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 31, 2019 | Small Business Handbook, BAS, Tax Returns & Financial Statements
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 self-evident answer (yes, you need them!),...
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 | Dec 4, 2018 | Accounting & Tax, All, BAS, Tax Returns & Financial Statements, Bookkeeping, Contractor Handbook, Contracts, Guides, Startup, Startup
So you’ve decided that you’re going to be working as a contractor in your industry. Great work! Contractors run their own business and the potential to generate a large income is an attractive option. However, with great reward, comes to a lot more...
