Future Advisory - Accountants in Australia

 Curious about how LeavePlus is calculated? Here’s the percentage rate employers pay, how it works, and what it means for construction businesses. LeavePlus makes long service leave portable for construction workers—but what’s the actual percentage employers have to pay? Let’s unpack the numbers and what they mean for your payroll. Breaking Down the Numbers: What’s the Actual LeavePlus Percentage? If you're running a business in the construction industry in Victoria, LeavePlus (formerly CoINVEST) is something you can’t ignore. It ensures long service leave entitlements for workers who move between employers—but it also means you need to contribute regularly. So, how much does LeavePlus cost? What’s the percentage rate—and how does it impact your business? What Is the LeavePlus Percentage? As of the latest published rate, LeavePlus requires employers to contribute 2.7% of each eligible worker’s gross ordinary wages . This percentage is calculated quarterly and paid directly to L...

Confused about how dividends are taxed in Australia? Here’s what you really pay on dividends, how franking credits work, and how tax rules apply to investors. Dividends can be a great source of passive income, but they also come with tax implications. So, do you actually pay 20% tax on dividends? Let’s break it down. Do You Pay 20% Tax on Dividends? In Australia, there’s no fixed 20% tax rate on dividends. The tax you pay on dividends depends on your marginal income tax rate and whether the dividend is franked or unfranked. So the short answer is: you don’t necessarily pay 20%—you might pay more or less depending on your personal tax situation. What Are Dividends? Dividends are payments made by companies to shareholders as a return on investment. In Australia, these are typically paid out of company profits and can be either fully franked, partially franked, or unfranked. What Is a Franked Dividend? A franked dividend comes with a tax credit called a franking credit, which repre...

 Thinking of starting a business in Melbourne? Here’s when you need an accountant to open a company—and how the right advice can set you up for success. Starting a new company? Exciting stuff! But before you dive into branding, websites, and product launches, there’s one question many business owners ask: Do I actually need an accountant to open a company? Let’s break it down—no jargon, no confusion, just straight talk. What Does “Opening a Company” Actually Mean? So, you're about to launch your dream business. Whether you're setting up a café in Fitzroy, freelancing from your Carlton apartment, or getting an eCommerce brand off the ground, one thing's for sure—getting your business structure and finances sorted from day one is key. And that brings us to a common question: Do you need an accountant to open a company in Australia? Short answer: No, it's not legally required. Better answer: It’s one of the smartest moves you can make. Why You Might Not “Need” an Accou...