Failure to lodge penalties are enforced by the ATO when businesses are not meeting their reporting obligations. If you have received such a penalty, don’t despair just yet. In this article, we explain exactly how you can have this remitted. How Much is...
Many people hear about tax deductions but don’t exactly understand how tax deductions work in Australia. In a nutshell, tax deductions can assist with increasing your tax refund. As a business owner, you can claim tax deductions for the majority of expenses you...
One of the most common questions in relation to tax minimisation is that I get asked from small business owners and contractors are whether I think they are paying too much tax when they report their quarterly business activity statements (BAS) to the ATO. There are...
Dealing with tax debts can be stressful, especially with those unpaid monthly and quarterly amounts incrementally building very quickly. In fact, many small and medium-sized business owners in Australia have a lot of tax to pay to the tax office and can’t afford...
The Tax Guide for Contractors, Consultants, Freelancers and Locums As a consultant, contractor, freelancer and locum there is a range of taxation obligations you are required to deal with. It is important to speak to your accountant or the Australian Taxation Office...
Should you buy a Company Car Buying a car under the company normally allows for a healthy GST refund and tax savings. However, there is a common misconception that buying a company car will result to huge savings in tax. The rule is you are entitled to claim a...
