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Maximising Profits: Financial Strategies for Allied Health Businesses

Imagine waking up each morning, excited and motivated to grow your Allied health business, knowing that every decision you make contributes to your financial success. For many business owners like Jason, turning over $500,000 in revenue, this dream seemed distant amid the challenges of managing finances effectively. Jason had a clear vision for his business …

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Asset vs. Share Purchase in Australia: Making Informed Business Decisions

Introduction When it comes to acquiring or selling a business in Australia, one of the most critical decisions to make is whether to opt for an asset purchase or a share purchase. Each method has its own set of advantages and disadvantages, and the choice you make can significantly impact the outcome of the transaction. …

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The Importance of Financial Literacy: A Path to Financial Freedom

Financial literacy is often considered one of the most critical life skills, yet it remains an area where many individuals fall short. It encompasses the knowledge and understanding of various financial concepts, including budgeting, saving, investing, and managing debt. In an increasingly complex financial world, the importance of financial literacy cannot be overstated. In this …

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Questions to ask your accountant – where do I start, right?

Accountants can be a little scary, let’s face it. They talk about balance sheets, P&L, accounts receivable and payable, capital, assets… It can often feel like they are speaking another language. But here are a few questions you should ask your accountant, and keep asking until you fully understand the answers. It’s not all the …

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Trust Structure

What is  TRUST?   Trusts are widely used for Investment and business purposes.   A trust is not a separate legal entity, as is a company. Rather, a trust is a legal relationship that exists between a trustee and beneficiaries…. What is  TRUST? TYPES OF TRUST? There are different kinds of trust, and the most …

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Superannuation

What is Superannuation? Superannuation is your long-term investment plan upon retirement. For most people, super begins when you start work and your employer starts paying a percentage of your salary or wages into a super fund account for you. Your… What is Superannuation? Superannuation is your long-term investment plan upon retirement. For most people, super …

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Taxable Payment Annual Report (TPAR)

Taxable Payments Annual Report (TPAR) Businesses that engage in hiring contractors in certain industries, may need to lodge an annual Taxable Payment Report to ATO every year by 28th of August. In ATO terms, contractors include: Subcontractors Independent Contractor Consultants… In ATO terms, contractors include: Regardless of which business structure your contractor operates, you still …

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What is Knowledge Assist?

Knowledge Assist is a platform designed to assist start-ups and small businesses to equip themselves with bookkeeping, tax, and financial information. We see many small businesses do not have resources of an expert team behind them or credible financial information to build a successful business. Definition:  Knowledge Assist is a platform designed to assist start-ups …

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