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Tips and articles to help you implement Profit First and take control of your Australian small business
Making it rain – Gifts & Incentives for Employees
It is quite common for employers to reward employees with gifts on top of their normal salary and wage from time to time. Most small business owners would not have a business without the small team of dedicated employees that come to the office every day and work like...
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Business Structures 101: Part 3 – Partnerships
A partnership is a common and relatively inexpensive way to set up a business in which more than one person has control and ownerships. It involves two or more owners (the partners) operating a business together with the intention of making (and sharing) a profit....
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Business Structures 101: Part 2 – Sole Traders
Establishing a business as a sole trader is as simple as jumping onto the Australian Business Register website and apply for an Australian Business Number (ABN). There are virtually no additional overheads, unless you choose to register a business name through ASIC...
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Capital Gains Tax & Investment Properties
A rental property can be a great investment option. Real property offers a consistent return and when combined with negative gearing investors can enjoy tax savings while achieving capital growth in the value of the property. However, eventually the Australian...
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Michael E. Gerber’s The E Myth Revisited – Why Most Small Businesses Don’t Work and What to Do About It.
I recently decided to give in to pressure from friends and mentors and read Michael E. Gerber’s The E Myth Revisited – Why Most Small Businesses Don’t Work and What to Do About It. The book is a worldwide best seller and had been recommended to me time and time again....
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5 reasons why you should (or shouldn’t) lodge your own tax return
Unless your income and family situation remains the same year after year, your tax situation is going to change over time. As the complexity of the return increases so too will the need for professional advice. The question, “will I lodge my own tax return or speak to...
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