The role of a tax accountant has been continuously changing over the course of the last 50 years, and it is currently undergoing yet another transition period with the growing popularity of cloud accounting.
I recently overlooked a GST bill.
The taxman is not okay with that. He wants his money. And fair enough; I want free healthcare and the other benefits of being a taxpayer.
Close to one million businesses in Australia are home-based – a significant portion of the nation’s business community.
Running a home-based business offers a number of advantages including flexibility, convenience, freedom and cost savings. And when it comes to tax time, operating a business at or from your home means you may be eligible for a number of tax deductions.
We’ve recently added an ABN search feature to the new business.gov.au. This feature is similar to the ABN search feature you may have used on our site previously.
Your business website costs may be claimed as a tax deduction...
It's tax time again. Follow our top tax tips to make tax time a breeze.
During the 2015 federal budget, the Australian Government labelled small businesses as the ‘engine room of the Australian economy’ – driving growth and creating jobs.
A year on, the federal government solidified that moniker. They handed further tax cuts to small business owners and increased the revenue threshold to include a further 60,000 businesses not previously eligible for lower taxes and asset deductions.
As an employer, it's important you understand the difference between employees and contractors. You're responsible for getting it right!
Welcome to 2016!
To help your business start 2016 off on the right foot, we’ve put together a list of changes for business that came into effect from 1 January 2016.
GST could be taking a ride up in that great glass elevator leading to a tax hike. A 15 per cent GST increase is on the table for Australia. While the Government has remained coy calling the possible GST rise ‘speculative’ this is none the less, this option has certainly not been dismissed.
You need to cancel your ABN after you’ve sold or closed your business.
Did you know that Free Trade Agreements (FTA) can be used by businesses large and small?
As FTAs come into force, you may find new opportunities to expand your business overseas. Or, you may find that overseas investors are interested in partnering in your business operations.
Make sure you understand how FTAs work and what help is available to you!
If you want to reduce greenhouse gas emissions in your business and help the environment, going carbon neutral in your business is a great way to do your part.
Professional practices are to be placed under greater ATO scrutiny. ATO guidelines for its professional practices risk classification matrix have been updated and expanded. Such updates focus specifically on how much of the profits arising from professional practices the ATO expects to end up in the tax returns of individuals who own or control the equity owners.
The ATO app puts tax and super help in your hand, making it easier for you to conduct your tax and super affairs on the go.
If you pay for a website for your business, here are some things to remember about claiming the costs…
Starting a business is a big decision, and needs careful research and planning well before you start trading.
Your website or LinkedIn profile will often be the first thing about your company that a prospective client sees, and as we all know, you only get one chance to make a good first impression.