by Davie Mach | Jan 3, 2020 | Small Business Handbook, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Contractor Handbook
So you or your accountant has been notified that an ATO review and/or an ATO audit will take place on your tax return. What do you do? Facing an ATO audit is unwelcome scrutiny that no taxpayers would like to be subjected to. Not only that, they can wind up costing...
by Davie Mach | Jul 21, 2019 | Small Business Handbook, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Contractor Handbook
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. ...
by Davie Mach | May 23, 2019 | Contractor Handbook, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Small Business Handbook, Tax Planning, Tax Planning
Many people hear about tax deductions but don’t precisely understand how tax deductions work in Australia. So the obvious question is, how do tax deductions work? In a nutshell, tax deductions can assist with increasing your tax refund. As a business owner, you...
by Davie Mach | Mar 22, 2019 | 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
One of the most common questions concerning tax minimisation I get asked from small business owners and contractors: whether I think they are paying too much tax when they report their quarterly business activity statements (BAS) to the ATO. There are generally three...
by Davie Mach | Nov 29, 2018 | Contractor Handbook, Accounting & Tax, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Cashflow & Budgeting, Small Business Handbook, Tax Planning, Tax Planning, Tax Tips
Organising ATO payment arrangements can help with dealing with tax debts that can be stressful, especially with those unpaid monthly and quarterly amounts incrementally building very quickly. Many small and medium-sized business owners in Australia have a lot...
by Davie Mach | Oct 29, 2018 | Accounting & Tax, All, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Contractor Handbook, Startup, Startup
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...
