Tax, Accounting and Bookkeeping
At Heal.Thy Self Co. in Melbourne’s Yarraville neighbourhood owners Electra Tomasino and Dylan Davies believe that people thrive when they consume a diet based on whole foods straight from the earth. Her store offers plant-based, free range, organic, ethical and sustainable produce and can cater to almost anyone with wide-dietary requirements. “We’re focused on seasonal produce […]
Cloud migration is a growing trend among small to medium sized businesses in Australia. Accounting practices are also embracing cloud technology – The May 2015 Cloud Readiness Survey from Digital First demonstrates that the shift to the cloud is happening. Nearly half of the respondents (43%) see a major shift to cloud software likely to […]
250 businesses in Melbourne’s Dandenong region will be audited by the Fair Work Ombudsman as part of a new campaign to check that employers are paying the correct minimum hourly rates, penalty rates, allowances, loadings and providing appropriate meal breaks. Fair Work Ombudsman Natalie James says the Dandenong region is home to thousands of businesses […]
The Australian Tax Office (ATO) will be targeting up to 90,000 small businesses over the next three months as part of a major compliance operation. The ATO will be obtaining details from 11 financial institutions including American Express, Commonwealth Bank and ANZ for credit card payments received by small business for the 2014-15 financial year. […]
Small businesses are at the heart of our economy, with more than two million operating across the nation and more than half a million Australians involved in startup activity at any point in time. As a business catalyst, I dedicate my time to helping these companies thrive and reach their full potential. Small business owners […]
Three months after the 2015 Budget announced a $20,000 tax break to small businesses, Tim Reed, CEO of MYOB, provider of business management solutions, shares his professional view with Dynamic Business on the effect these budget measures can have on the Australian small business community. Commenting on the $20,000 tax break, Mr Reed said “small […]
There are plenty of reasons to start your own business – being your own boss and master of your own destiny, following a passion and fulfilling a dream and vision are just a few of them. Whatever the dream, the reality of running a business is that it requires a lot of hard-work, sacrifice and […]
25 Factory workers at Nambucca Heads on the NSW North Coast have been underpaid by a total of $45,000 over eight years. An investigation by the Fair Work Ombudsman discovered that the wages system had been set up incorrectly resulting in miscalculations of leave accruals, leave loading and superannuation entitlements between 2007 and 2015. The […]
A survey involving more than 400 practices across Australia shows that accounting firms are embracing cloud technology for themselves and clients. According to The Cloud Readiness Survey from Digital First, 43 per cent of accounting practices are anticipating a shift to cloud software in the next 12 months. The survey revealed that accounting firms understood […]
The ATO is helping Australians to better monitor their tax deductions with the introduction of a new online tool called myDeductions. The tool will allow users to capture work related expenses on the go. Recognising that tracking down one years’ worth of receipts is often be the most time-consuming aspect of lodging a tax return, […]
Part of our role as small business accountants is to act as a barrier or intermediary between the tax office and the small businesses of Australia. It’s not that we don’t trust the two different interests to get along but it’s more about using our experience and knowledge to protect the best interests of the […]
An agreement by national leaders to lower the GST-free threshold to capture online transactions under $1000 is hoped to put domestic retailers on a more equal footing with their international competitors. Online retailers have long suffered from the current exemption as they lose customers to overseas retailers looking for cheaper goods. “Ensuring overseas online transactions […]
After seeing 700 per cent growth in its first year, Airbnb’s Business Travel program has expanded further. Airbnb, the world’s leading community-driven hospitality company has introduced a global tools suite aimed at providing greater visibility on employee travel itineraries and expense tracking. The Business Travel program, which helps companies of all sizes cater to their […]
As your small business expands, you may want to look into new accounting software to keep up with the growing number of invoices, bank transactions and other everyday accounting tasks you are bound to face. But most accounting software in the market includes features you won’t need or ever use.
An individual earns income, pays income tax and then pays expenses with what’s left. A business basically pays for expenses with pre-tax dollars whereas an individual pays expenses with post-tax dollars.
If IT isn’t your area of expertise, Citrix understands that re-thinking the way you operate can be a daunting process. What data should you host, what market offerings are the best, and how can you be sure that your corporate information will be safe in this new environment?
Advances in technology and cloud computing have made working from anywhere possible. Recent tax amendments in the latest federal budget have also incentivised this, allowing businesses to give their staff all the equipment they need to be truly mobile.
As easy as it might be now to juggle a full-time job and work as a freelance writer in your spare time, you may not have considered the tax implications – a mistake that can leave you out of pocket for several thousands of dollars when your tax bill comes in.
Three-quarters of small business employees, and not to mention the majority of freelancers, maintain an office in their home. But a proper workspace at home doesn’t come cheap.
With the end of the financial year behind us now is the time of year to come up with resolutions, especially for small to medium sized enterprises.
