by Kan Huang | Feb 19, 2021 | BAS, Tax Returns & Financial Statements, Small Business Handbook, Tax Planning
As an investor, there are several property taxes that you need to be aware of, one of them being a land tax. While there may be some exemptions, paying land tax is an inevitable part of owning a property. It can often be overwhelming trying to navigate land tax and...
by Davie Mach | Feb 18, 2021 | BAS, Tax Returns & Financial Statements, Small Business Handbook
Are you feeling uncertain when it comes to paying directors’ fees and being compliant with the ATO? You’re not alone. It’s a question we get asked often – should we be paying directors, and if so, how should director fees be paid? Claiming a deduction lowers...
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...
