by Davie Mach | Jul 17, 2024 | Employers, Accounting & Tax, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Contractor Handbook, Guides, Small Business Handbook, Small Businesses, Tax Planning, Tax Planning, Tax Tips
As a business owner or manager in Australia, one of the most crucial responsibilities you’ll encounter is managing your Business Activity Statement (BAS). Having an Australian business number (ABN) is essential for registering for GST and receiving a BAS automatically...
by Davie Mach | Jul 16, 2024 | Contractor Handbook
Do you know that most Australians pay a 2% Medicare Levy on their taxable income? This is essentially how our country funds the public health system.Thanks to this levy, essential medical services are available to everyone. It’s a vital part of our tax system and...
by Davie Mach | Jul 15, 2024 | Small Business Handbook, Business Structure
The different types of trusts in Australia are widely used as a preferred business structure when it comes to investments, managing the financial affairs for families and business purposes. But did you know there are a handful of different types of trusts in...
by Davie Mach | Jul 12, 2024 | Contractor Handbook, Tax Planning
Did you know that teachers and those working in education are entitled to various industry-specific teacher tax deductions?These teacher tax deductions can significantly benefit your annual tax return, so it’s worth equipping yourself with the knowledge presented by...
by Davie Mach | Jun 21, 2024 | Accounting, BAS, Tax Returns & Financial Statements, Bookkeeping, Contractor Handbook
The ATO conducts an audit to verify compliance with your tax obligations and determine if you owe any taxes. The ATO has the power to audit any taxpayer, and they undertake most audits using information matching. The ATO will compare the information you provide with...
by Davie Mach | May 13, 2024 | Business Structure, Small Business Handbook
When starting a business in Australia, you will need to choose an appropriate business structure. This decision will affect how your business is taxed, your liability level, and the legal obligations you need to meet for compliance purposes. The most common business...
