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Small Business Grants NSW

The Small Business Grant is a key priority of the New South Wales Government. The grant is designed to encourage the nearly 650,000 small businesses in New South Wales that do not pay payroll tax to hire new employees and expand their business. Eligibility  To be...

Tax Law Partnerships and Apportioning Profits and Losses

How do tax law partnerships differ from regular partnerships? A tax law partnership is defined by the ATO as an ‘association of persons (other than a company or a limited partnership) … in receipt of ordinary income or statutory income jointly’. This differs to...

Tribunal decisions affecting self education expense claims

As a result of the attention placed on these claims, audit adjustments and penalties being imposed on individuals are a common occurrence.  Outlined below are two examples of cases that the ATO had adjusted and imposed penalties on the respective individuals. In both...

Resolving your Building Disputes

Building or renovations can be a stressful time for you as you wait to see your dream home or building come to life and unfortunately things may not always go to plan. Disputes may arise between you and your builder or tradesperson. However there are a number of steps...

How much is my business worth?

It’s a question we get asked all the time. To be frank, the question of how to value a business does not have a clear answer – it’s a mix of both art and science. Despite that, this article endeavours to outline some of the considerations business valuers make while...

Do you receive income as an Airbnb host?

Airbnb has become hugely popular since its emergence in California in 2008 and is now present in over 190 countries. Using apps and its website, Airbnb is able to advertise millions of properties world wide for individuals or groups seeking accommodation....

Share Sale Vs Asset Sale

The tax and non-tax consequences arising from the purchase of a business vary significantly based on whether the transaction was the purchase of business assets or purchase of shares/units. The table below sets out 6 key considerations for a purchaser: Consideration...

Buying or Selling a Business – What You Need to Know

The process of buying or selling a business can be complex, time-consuming and stressful. This article outlines answers to some of the most frequently asked questions from both business buyers and sellers, and is a must read for anyone who has ever considered making...

Technological Trends in Business

The use of ‘big data’ Big data refers to large data sets that can be analysed to reveal patterns or trends. Businesses are now increasingly using big data to identify the current trends of their customers and any opportunities they may have in the market. Therefore,...