roberts. Starting a business from scratch and going without income in the initial period can be a daunting prospect, so it’s tempting to buy a business instead. But before the excitement … Read more