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Why a will is a must

A will is a must in 2021. It’s never a comfortable conversation to have, however up to 45% of Australians pass away without a will in place. 

“If you do not have a will, your estate will be distributed according to a formula set out by the law.”

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Do you know about your insurance coverage?

Do you know aboutyour insurance coverage? Thanks to the year that was, small businesses have encountered many challenges, making it important to know what your insurance covers in 2021.

“Research by online lender OnDeck Australia shows 86% of small businesses have been impacted by Covid-19, with one in two severely affected. Many owners may assume they’re covered by insurance. The reality, though, could be different.”

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Do you know about your insurance coverage ? | Aspect Accountants Perth

Getting the margin scheme right

Editor: The margin scheme may allow a property owner to pay less GST when they sell the property — paying GST of 1/11th of their margin on the sale, rather than 1/11th of the total sale price.

If a property owner wants to use the margin scheme when selling property, they must be eligible before the property is offered for sale.

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