Tax Trending Articles

7 Ways to Maximise Your Tax Return
Tax

7 Ways to Maximise Your Tax Return

It is that time of the year again. No, not the massive stocktake sale that’s going on (even though it is pretty awesome, but the end of financial year. This means tax time is coming. I know when we hear the word ‘tax’ we tend to relate it to something boring, extensive and complicated. This is because we only focus on the part of tax where money is taken away from us. However, during this period, it is our time to claim our money back from the ATO. This should be celebrated! But ATO doesn’t...

4.07K views

The Top 10 FAQs About Filing a Company Tax Return for the First Time
Tax

The Top 10 FAQs About Filing a Company Tax Return for the First Time

In every business, it's important to have a user-friendly accountant who can handle all the numbers including taxes.  What if my company is generating a loss and I don't have enough money to pay the tax? And how should I keep my records? Here are 10 frequently asked questions and detailed answers...

3.71K views

Tax Tips for Sole Traders in Australia
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Tax Tips for Sole Traders in Australia

What exactly does a sole trader have to do to ensure they're tax compliant? From GST, PAYG, calculating income tax and record keeping, it can seem overwhelming trying to figure how how to do your taxes properly. In this guide, we go back to basics and break down the key tax requirements for sole...

3.73K views

The Pros & Cons of Hiring a Tax Agent vs. Doing Your Own Taxes
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The Pros & Cons of Hiring a Tax Agent vs. Doing Your Own Taxes

1.55K views

Tax

The 7 Most Overlooked Tax Deductions for Small Businesses

Tax time is fast approaching. Do you know what that means? It means that there are quite a few tax deduction tips you should know about if you want to make the most out of your tax return. As a business owner, you can claim tax deductions for a lot of things you probably didn't know...

5.74K views

Tax

An Easy Guide to Tax Deductions for Sole Traders

Determine whether or not you are a sole trader. Find out what expenses you can claim towards your business. Learn how to keep track of your records to maximise your tax deductions. With the advantage of the technology we have today, many entrepreneurs and business savvy individuals are...

691 views

8 tips to help aussie small businesses prepare for tax time
Tax

8 tips to help aussie small businesses prepare for tax time

Most SMBs have the discipline of quarterly business activity statement compliance. But many businesses still face the significant task of annual reporting. Whatever the reporting regime, the end of the financial year signals a vast array of deduction opportunities as well as potential threats to cash flow. It all starts with making an early appointment with an accountant, giving you time to review your business results before the rush of 30 June. Along with this, here are eight tips to keep...

1.64K views

3 Common Tax Issues for Small Businesses
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3 Common Tax Issues for Small Businesses

Over the past two months while talking with clients, there have been a number of tax-related issues that have come to the surface. These are relatively common issues that people get wrong, so we have broken them down below so you don't get caught out.  Common Tax Issues Small...

3.96K views

What the heck is an ato directors penalty notice – help!!
Tax

What the heck is an ato directors penalty notice – help!!

When a director gets one of these it can be really scary. So what are they and how can you avoid getting one? As a company director, or a director of a corporate trustee,  you normally have limited liability and debts of a company cannot be allocated to a director unless they have given personal...

1.93K views

Tax

How to Protect Your Business From the Tax Man

It’s that time of year again... whether it’s out in the real world or online in cyberspace, everywhere you look businesses are slashing prices to get those last minute sales through before the 30th June deadline. So what do your accounts look like? Are you on the Xero bandwagon reconciling your...

1.18K views

GST Basics for Small Businesses: What You Need to Know
Tax

GST Basics for Small Businesses: What You Need to Know

Registering for GST (Goods and Services Tax) in Australia, means that your business is obliged to include the tax amount in the price you're going to charge consumers.  While registering for GST sounds easy, your business needs to have a turnover of $75,000 to be eligible. But...

5.37K views

Small Businesses Missing Out On $2.4 Billion This Financial Year
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Small Businesses Missing Out On $2.4 Billion This Financial Year

1.01K views

Tax

How to Get the Most from Instant Asset Write-Offs in 2024

Learn what an instant asset write-off is. Discover which instant write-off threshold your business falls into What is an Instant asset write-off? One of the most effective tax strategies you can implement when running a small business is the instant asset write-off.  But, what...

507 views

Tax

Your Complete Guide on How to Register for GST

In spite of your business profile, you may have to register for GST and pay it to the Australian Taxation Office. But in order to register for GST, you first need to know all the requirements, methods and regulations of the procedure. Here is your ultimate business guide to GST registration that...

5.39K views

Top 8 Tax Deductions for Sole Traders in Australia
Tax

Top 8 Tax Deductions for Sole Traders in Australia

Everyone loves that time of the year - the end of the financial year. But before you and your accountant start panicking and stressing over it, there are a couple of tips you should know about small business tax deductions. As a sole trader, you are entitled to claim certain tax deductions you probably didn't even know about. Among those are particular startup expenses, home office expenses, and so on and so forth.​ Read on to learn 8 sole trader tax tips to make tax season a...

17.9K views

A Guide to Preparing Your Business Activity Statement
Tax

A Guide to Preparing Your Business Activity Statement

Australian Taxation Office (ATO) shows that small companies accounted for 22% of total tax revenue from all companies in 2017-18. Discover what a BAS is and whether or not you need to file one. Determine the frequency in which you need to file a BAS and key dates for lodging. Learn 3 tips...

4.51K views

Why Small Business Owners Need To Understand Tax
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Why Small Business Owners Need To Understand Tax

The tax system is complex and constantly changing. A good tax advisor is essential to every small business. However small business owners also need to have a good understanding of the basic tax rules and obligations. 1. Choosing the right structure When starting a business, choosing the right...

1.75K views

3 Ways to Get a Tax Deduction (and Benefit in Other Ways)
Tax

3 Ways to Get a Tax Deduction (and Benefit in Other Ways)

612 views

Tax

5 Ways Child Care Providers Can Legally Lower Tax

Everyone wants to minimise their taxes, especially business owners everywhere in the world and child care providers aren't an exception. Considering that tax evasion is illegal, there are still some ways you can minimise tax bills in a legal manner. If you want to find out how to minimise your...

1.64K views

Tax

Small Business Checklist | End of Financial Year 2024

Learn what you need to focus on this tax season. Discover eight proven steps to get the most from your taxes from our Top Influencers in Tax and the ATO. Feel confident and prepared when filing your end of year taxes. Time flies once you establish a routine, especially when running your...

695 views

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