by Sean Yee | Jan 27, 2022 | Self Managed Superannuation Funds, Small Business Handbook
While Self-Managed Super Fund (SMSF) investors have traditionally stuck to investing in the four most popular asset classes (shares, property, trusts, and cash and term deposits), cryptocurrency is slowly but surely starting to make an appearance on that list of asset...
by Sean Yee | Jan 27, 2022 | Payroll and Employment, Small Business Handbook
Single Touch Payroll (STP) is a new and mandatory way of reporting your employees’ income and tax information to the Australian Taxation Office (ATO). It was introduced on 1 July 2018 and replaced the need to manually submit PAYG summaries and other payroll...
by Sean Yee | Jan 24, 2022 | Small Business Handbook, Tax Planning
Running a business is not always easy. One of the most important aspects for businesses, especially those who are just starting out, is to ensure they are compliant with company tax laws in the Australian tax system. There’s no point in working hard to build...
by Sean Yee | Jan 24, 2022 | Small Business Handbook, Tax Planning
It’s not uncommon for business owners to experience losses in their business operations. From a tax perspective, however, this isn’t always a bad thing. The good news is that there are several ways Australian business owners can minimise tax and still keep their...
by Sean Yee | Dec 20, 2021 | Accounting, Small Business Handbook
As a business owner, knowing the difference between the two accounting methods is vital because it can significantly impact your business. You’ll need to decide between two primary methods: accrual accounting or cash accounting. Cash accounting is the oldest form of...
by Sean Yee | Dec 15, 2021 | Small Business Handbook
Company directors play a critical role in the running of a company. They are appointed by shareholders to act as their representatives on an organisation’s board and are typically given power over different aspects of the business and company’s affairs, such as...