Stay ahead of the ATO’s 2025 focus areas to keep your business compliant and avoid costly penalties. From correctly distinguishing business and personal income to accurately claiming deductions, understanding these key issues can help you steer clear of common tax pitfalls.
Choosing a corporate trustee for your SMSF provides significant advantages from enhanced liability protection to streamlined administration, while ensuring rigorous regulatory compliance. Despite initial setup costs, these benefits often outweigh those of individual trustees, making it a prudent choice for effective long-term management of your super fund.
The Government, acknowledging the strain of the rising cost of living, has recalibrated the indexation of HECS/HELP loans to alleviate the burden on Australians. The annual indexation rate has been reduced to 3.2% to alleviate the alarming pace of debt accumulation.
Setting a foundation for success means prioritising sound business practices like effective cash flow management and meticulous record keeping, bolstered by the right digital tools. Resources like the Cash Flow Coaching Kit and how to utilise separate bank accounts can enhance understanding of this.
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