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...
Like all major business decisions, deciding on a suitable business structure requires a full understanding of the advantages and disadvantages of your options. Two types of options for setting up your business are through a discretionary trust or a separate limited...
Is your accountant not responding or taking far too long to get back to you? We often have clients sign up for our services as a result of having a negative experience with their previous accountant. For example, we recently picked up a new client in the Formwork...
Single Touch Payroll (STP) is a new method of reporting tax and superannuation information to the ATO. Your payroll or accounting software can potentially offer STP reporting and will result in you sending your employees’ tax and super information to the ATO each time...
It’s never too early to de-risk your business. No matter the size of your business, it’s important to identify where the potential pitfalls exist within your business that can put not only your profits at jeopardy, but your entire business’...
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...
