Tax, Accounting and Bookkeeping

New research reveals the average SME spends over two full working weeks (84.1 hours) every year in gathering tax on behalf of the Australian Government.

The City of Sydney will be offering ten free business seminars from March to November, set to provide Sydneysiders with advice on starting a small business, launching a start-up, online marketing, and more.

Tax cuts, higher household incomes and a boost to Australia’s economy will all be the result of a reform to the GST, according to a new report released by CPA Australia.

Are small businesses guilty of paying other small businesses late? Are the people whinging also the source of the problem? Could it be that we are hypocrites?

A good invoice is your first step to making sure you get paid. Issuing an invoice should be the first thing you do after you have supplied your goods or service. Here’s what your invoice should contain…

Tax agents still in demand despite tech advancements

The Abbott government has bypassed upper-house approval to reintroduce the twice yearly indexation of fuel excise — a measure frozen by the Howard government — in a move that will increase input costs for many small business owners.

The Australian Taxation Office (ATO) is today reminding employers of the new super guarantee rate, ahead of the first quarterly superannuation payment.

The Australian Taxation Office is reminding employers to begin embracing SuperStream, the Government’s new method of transacting linked data and payments for superannuation.

The government retrospectively axed several tax concessions for small business when it repealed the mining tax. And the question that many small business owners may ask is, does this apply to me?

The start-up community is set to benefit next year from changes to employee share schemes and progress on the setting of clear crowd source funding rules. The start-up and venture capital sectors have loudly complained about tough conditions for aspiring tech entrepreneurs, warning they are forcing many to relocate overseas and damaging Australian competitiveness. The […]

Some entrepreneurs have a knack for innovative business ideas, but lack the key management skills needed to get their idea off the ground and turn it into a viable reality. The truth is that entrepreneurs will be forced to learn this skill or, alternatively, they will need to employ someone to do it. The day-to-day […]

Don’t be fooled if a government agency or energy company calls up and offers a refund because of the carbon tax repeal. It’s very likely to be a scam.

The Australian Taxation Office will audit more small businesses after new figures suggest the shadow economy is preventing about $25bn each year from being spent on the nation’s schools, hospitals and vital infrastructure.  The figures, cited in News Corp Australia papers, point to a growing problem with business owners not declaring cash payments – a […]

ASIC has launched a new program to boost the financial literacy of business owners and the broader Australian public.

A change in accounting standards means not-for-profit bodies like schools, churches and charities may unwittingly be in breach of the Corporations Act.  The new standard takes effect from the end of the year. It requires not-for-profit entities that control funds in subsidiary bodies to produce a consolidated financial report. In its financial reporting, this means […]

The competition watchdog has put business on notice, warning it will take enforcement action if cost savings linked to the government’s carbon tax repeal are not passed on.

Kick off the new financial year by discovering who your profitable customers are and gently shed the loss makers. Chris Ridd, managing director of small business accounting software provider Xero, explains how.

Most Australian SMEs are not prepared for the switch to chip and PIN based card payments according to new research commissioned by PayPal Australia.

Employer groups have pushed the Fair Work Commission to modify the award system allowing more employees to cash out their annual leave by agreement.