Part of your business obligations is to ensure that you are meeting all lodgement and reporting deadlines as required by the Australian Tax Office (ATO). In cases where you have failed to do so, the ATO does not look upon this very favourably and if they see fit, will...
Tax deductions can assist with increasing your tax refund. As a business owner, you can claim deductions for the majority of expenses you incur in running your business, as long as they are directly correlated to earning your taxable income. But, how exactly do they...
One of the most common questions that I get asked from small business owners and contractors is whether or not I think they are paying too much tax when they report their quarterly business activity statements (BAS) to the ATO. There are generally three primary areas...
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...
