Company funds Vs. Personal funds: withdrawing money the right way

CraigGeneralLeave a Comment

  Many newly incorporated companies that have previously been sole traders find it difficult to distinguish between company money and personal money. As a company director, you’re entitled to receive some form of income such as a salary. However, unlike a sole trader you can’t simply withdraw money whenever you like and use it for personal expenses. This is in … Read More

BUDGET 2016/17: A Budget Of Targets

CraigGeneral, TaxLeave a Comment

As the Treasurer foreshadowed, this is a budget of targets – a big, long-term crafted budget designed to give enough pre-election glow but with structural measures to reign in spending and reduce concessions. Highlights included: Company tax rate reduced to 25% over 10 years Increase in tax discount for unincorporated small business to 16% over 10 years Small business entity threshold increase … Read More