Accounting

A new initiative launched today by the Australian Retail Credit Association (ARCA) aims to demystify consumer credit history.

Australia-wide, the ATO is now on the hunt for $17.7bn in unrecovered debt – and some 60 per cent ($10.6 billion) is owed by small businesses.

From 1 July 2014, businesses with 20 or more employees will be able to use the new Superannuation Data & Payment Standard when making super contributions.

The common question we’re asked by many clients is, “how much of client Christmas entertainment can I claim as an income tax deduction?”

Time is running out for small businesses to take advantage of the current small asset write off threshold before changes come into effect from 1 January 2014.

Now that the gruelling 2013 election campaign is behind us, our attention can turn to the issues of growing debt to gross domestic product and the dwindling tax revenue in Australia.

Does cash flow keep you awake at night? Like all too many Aussie business owners, cash flow is an ongoing headache. But it needn’t be.

The deadline of October 31 for people preparing their own tax return is fast approaching. Coinciding with the deadline is a sharp spike in tax-related email scams, the ATO has warned.

Businesses enter into loan agreements on a regular basis, but it’s crucial that that you review any loan agreement you sign off on.

The Australian Chamber of Commerce and Industry (ACCI) has been waging the ‘Small Business Too Big to Ignore’ campaign since April in a bid to ensure the sector isn’t forgotten in the 2013 federal election.

Treasurer Chris Bowen has announced that the government plans to cut $1.8bn worth of fringe benefits tax car concessions.

Each year the Australian Taxation office targets key sectors of Australian business for audit campaigns – in its Compliance in Focus 2013 notice, small businesses are among those to have drawn the short straw.

Thinking about the ATO doesn’t usually conjure much excitement, but heck there’s a first time for everything. To coincide with tax return season, a raft of changes have been introduced.

Today marks the very first day of the new financial year, and a mid-year opportunity to start afresh – here’s 5 easy things to keep in mind.

The 2013 financial year is coming to a close and the joys of tax season kick off. While you’re busy gathering documentation and filing your return, it’s pedal to the metal for scammers, phishers and criminals – keep your bases covered.

Think you’ve got your annual tax return down to a fine art? Dynamic Business lifts the lid on the risks facing your business this financial year.

Silicon Valley alumnus, Tim Reed, spent 10 years in the U.S. working in a variety of online and B2B software companies before he decided to head back home to Australia and join the MYOB team.

The Tax Institute has called for the Government to refocus its efforts on easing the tax compliance burden on small businesses.

Depreciation has been made simpler for small business in the 2012-13 income year. There are three primary changes and they may impact your timing of asset purchases.

Need a quick breakdown on how the Federal Government’s mid-year economic outlook will affect your business? Read on.