I officially started my business 3 years ago. But I only started to feel like I was actually running a business last year, when I hired my first employee in 2018. Since then, my team has grown, and so has my business. Let me explain how I was able to go from self-employed to running a business with multiple departments, and working towards a business that essentially runs itself.
When you're facing a lot of hardships, it's difficult to keep running a business, let alone start one. But hardships are also something you can turn into opportunities. Let me tell you about how I used personal hardships as an opportunity to start successful businesses. I hope my story can motivate you in some way.
Starting a business is hard and to be honest, it's an uphill battle for a very long time. But it can also very rewarding, and there's no other feeling like running your own business! Let me share with you my personal experiences and the reasons why I started my own businesses.
Taxable Payments Annual Reports (TPARs) are a specific report that must be lodged by businesses to the Australian Taxation Office (ATO) detailing payments your business has made to contractors in specific industries. This video explains what this obligation means for businesses and contractors, as well as the methods that businesses can use to make this lodgement by 28 August every year.
There are many reasons why your business could receive a fine from ASIC (Australian Securities and Investments Commission) . But there are also just as many ways to prevent being fined in the first place. Let me explain the types of fines you could receive, and how to make sure your business continues to meet all ASIC obligations
Bucket and holding companies are excellent strategies to help cap the amount of tax you pay and protect your business profits. They can be quite complex, so let me break down the basics of how they work. Make sure to speak to your accountant for advice regarding if they can benefit your business situation.
There are tax scams all year round, but especially during Tax Season. Scams are getting harder and harder to spot. So let me show you all the things you need to look out for, so you don’t get caught up in any tax scams.
In this video, I go into detail about things to consider when deciding on what business structure is most suitable for your situation in choosing between a Pty Ltd Company or a Discretionary Trust
Is your accountant taking too long to respond or not responding at all? You need an accountant that will treat your business as their own, and has your best interest at heart.
You may have been charged failure to lodge on time (FTL) penalties and interest by the Tax Office for not keeping up to date with your lodgements and payments. But don’t worry, because you can actually call the Tax Office and ask for them to remit these penalities.