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Income Averaging: Who It Applies To and How It Works

Income Averaging: Who It Applies To and How It Works

Income averaging is a tax-saving strategy introduced by the Australian Tax Office (ATO) to promote tax fairness. It is aimed at individuals who experience significant fluctuations in their earnings, and involves spreading out their taxable income over several years to find the average (i.e. the new taxable income in which they are assessed against).

How a Trust structure works in Australia

How a Trust structure works in Australia

In Australia, there are several types of business structures that you can choose from when setting up your business operations, which includes a trust structure. The choice of business structure depends on factors such as the nature of the business, the number of...