As a sole trader there are many items you may claim as deductions to offset your operating expenses and reduce your taxable income. In this article we will cover what you can and cannot claim as sole trader tax deductions, the sole trader tax rate, how to pay tax as...
Category: Business Structuring
How to grow your business
Growing a startup business into something bigger and more profitable is the goal for many business owners, but how do you make it happen? We’ve worked with many young businesses and in our experience, the best growing small businesses take the time to design the right strategy, implement it and...
Family trust advantages and disadvantages
Even though discretionary trusts are more complex compared to other business models, it’s a popular option for those looking for flexibility, asset protection and control in their family business. In this article, we’ll go through the benefits and drawbacks of discretionary trusts to help you understand why they’re often suitable...
What is a partnership business? Advantages and disadvantages
When you’re starting a business with someone else, it’s important to choose a structure that gives you the right balance of flexibility and control. Many of our clients at POP Business operate a partnership and it’s one of the most common structures in Australia. However, like other business models, it...
Directors fees ato: Everything you need to know
Not sure if you’re doing everything right when it comes to paying directors’ fees? You’re not alone. Directors’ fees can be confusing because you need to follow procedural requirements when paying them. There are also ATO rules to be aware of if you want to claim them as a tax...