Franking Credits Explained: From the Company That Pays to the Shareholder Who Gets the Refund
In short: a franking credit is company tax already paid, passed to the shareholder with the dividend. It reduces the shareholder’s tax, and individuals and
Category: Business
Michelle Mikkelson
Michelle Mikkelson is an Accounting Manager at Crest Accountants, Gold Coast, holding a Bachelor of Business (Accounting & Economics). She specialises in SMSF and superannuation compliance, complex tax structuring, succession planning, asset protection, capital gains tax and TransTasman taxation, with specialist experience across the building & construction and medical sectors. Michelle writes for Crest Accountants on superannuation, business structuring, asset protection and taxminimisation strategies for Australian business owners.
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Instant Asset Write-Off: Who Qualifies, the Car Limit and What 30 June Decides
In short: if your business has aggregated turnover under $10 million and uses the simplified depreciation rules, you can immediately deduct the business portion of
Small Business Restructure Rollover: Changing Structure Without a Tax Bill
In short: the small business restructure rollover moves your active assets into a different entity at cost instead of market value, so no income tax
Company Tax Rates: 25% or 30%, and Which Applies to You
In short: a company pays 25% if its aggregated turnover is under the threshold and no more than 80% of its assessable income is base
Trust vs Company: Which Structure Is Right for Your Business?
Neither structure is better. A company is built to hold and reinvest profit at a flat rate. A trust is built to distribute it flexibly,
Division 7A Explained: When a Company Loan Becomes Taxable
In short: money taken out of a private company by an owner or their associate is treated as a taxable, unfranked dividend unless it is
Setting Up a Family Trust: Tax Benefits and ATO Scrutiny
A family trust can be one of the most effective structures in Australia for splitting income, protecting assets and passing wealth between generations. It can
Fringe Benefits Tax (FBT) Year-End: What Business Owners Need to Know
Fringe benefits tax is one of the easiest taxes for a business owner to get wrong, because it is separate from income tax, self-assessed, and
Tax & Super Essentials When Working With Subcontractors
Engaging subcontractors can offer your business flexibility and specialised expertise, but it also comes with financial and compliance responsibilities. From tax and superannuation obligations to
Do you need to review and update your business plan?
The new year is a good opportunity to sit down and review your business plan. It can be easy to create your plan, stick it
