PrimeAdvisory

It may seem like a simple question, but there’s no doubt many business owners in Australia struggle to know how much to pay themselves.

The answer depends largely on what stage your business is currently in: the start-up phase, the scale-up phase, or a more mature one.

Owners in the start-up and scale-up phase of business can often find it difficult to calculate a salary they can reliably pay themselves each month.

Have a read of some of the positives and pitfalls of determining a reliable salary to pay yourself as a business owner.
https://hubs.la/Q02DwCkQ0

Feeling the cost of living? The federal government has made changes to tax brackets to try and alleviate those pressures.

As announced in the federal budget last May, those headline tax-time changes include the 19% tax rate being cut to 16%, while the 32.5% tax rate has been reduced to 30% for this financial year.

Just as notable is an increase in the threshold above which the 37% tax rate applies. That threshold is now $135,000—up from $120,000—while the threshold above which the 45% tax rate applies has risen from $180,000 to $190,000.

If you’re keen to calculate how much tax you should be paying, you can use the federal government’s income tax calculator for an estimate https://hubs.la/Q02DwB4P0

The start of a new financial year means a raft of new tax changes—and this year is no exception.

The biggest changes this year include:

• a reduction in the 19% tax rate to 16%
• a reduction in the 32.5% rate to 30%
• an increase in the income threshold above which the 37.5% tax rate applies, from $120,000 to $135,000
• an increase in the income threshold above which the 45% tax rate applies, from $180,000 to $190,000.

There are also changes to the Superannuation Guarantee (SG), plus a lifting of the superannuation cap.

There’s also a $300 energy rebate for Aussie households struggling to keep a lid on the cost of living.

🔎 Check out everything that’s changing on July 1 right here.
https://hubs.la/Q02DwCX70

You’ve been granted access to an Employee Share Option Plan… so what’s your tax plan?

While ESOPs can be highly lucrative, without a defined strategic approach they can also create hefty tax bills.

Here’s what you absolutely must be across with these share plans, to reap the rewards and avoid the pitfalls.
https://hubs.la/Q02D6vnF0

It’s the end of the financial year—which means for business owners, it’s time to get your financial affairs in order.

Here’s a quick to-do list to help you prepare.

• Review your record-keeping processes and organise your financial records
• Finalise your Business Activity Statements (BAS)
• Prepare a taxable payments annual report (TPAR), wherever necessary
• Finalise your payroll obligations
• Take stock of inventory, assets, and liabilities
• Review and complete your reconciliations for FY23/24
• Maximise your tax deductions and concessions
• Start preparing for FY24/25.

Still worried about organising your finances? Take a read of the rest of our EOFY tips. https://hubs.la/Q02DmpKj0

If you’ve inherited a property, prepare for things to get complicated—notably if you’re aiming to sell the asset.

Complexities largely revolve around capital gains tax. Various factors determine if, when, and how it applies.

To reduce the confusion, we’ve created a handy article that breaks down the tax implications of selling an inherited property.

It outlines several common scenarios, to make it easier to get your head around what’s at play.

Take a look: https://hubs.la/Q02ycsXm0

Exciting times!

We’ve just been named a Xero Platinum Partner—the highest status level of the partner program.

If you use Xero’s popular accounting software for your businesses, this is good news for you, too.

It means you have someone in your corner who knows how to best leverage the software and maximise its many pluses.

To achieve platinum status, our advisors must have a deep understanding of the product, actively engage with it, and undertake substantial training to remain up to speed with its latest upgrades and features.

And this is critical knowledge that we can pass on to you.

Keen to learn more? Get in touch today.

How much is your business really worth?

It’s a question every business owner is curious to know the answer to.

But it’s often tricky to get a read on the value of a business, not helped by elements that are typically out of your control.

In saying that, there are a bunch of factors that reliably make such assets more attractive to buyers.

We outline these and detail other considerations that can help to give you the best chance of securing a price you’re content with.

Take a peek: https://hubs.la/Q02ycbY30

Want to lower your taxable income?

The end of the financial year is closing in, so the time to act is now.

Tax-planning strategies must be in place before the 30 June deadline.

That’s not all…

We suggest planning for the next financial year while you’re at it—to make the most of opportunities.

You work hard for your money, so let’s keep as much of it in your pocket as possible.

Our Ultimate Guide to Tax Planning is loaded with top tips and other essential info tailored to small business owners.

