Reducing debt is easy in theory but exceedingly difficult in practice. We all need to borrow money at some point in our lives, whether it be to buy a house or start a business. Whilst debt leveraging can be a useful wealth-building tool, in most cases reducing or removing all debt will result in a…
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Overview It sounds contradictory and counterproductive but paying yourself first can be a very effective personal finance strategy for wealth generation. Implementation Decide how much you would like to spend each weak on your self. Decide how much you need to save each week to reach your savings goals. When your money comes in, set…
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Fitness expenses will be deductible if employees need an abnormal level of fitness to perform their job. Typically, this applies to only professional sportspeople, physical training instructors with the Defence Force & Police Force, firefighters, and special forces personal. Implementation Process: 1. Determine whether the employee requires above normal (extreme) levels of fitness to perform…
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Capital city: Adamstown Currency: New Zealand dollar (NZD) Population: 57 Language:…
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An incorporated association is a formal legal structure adopted by a broad range of non-profit organisations. Incorporated associations have the word 'incorporated' or the abbreviation 'Inc' in their name. Incorporated associations are subject to state or territory incorporation laws and are administered to by a government body within the relevant state and territory. As a…
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Taxation has existed for over 8,000 years. Mesopotamia, a historical region covering the Tigris–Euphrates river system, introduced a Bala tax in 6,000 BC. The taxes included livestock, fish, grain, labour and craft products. The idea of taxing income is a modern innovation and requires three things: a money economy, an accurate accounting system, and thirdly,…
Read More »The unique selling proposition (USP) is a marketing concept that states successful advertising campaigns make unique propositions to customers that convince them to switch brands. It is what makes your business unique and valuable to your customers. The term was invented by television advertising pioneer Rosser Reeves of Ted Bates & Company. Unique propositions…
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Capital city: Panama City Currency: Balboa (PAB) and United States dollar (USD Population: 4,034,119 Language: …
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Handbags, briefcases and satchels purchased to carry items for work purposes (such as laptops, tablets, work papers or diaries) may be deductible. The deductibility of the bag will depend on: Cost – It's easier to justify to the ATO that a $300 bag is for work purposes than a $10,000 Prada bag. Type – Large bags…
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Tax incentives for taxpayers: Personal income tax rates reduced. The personal income tax rates that were to apply from 1st July 2022 are brought forward to 1st July 2020. These changes involve: Increasing the upper threshold of the 19% personal income tax bracket from $37,000 to $45,000, and Increasing the upper threshold of the 32.5%…
Read More »"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2