Often, a common question I receive from clients who are starting their own business for the first time is whether or not financial statements are needed and what exactly do they do. For an accountant like myself, this is a very obvious answer (yes, you need them!),...
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...
Top 10 Must Dos you need to consider while contracting So you have chosen to become a contractor in your industry? Great work! Contractors run their own business and so you can make a lot of money becoming a contractor. However, with great reward it does come with a...
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...
