Year: 2025

The main residence CGT exemption is one of the most valuable tax outcomes available to Australian property owners because it can remove Capital Gains Tax when you sell your family home. For small business owners, understanding how the CGT main residence exemption works helps you manage tax liability, protect profit from a future sale, and…

What does liquidation mean for Australian small businesses? A bookkeeper’s guide like this explains what happens when a company can no longer pay its debts and needs a structured exit. Liquidation is the process of winding up a company’s affairs, selling assets, and using the proceeds to pay creditors in a set order while a…

Understanding taxable income for small businesses in Australia begins with this: taxable income is the amount before you pay tax or the income tax is applied. It is calculated by taking your gross income, including wages, salaries, business services, and other money received during the income year, and then subtracting allowable deductions such as business…

Insolvent trading is a critical risk for Australian small business owners, as the Corporations Act requires that company directors act responsibly when a company is insolvent or unable to pay all debts as they become due. Directors who allow a company to incur new debts while facing financial difficulties put themselves at risk of severe…