Xero integration is coming to TaxFitness! Soon you will be able to import data from Xero directly into the TaxFitness software.
Read More »
The Treasury Laws Amendment (Electric Car Discount) Bill 2022 proposes to remove Fringe Benefits Tax (FBT) on eligible cars provided by employers to current employees for private use. The exemption applies under the following circumstances: To eligible electric vehicles first held and used after 1st July 2022. To cars with a purchase price below $84,916…
Read More »
For the unemployment rate to drop for healthy sustainable reasons, employment must increase faster than the working-age population. This way, growth in employment accounts for the increase in the working-age population and migrant workers coming to Australia. So to maintain job growth, we are forced to hire from the unemployed rather than bringing in workers…
Read More »
Non Fungible Tokens (NFT’s) are digital assets (commonly but not restricted to images such as PNG’s or JPEG’s) that are minted on the blockchain. In other words, they are stamped as the original digital asset. Anyone can copy an image, but the NFT will always be the original and can therefore be assigned value. The…
Read More »
Subscription-based services have become the financial model of the decade for a reason. Why give ownership to a customer for a one-time fee when the same customer can pay you every month for life on a subscription. How much are you spending on subscriptions each year? If you don’t know the answer to this…
Read More »
Division 7A is an ATO integrity measure to ensure that private companies don't make tax free distributions of profits to shareholders or shareholders' associates in the form of payments, loans and debts forgiven. These rules only apply where the companies have retained profits. Under Division 7A shareholders or associates who receive payments or loans from…
Read More »
Cryptocurrencies, non-Fungible tokens (NFT’s) and crypto domains are all products of the skyrocketing blockchain industry. The amount of money moving through the blockchain community is incredible and draws a crowd of hopeful goldrushes. Thousands are leaving their jobs in Hong Kong and the US to create start-ups dedicated to creating and selling NFT’s. High profile…
Read More »
Good money habits are small and boring but make a big difference over time. First, figure out what you want. Are you trying to: Buy a house? Clear debt? Save for a life event such as a wedding? Create an emergency fund? Pay off your mortgage? Once you know your goal(s) and your timeline, use…
Read More »
Whether you love or hate Christmas shopping, most of us are obligated to spend thousands each year on what ultimately leads to billions of tons of landfill the following year. And it’s not just Christmas. It’s the birthday of every kid in your child’s class. Easter, Halloween, Valentines, the list goes on. Endless consumption of…
Read More »
A testamentary trust (sometimes referred to as a will trust or trust under the will) is a trust which arises upon the death of the trustor, and which is specified in his or her will. The three parties involved in a testamentary trust are: The trustor – Person who specifies that the trust is created and…
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