small business

Small Business Benchmarks

Small business owners can benefit by using the Tax Office’s small business benchmarks to compare their business performance with industry averages. What are Small Business Benchmarks? The small business benchmarks are financial ratios that have been extracted from more than a million lodged income tax and BAS returns. What are Small Business Benchmarks used for? The benchmark data is used …

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“Trusts” Explained Simply

A simple definition of a trust is: “A relationship in which one person (the trustee) holds assets (money, property, a business) for the benefit of another (the beneficiary).” Other parties in a trust structure include a “settlor” who contributes the initial trust asset (which may be anything, including a nominal $10 cash or even a house) to bring the trust …