This penalty, also known as the Superannuation Guarantee Charge, is determined based on the owed amount and comprises three components. Read More...
Blogs
News
Nobody teaches you how to be self-employed. It's a path that many of us embark upon, driven by passion, creativity, and the desire for independence.
Yet, being self-employed can present numerous challenges.
In this blog, we'll explore the realities of self-employment and uncover the keys to finding success in business. Read More...
Ah, it's that time of year again, creeping up on us before we know it! But no, we're not talking about the coldest or shortest day of the year. It's tax time!
Let's explore the benefits of enlisting the expertise of an accountant for your tax return. Read More...
Welcome to the exciting world of business growth!
If you have big dreams and a vision to take your business to new heights, you’ll need financial fuel to turn those dreams into reality.
In this blog we look at some financing options to consider for financing your business for growth.
Read More...
In life, there are always competing needs and desires pulling us in different directions.
This is where setting financial goals can be the key to meeting both priorities. Read More...
When starting a business in Australia, one of the most important decisions to make is the type of business structure you will use. The structure you choose will affect your legal and financial obligations, as well as your potential for growth and expansion. In this blog, we look at the different business structures in Australia and what you need to know about each one. Read More...
The first home super saver scheme (FHSS) allows eligible Aussies to invest extra into their super fund and then withdraw that money to help fund a home loan deposit. Let’s go through the elements of the scheme and see if it’s right for you. Read More...
We know that every business owner would much rather spend their time and effort to generate income than working on their financial statements.
As every business is unique, we will tailor-make our services to you and your business. We typically provide the following services. Read More...
At Christmas we all tend to focus on our own finances. But the festive period is the perfect time to help our kids understand how money works, and the value of good money management. Read More...
Ensuring you have enough money to run your business is critical to success. But many business owners rely on guess work instead of conducting systematic forecasting.
It can feel boring, complicated, or time-consuming. But it doesn’t have to be that way.
We have a few key tips to help make budgeting and forecasting easier. Read More...
When you are managing a business, there are a lot of hats to wear and balls to juggle - and often huge pressures.
Therefore a good business advisory service can offer your business many advantages in terms of helping you reach goals, and build up future success. Read More...
Whether you just started your first job or have recently arrived in Australia and are now working, you will need to start thinking out lodging your tax return for each financial year that you work or earn money. Read More...
Being a business owner can be a fantastic experience.
You can create a very rewarding lifestyle, build a business you are proud of, give back to the community, and be your own boss. But – it can also take its toll at times.
Thankfully there are some quick and easy ways to try and tackle some of these concerns. Read More...
We are now in the thick of tax return time here in Australia, which means you’re probably looking to see how much you can claim, and what the size of your tax return might be.
We can help you get the best refund, as well as ensure you are compliant.
Here are some tips you can use to maximise your tax return. Read More...
Starting from July 1st, a number of government requirements that will impact how you manage payroll (including superannuation) for employees. So, what do you need to know to ensure compliance? Let’s take a closer look. Read More...
Successful businesses know how to manage – and keep – good staff. They recognise that good talent is a real asset - so here we are sharing some strategies for retaining your best staff Read More...
While a strengthening economy is a good thing, it is expected that interest rates will start to rise, and that can be an issue for some borrowers.
Here's what you need to know about carrying debt in a rising interest rate environment. Read More...
The past two years might have messed with your finances! Between special support measures and lockdowns or uncertainties, it’s possible you’ve been left with a more complicated than usual set our accounts. So, before the end of this financial year, it’s a good idea to ensure you’re on track. Read More...
Management reports capture and explain vital data that helps a company’s leaders to successfully run the business.
They are of absolute importance for organisational strategy, and every good leader knows it. Read More...
Buying insurance through super has many advantages, but you need to make sure you are getting the right cover for your individual needs. In some cases, you may be paying for nothing. Read More...
Whatever your situation, make 2022 the year you get on top of your personal or business finances.
Here are 11 financial resolutions for 2022 that could help you start your new year right. Read More...
What you need to know about cryptocurrencies as the virtual money industry gains in popularity. Read More...
Australian shares are a popular investment option for self-funded retirees. So how is the share market holding up in our post COVID world? And how can you make the most of your investments through tax? Read More...
With superannuation, it helps to think of your money constantly having a clear aim, depending on the phase you are in. Here are 11 tax facts about superannuation. Read More...
Did you know that our team at Profacc Public Accountants and Financial Planning offer strategic and high-level support managing, assisting, and supporting clients who are secretaries in their companies? So if you are a company secretary, we can help you by offering support with many of your duties. Read More...
