Table of Contents   Why is accounting important for tradies? Any business owner must keep track of their finances in order to maintain ongoing financial health and the success of their business. Accounting is no less important for tradies, particularly in an economic climate of rising supply costs and tighter cash flow pressures.  Effective accounting and bookkeeping practices will help you stay organised, track your performance and limit your tax liabilities throughout the year.  This blog will provide a guide to accounting for tradies, including our best tips for accounting ..read more

Table of Contents   Imagine that you’ve been a loyal customer of a lender for many years, getting charged a certain interest rate on your home loan. Then, you find that your lender has been offering new customers much better rates whilst slowly increasing the mortgage rate on your home loan. If it sounds like this might be unfair, you aren’t alone. Similar scenarios unfold daily at banks and lenders across Australia. In the mortgage broking industry, it’s referred to as the loyalty tax. What is a "loyalty tax" in Australia? Loyalty tax is the premium interest rate you pay for being loy ..read more

Table of Contents   Getting approval for a home loan is challenging at the best of times, let alone when interest rates are skyrocketing.  A home loan application is filled with many hurdles you need to jump. One of the biggest mistakes applicants make is failing to understand all the criteria lenders use to assess your credibility as a borrower. These factors will include anything from your credit score, earning capacity, deposit and debt-to-income ratio on the loan.  Luckily, there are simple things that anyone can do to dramatically improve their chances of achieving home l ..read more

Table of Contents   Despite the threat posed by the Royal Commission into banking several years ago, the mortgage broking industry in Australia has emerged stronger than ever. In the June quarter of 2022, mortgage brokers facilitated 68 per cent of all new residential home loans - smashing the previous record in Australia. With more borrowers opting to use a mortgage broker, you might be asking yourself; what’s the big deal? Well, there are a few important reasons for this. In this article, we’ll break down the role of a mortgage broker, why you should use one and what you need to look ..read more

Table of Contents   It comes with the territory; the life of a business owner is a stressful one. Whilst hard work is a quality that’s essential to run a successful business, having a strong stress tolerance is equally important.  There are many pressures that business owners face, ranging from financial uncertainty to looking after a team of employees. Your ability to withstand these pressures and continue making the best decisions for your business will be pivotal to your long-term success. To effectively manage your stress levels as a business owner, it’s necessary to identify t ..read more

Table of Contents   You don’t need to remind first home buyers; buying property in Australia requires an enormous amount of earning and saving.  However, on top of the sale price, many buyers don’t factor in all the additional costs that come with the purchase. The most significant of these costs is usually stamp duty, potentially cutting tens of thousands away from your property budget. To help get you better prepared for your next property purchase, here’s a comprehensive guide to stamp duty in Victoria. What is stamp duty? Stamp duty, or land transfer duty, is a mandatory tax t ..read more

Table of Contents   When starting a small business, choosing your business structure is one of the most important decisions you’ll need to make.  In Australia, the most common types of business structures are sole traders, partnerships, companies, and trusts. Unfortunately, the intricacies of each structure can be complex, making it hard for new business owners to make the right choice. This article will break down the advantages and disadvantages of each structure, helping you understand the differences when making an informed decision for your business. What is a business struct ..read more

Table of Contents   Following on from our first list of five affordable suburbs in Melbourne, there are still investment opportunities out there for buyers of all budgets. Whilst many buyers will be priced out of Melbourne’s inner suburbs, the outer suburbs still have plenty of cheap property options available.  Here’s another list of five affordable suburbs in Melbourne where you can still buy a three-bedroom house for under $600,000. 1. Dallas Melbourne’s northern suburbs continue to present value to investors, especially when you consider their distance to the city.  Dalla ..read more

Table of Contents   Hiring your first employee is a scary experience as a small business owner. The people bring on board early on in your journey will play a big role in shaping the future and direction of your business. To make sure you nail the hiring process and leave a good impression on your first employee, follow our simple eight-step guide. 1. Understand whether you are hiring for the right reasons Before beginning the hiring process, you first need to figure out the reason why you’re thinking about hiring.  There are many reasons why business owners might come to this dec ..read more

Table of Contents   Hiring your first employee is a scary experience as a small business owner. The people bring on board early on in your journey will play a big role in shaping the future and direction of your business. To make sure you nail the hiring process and leave a good impression on your first employee, follow our simple eight-step guide. 1. Understand whether you are hiring for the right reasons Before beginning the hiring process, you first need to figure out the reason why you’re thinking about hiring.  There are many reasons why business owners might come to this dec ..read more