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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...
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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 there are a few...
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Running your own business comes with a lot of perks as well as some difficulties you need to prepare for, among which are corporate tax and how to prepare for that tax return. You can't do it alone, so you'll definitely need to find a good accountant who'll be able to assist and guide you...
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GST reporting is a requirement for every small business owner. Cash and accruals are both applicable in the process of reporting and a small business owner can use either method. Accrual basis can be advantageous for small businesses because the latter might lack cashflow. But that's only one...
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Land tax is a State tax imposed by the Queensland Government on owners of freehold land in Qld. Fortunately, the land tax year runs from July to June, so at least it is in line with the income tax year! You may be liable for the tax on land you own as at midnight on June 30. Exemptions do apply...
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A lot of small business owners ask themselves the same question: "Do I need to register for GST?" In order to spare you the trouble of looking for answers all over the Internet, we present you an article that covers GST registration. Keep reading to find out the legal requirements of GST, what...
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Attached is "Stay Out Of Jail Card" Being an expert in tax, I deal with the ATO assumes and the law says you do or should know the rules. Let me tell you a secret. I don't advise on certain GST matters such as property GST because I don't know enough about the matter. And I am a tax agent! So how...
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