📩 Download your FREE copy: https://hubs.la/Q02ycs-30

Book an appointment with PrimeAdvisory today.

Drop us a line at [email protected] to make it happen.

“With Employee Share Option Plans (ESOPs), it is absolutely vital to plan accordingly—otherwise you can create savage tax bills for yourself.”

PrimeAdvisory Director and Employee Share Scheme Specialist, Angus Rodgers, has a few wise words to share with those who’ve earned themselves an ESOP.

It makes for essential reading.
https://hubs.la/Q02yc1hc0

Want a tax deduction this year?

Of course you do!

Well, there’s a proven strategy centred on superannuation.

Did you know that money invested in super is taxed at a lower rate than your personal income?

By making additional super contributions, there are serious tax benefits to reap.

Personal contributions are particularly useful if you’re nudging higher marginal tax rates, but there are ample positives.

The crucial part is getting the balance right—and that’s where Prime comes in.

We’re experts at delivering tailored tax advice to individuals and business owners.

Get in touch with us at [email protected] to start the conversation.

Calling all business owners…

We’re arming you with a handful of tax-planning strategies as we gear up for the EOFY.

Proven tactics that get results.

But the best time to start executing the strategies is now.
https://hubs.la/Q02vPxbK0

“I’ve never seen a set of financials that I cannot add value to.”

These are the bold words of PrimeAdvisory founder, Christian Borkowski—but he has a proud record to back them up.

And this is a compelling reason to book an expert business structure review with us.

The sessions deliver proven tax and asset protection strategies, to help strengthen your business.

Better yet, these reviews are available at a seriously competitive price—but only for a select number of businesses.

Find out more: https://hubs.la/Q02wjtkG0

Stressing about tax time?

Let us help.

At Prime, we’ll arm you with top tips and the latest insights to help you hang onto more of your money when the ATO comes knocking.

⬇️ Get started here: https://hubs.la/Q02xvtjy0

Or for tailored advice, reach out to our trusted team. We’ll dive into the numbers to help minimise your tax contribution and deliver you with more savings.

Don’t delay—the 30 June deadline is fast approaching.

Email [email protected] to start the conversation.

Want a tax deduction this year?

Of course you do!

Well, there’s a proven strategy centred on superannuation.

Did you know that money invested in super is taxed at a lower rate than your personal income?

By making additional super contributions, there are serious tax benefits to reap.

Personal contributions are particularly useful if you’re nudging higher marginal tax rates, but there are ample positives.

The crucial part is getting the balance right—and that’s where Prime comes in.

We’re experts at delivering tailored tax advice for individuals and business owners.

Get in touch with us at [email protected] to start the conversation.

If you thought nominating a business structure for your family venture was a mere tick-box exercise, think again.

The structure has far-reaching implications, from taxes and legal liabilities to ownership and decision-making.

It also shapes your business’ strategy and future direction.

We dive into the pros and cons of each structure and what you must consider.
https://hubs.la/Q02vPwlq0

Honest answers only…

Is your business structure the right one for you?

Incorrect business structures create negative tax implications and heighten asset protection risks.

But there’s a simple solution—a PrimeAdvisory business structure review.

These 30-minute sessions with an expert senior financial advisor could prove critical to your business.

Don’t delay—reviews are strictly limited.

Details: https://hubs.la/Q02wjvg60

Crypto trading and tax obligations—it’s a complicated mix.

And it’s a pairing the ATO has a keen interest in as tax time nears.

Unsure of what you need to do?

Then, reach out to PrimeAdvisory Senior Advisor, Tom Henman.

Helping clients navigate challenging crypto-related tax responsibilities is his speciality.

Tom will discuss your obligations and detail relevant strategies—lessening the potential for a nasty tax bill.

Email Tom at [email protected] to find out more.

Is your business set up with the right structure?

Find out with an expert business structure review, led by our talented team of senior financial advisors.

Available to a select number of clients only, these essential sessions could make a world of difference to your prized venture.

Their core focus is on leveraging tax benefits and ensuring critical asset protection—and we’ll walk you through personalised strategies.

Don’t let this opportunity slip by.

More info: https://hubs.ly/Q02vPfC40

Superannuation contribution caps are set to rise on 1 July, signalling the first increase in three years.

The change opens the door to leveraging tangible tax savings—with the right strategy.

We reveal how to take advantage.
https://hubs.la/Q02vPsz-0

Business owners, take note.