When you think "financial planner", what's the first thing that comes to mind? You'd be forgiven if your first thought was that only rich people have financial planners in their contact lists. But here's the thing: there's a good chance they got to that point of wealth because of the help of financial planners. Read More...
While you know your business inside and out, you might not have the time - or be truly confident - when it comes to maximising the financials. This is where accountants shine – we take care of it all, so you don’t have to. Read More...
It’s the end of the financial year, and you know what that means: it's time to lodge your personal tax return! But don't panic.... we're here with some tips and advice. Read More...
The budget is a balancing act that details how the Government intends to continue to support COVID-19 recovery while focusing on the more long-term goal of budget repair. Read on for a quick rundown of the items in the budget that may affect you, for better or for worse. Read More...
The Profacc team has experienced business accountants that understand the complexities of running a business. We also know that no matter whether you're a sole trader, a small business owner with a couple of employees, or the head of a large corporation, it's important to have a business plan with clear business goals.
Read More...Your ability to earn an income is a valuable asset. We tend to insure assets such as our houses, our cars, even our health. But have you considered insuring your ability to earn money? The consequences of being unable to work for an extended period of time can be financially devastating and have far-reaching consequences. Read More...
All businesses must protect their people, their assets, and their clients. There is an element of risk in any business. No matter how small or large, or what industry, every business will need at least one – if not several! – types of insurances. Read More...
Tips to help make 2021 your best year yet! If every year you set big goals but then never actually achieve them, then read on. We are going to share 6 tips that are so simple, but that actually work! T Read More...
If you are running a business, you will be doing yourself (and your accountant!) a favour by having separate business and personal bank accounts. From practical reasons, through to simply being easier, there are many reasons why having separate bank accounts is a good idea. Read More...
You’ve got a business idea. You’re excited. You’ve got a business name – it’s so catchy! And you cannot wait to apply for your ABN…
But – do you set up as a sole trader or a Ltd company? Read More...
When planning for your retirement it is easy to get caught up in numbers and head-spinning calculations.
We want to simplify it for you by covering the most important factors to consider for your superannuation and retirement plans.
Here are the key 6 factors to think about BEFORE you reach retirement age Read More...
If you own or manage a successful business and are looking for growth opportunities, you might be considering scaling the business. The main attraction for scaling a business is the opportunity to increase sales with little extra effort. But there is more to the story than easy sales… Read More...
Did you receive a tax rebate this year? Have you been given a pay rise? Did you receive an inheritance? It’s okay to take your time and think calmly about how to spend the money.
Read More...
Does the word ‘debt’ scare the living daylights out of you?! Or are you considering leveraging debt to help your business grow?
Here are our tips for reducing business debt if it's getting out of hand, as well as a look at when debt can be good! Read More...
Is your business successful? Great! What are you going to do when you are ready to retire, if you fall sick, or simply want to move on? A business succession plan is essentially a decision about who will lead your business into the future, and who will take ownership of it. Read More...
What are the risks? To offer some financial support to Australians during the Coronavirus economic crisis, the government has implemented new temporary stimulus measures – and one of these measures is to allow eligible Australians early access to their superannuation. But it might not be that simple... Read More...
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Testimonials
Satisfied Clients'
Testimonials
"We would like to place on record our sincere appreciation for both you and your team's amazing professional services we’ve had the benefit of receiving over the past 13 years. Relocating and setting up in a new country was never going to be easy, however, your understanding of local financial conditions and your in-depth business acumen made our transition to our new adopted country a very smooth and successful one. We would like to thank you for going above and beyond our expectations with your financial help and advice, the likes of which we had never experienced in our past 45 years of running our own businesses. Your inherent financial skills and your knowledge of the Australian tax laws are unequalled in our opinion. We would like to thank you for the advice that you have given us for the various … issues …, in all cases your advice has always been sound … Your passion for business is inspiring and we feel truly blessed to have you as our Accountant and financial advisor. With thanks and appreciation"
We have been dealing with Profacc Accountants for the last 6 years and can say in all honesty that we couldn’t have asked for a better accounting partner to assist and support us in our business. The variety of services offered by Profacc as well as their excellent customer service provided by professional and knowledgeable staff willing to go the extra mile for their customers, would be hard to beat. Profacc’s culture of honesty and integrity is evident throughout their business practices and as business owners we value that we can sleep at night, knowing that we are compliant with all statutory requirements. A big thank you.
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