Welcome to the March 2025 edition of On the Money, where we bring you important updates on personal finance and business operations.
Staying informed is crucial to making sound financial decisions, whether you’re planning for the future, managing cash flow, or considering structural changes in your business.
In this edition, we cover several key topics to help you navigate your financial landscape:
- Spouse Contribution Splitting: Have you considered splitting contributions to super with your spouse? It can be a strategic way to maximise your retirement savings.
- Early Compassionate Release of Super: This option may allow you to access your super earlier in certain circumstances, offering financial relief when you need it most.
- Choosing the Right Business Structure: The structure of your business plays a significant role in tax implications and legal liabilities. It’s important to choose the right structure for your long-term goals.
- Contractor Payments vs. Wages: Understanding whether payments made to contractors are considered wages is crucial for compliance and managing tax obligations.
- Website Upgrade or Makeover: Is your website keeping up with your business needs? A fresh, user-friendly website can make a big difference in attracting and retaining customers.
- Cash is King: Maintaining strong cash flow is essential for the ongoing success of any business.
For personalised advice or further information, don’t hesitate to reach out to the team at JHL Accounting.
For a full comprehensive breakdown of the above points, click here ‘On the Money’ March 2025 – JHL Accounting’
Ready to complete your 2024 year tax return and would like to book an appointment with Caroline, please click here.
If you would like to discuss these matters further please contact JHL Accounting .