If you are one of the millions of Australians now working remotely due to the impact of the coronavirus crisis, there is one upside… The ATO has made it simpler for you to claim your work-related expenses. The new arrangement will allow people to claim a rate of 80 cents per hour for all their… Read more »
The beginning of the new financial year can be a transformative time for small-to-medium businesses (SMBs) in terms of reviewing finances and making important business decisions about the year ahead. Technology can help SMBs ensure their tax duties and reporting are accurate and useful – saving time, boosting compliance, budgeting more effectively, to position them… Read more »
After a very well-deserved break to ease themselves into the new year, the politicians shuffle back into Canberra on 5 February – and awaiting them is a list of tax and financial legislation to chew over. Over the past few years, the ATO has been clamping down on tax compliance issues for businesses big and… Read more »
“It’s all good, I’ll claim it back on tax”. How often have you found yourself saying these words without having any clear idea how you’re actually going to claim that long liquid lunch back at tax time? Did you even keep the receipt? As a small business owner, you have many responsibilities, none more so… Read more »
Did you know that Superannuation payments will attract more interest and penalties than unpaid tax liabilities.
With proposed company tax cuts officially in play, no better time than now for small businesses to capitalise on the latest reforms.
With all the responsibilities small business owners have, it’s easy to overlook work deductions that could have a huge impact on reducing your taxes. Research from cloud accounting firm Xero reveals 40 per cent of Australian small business owners are unclear what expenses qualify for tax breaks. It’s not surprising given that eligible deductions can… Read more »
Tax time is the perfect opportunity to reconnect with your customers and realign your goals as a business.
As the end of financial year draws near and whilst there are a wide variety of tax deductions open to all small businesses. Professional services Your business could look to claim the following items: New capital equipment such as computers, laptops, phones or office furniture. This can include the cost of refitting the office kitchen… Read more »
It’s that time of year when small businesses can benefit by considering strategies to minimise tax burden. In this second article of our three-part series for year-end tax tips we look at accelerating deductions and how small businesses can reduce their tax for 2017. With the individual tax rate set to reduce by 2% for those in… Read more »
There is often a misconception out there that if you are a small business owner, lenders will scrutinise you and would be less likely to assess your loan application favourably. The good news is there are several solutions to obtaining a loan, and the loan purpose could include many different purposes. Cash out for working capital… Read more »
It’s that time of year when businesses can benefit by considering strategies to minimise their tax burden. This is the first of a three part series on tax we are doing to help prepare you for tax time. Here, we look at some actions small businesses can consider in order to reduce their tax for… Read more »
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