Did you know that investing in a self-managed super fund can be a seriously smart move?

In some cases, it’s a no-brainer.

This particularly applies to a business owner who wants to operate from their own premises—that property can be owned inside the SMSF.

And there are top tax benefits down the track.

We divulge the proven strategy in The Complete Guide to Self-Managed Super Funds.

Get your hands on this must-have handbook now.

👉 Head here: https://hubs.la/Q02sMXPr0

"We know one thing that commonly draws people to an SMSF is the ability to invest in property,” declares PrimeAdvisory Director and Senior Advisor, Ben Norval.

“That opens up a whole world of opportunities—from tax benefits to leveraging property appreciation.”

Interested in self-managed super funds and the opportunities to invest in property?

We detail the ins and outs of this hot topic here: https://hubs.la/Q02sMXBs0

There are tangible benefits to establishing a self-managed super fund.

Compared to a regular fund, an SMSF allows its members:

✔️ Access to a broader range of investment options
✔️ Increased flexibility with investment choices
✔️ Opportunity to leverage enhanced tax benefits
✔️ Greater scale to access investment opportunities

And more.

We outline the pluses and plenty else in The Complete Guide to Self-Managed Super Funds.

It’s ‘super’ handy if you’re thinking about starting your own SMSF.

Grab the guide today: https://hubs.la/Q02sMXJ10

Did you know you can purchase real estate within a self-managed super fund?

It’s a key reason why many Australians choose to invest in an SMSF.

But there are all-important regulations and compliance requirements that you must be across.

We explore this and so much more in The Complete Guide to Self-Managed Super Funds.

It’s a must-read if you’re entertaining the idea of creating your own SMSF.

🔑Get your hands on it now: https://hubs.la/Q02sFlxz0

The Australian Taxation Office has stepped up its efforts to chase down missing tax revenue.

They’ve been quietly using the Random Enquiry Program (REP) to conduct intensive reviews of businesses of all shapes and sizes and ensure they’re meeting all of their PAYG, superannuation, and FBT obligations.

While there may only be a slim chance of your business ever coming under review, it’s still worth talking to a tax expert to make sure you’re not missing any important contributions.

📉 Read on to find out more about how the ATO is cracking down on businesses failing to fulfill their tax obligations: https://hubs.ly/Q02sbXv10

And if you do need some tax advice, don’t hesitate to give us a call.

What are SMSFs all about?

We reveal all in The Complete Guide to Self-Managed Super Funds.

This handy resource dives into how SMSFs work, what they can invest in, key advantages, who they best suit, and much more.

If you’re curious about the world of SMSFs, and how they can help to boost your retirement savings, this is essential reading.

👴 Grab your copy now: https://hubs.la/Q02svLtB0

Can SMSFs buy property? It's a surprisingly common question.

In short, the answer is yes. And it’s a big reason why many people choose to open a self-managed super fund.

This flexibility creates the potential to unleash exciting strategies to leverage tax benefits and property appreciation—and to help grow retirement savings.

The opportunities are even greater for business owners who want to operate from their own premises.

But there’s plenty to get your head around in this space.

🏘️ Unpack it all with this insightful read:
https://hubs.ly/Q02sbXlp0

You’d be surprised by how often the question gets asked—but it absolutely is possible to build wealth without owning a home.

It takes some financial discipline and a sensible approach to investing, but there are ways to build your nest egg that don’t rely on owning property.

🏡 Take a look at some of our top tips for building wealth without owning a home.
https://hubs.la/Q02qRnQW0

What’s the secret to success?

Believe in yourself, surround yourself with good people, work towards a common goal—and have fun!

That was the advice former Aussie cricketer Glenn McGrath gave to the room at the recent SMSF Association conference in Brisbane.

Our founder Christian Borkowski and SMSF Manager Chathuri Nanayakkara attended the conference and were struck by the former Aussie fast bowler’s warmth and humility.

There was also plenty of discussion around how artificial intelligence could be used to improve the financial industry going forward.

If you’re keen to find out what’s possible for your super, drop Chathuri a line at [email protected] to learn more.

Worried about how November’s upcoming US presidential elections might affect the stock market? You shouldn’t be.

All the long-term data suggests that while stock markets across the world can expect some short-term volatility, there’s little difference in stock market performance between election years and non-election years.

🇺🇸 Have a read of why you shouldn’t be too concerned about the impact of election results on the stock market.

https://hubs.la/Q02qwZqW0