Insights and articles.
Practical guidance on tax, accounting, and business strategy from the EEA Advisory team.
Family Trust or Company, Which Is Better in 2026?
Choosing between a family trust and a company in Australia depends on how you plan to earn, distribute and protect wealth. A company can suit businesses wanting a separate legal entity and retained profits. A family trust may be better for flexible income distribution, inter-generational planning and asset protection. The right structure depends on your goals and should be confirmed with tailored advice.
How Does the CGT 6-Year Rule Work in Queensland?
A Queensland homeowner who moves out of a former home can often keep the full capital gains tax exemption for up to six years while it is rented out. The rule comes from federal tax law, so it applies the same across Australia. This article explains how the absence rule works, how it interacts with a new home and why careful records matter. It also covers the Queensland land tax impact that can still apply.
What Can You Claim for Working From Home in 2026?
Australian employees working remotely or in a hybrid pattern can usually claim extra running expenses such as electricity, internet, phone, stationery and equipment depreciation. This guide explains the fixed rate and actual cost methods for the 2025 to 26 tax year, plus the records you need to keep. It also covers what is eligible, what is not and how to stay aligned with ATO rules.
How Does the $1,000 Standard Deduction Work?
The new $1,000 standard deduction is designed to make claiming work related deductions simpler for eligible Australian taxpayers from the 2026 to 2027 income year onward. It reduces taxable income rather than providing a cash refund, so the tax benefit depends on your marginal rate. This measure sits alongside existing deduction rules for costs like laundry, tools and home office expenses. It may help employees who want a simpler way to claim common work related expenses.
STSL Tax on Your Payslip: Meaning and Withholding Explained
STSL on your Australian payslip stands for Study and Training Support Loans. It means your employer is withholding extra PAYG amounts because you have a student or training debt and your income is above the repayment threshold. This is not an extra tax, but an instalment towards your compulsory annual repayment. The final amount is confirmed when you lodge your tax return.
ABN vs ACN: Which Does Your Business Need?
ABN and ACN are often confused, but they serve different purposes in Australia. An ABN identifies an eligible business for tax and invoicing, while an ACN identifies a company registered with ASIC. Sole traders, partnerships and trusts usually need an ABN only, whereas companies receive an ACN and then usually apply for an ABN as well. Understanding both helps you stay compliant and present your business correctly.
Statement of Account Explained—with Examples and a Template
Every Australian business needs clear insight into outstanding customer balances. A statement of account summarises all invoices, payments, credits and adjustments over a chosen period. This guide explains what a statement of account is and how to read and prepare one using accounting software. A worked example shows the running balance in action while a free template formatted for Australian dollars and GST is provided for practical use.
GST Registration Threshold: Calculating Turnover and When to Register
Understanding the GST registration threshold in Australia is essential for managing business finances. Most trading entities must register when their sales income reaches 75000 dollars, while eligible non profit organisations benefit from a 150000 dollar limit. This guide explains the rules in plain language and shows you how to calculate both current and projected GST turnover. With practical examples and a ready made worksheet, you can make an informed decision about registering for GST.
Current and Non-Current Liabilities: Small-Business Examples
This article explains liabilities in business accounting, clearly distinguishing current liabilities from non-current liabilities using the twelve month rule. It outlines why proper classification supports cash flow planning and meets Australian Accounting Standards and the Corporations Act 2001 requirements. The piece also details the difference between liabilities and expenses, emphasising the importance of accurate financial statements for assessing solvency. Small business owners can improve financial management with these insights.
IAS vs BAS: What’s the Difference?
Australian business owners often face confusion when deciding whether to lodge an IAS or a BAS. A BAS includes GST reporting for registered businesses while an IAS focuses on PAYG instalments and withholding for non-GST obligations. The ATO issues the specific form that matches your business registrations, ensuring you lodge the correct statement. Understanding these differences helps maintain tax compliance and avoid costly errors.
Break-Even Point: Formula, Examples and Calculator
Discover a simple break even point calculator designed for Australian business owners. This tool shows you how many units must be sold and the revenue needed to cover fixed and variable costs. The post explains the formula and offers worked examples, practical guidance and a downloadable spreadsheet. It is an essential resource for setting clear sales targets and planning for business growth.
The True Cost of Hiring an Employee in Australia
Australian employers must understand that salary is only the starting point. Additional expenses such as superannuation, paid leave loading, workers compensation and payroll tax can significantly increase the cost of hiring. A practical example shows how wages can extend from an 80,000 dollar salary to roughly 105,000 dollars per annum. Every business must account for one-off costs like recruitment fees and equipment, ensuring smoother cash flow and clearer decisions between hiring, contracting or outsourcing.