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Understanding the Basics of Personal Income Tax
LAST UPDATED ON: Jan 6, 2022
Australian residents pay income tax on all forms of income, after a tax-free threshold of $18,200. Tax is calculated at four different rates according to how much income you earn each year, and the tax rate increases the more you make. The highest tax bracket applies to those with a taxable income of more than $180,001.
Keeping your business cash liquid – the difference between cashflow and profit
LAST UPDATED ON: Jan 10, 2022
The foundational goal of any business is to make a profit. As a business owner, that’s one of your key financial aims – to make enough sales, at a big enough margin, to generate profit from your enterprise. But how does profit differ from cash flow? And why is cash king?