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What you need to know about BFAs
A Binding Financial Agreement (BFA) is the Australian equivalent of a prenup. It is used to agree in advance on how a couple’s property and other assets would be distributed should their marriage or de facto relationship break down. The Agreement can cover financial settlement, spousal maintenance and any other incidental issues. BFA’s can be…
Getting to know your social media audience
Knowing your audience is a fundamental aspect of social media marketing for your business. A good social media strategy will use the business’s knowledge of their audience to determine the type of content they produce, what kind of promotional methods they use, when the best time to post is and where they should post. Narrowing…
Should you change accountants?
Don’t change your accountancy firm – It’s disruptive, time-consuming, and risky! Actually, nothing could be further from the truth. If your business is growing or anticipating growth and your existing accountancy firm cannot provide the level of service you need to support that growth, you should definitely consider switching to a firm that can. Are…
Paying tax on term deposits
The interest you earn from term deposits is subject to tax, just like your regular income. You have to declare investment income on your tax return, including interest in the year it was credited or received. The amount of tax you need to pay depends on the amount of interest you earn on your term…