Tax

The Abbott government has suffered a humiliating defeat in the Senate at the hands of the Palmer United Party which sided with Labor and the Greens to block the repeal of the carbon tax.

Woolworths’ use of a “voluntary levy” to help fund its marketing campaign featuring celebrity chef Jamie Oliver has been labeled as “very unusual” by a leading competition lawyer.

Tax compliance is costing Australia’s 1.7 million small and medium sized businesses about $18.4bn a year, according to new research. The figures produced by the Institute of Chartered Accountants Australia show the average gross tax compliance cost for small to medium sized Australian businesses is running at $11,000 per firm each year. The Institute’s Head […]

With one month to go until the end of financial year, around one third of SMEs are making inroads into their financial reporting obligations – the majority will leave it to the last minute.

Small business has emerged as a relative winner from Joe Hockey’s tough first budget containing long-term structural reforms including painful savings in the areas health, welfare and education.

Tax specialists have acknowledged that reintroducing the indexation of fuel excise will hurt smaller business owners who will find it harder to pass on costs to consumers and compete with their larger competitors.      The move, likely to be revealed in tomorrow’s budget, is thought to see the 38 cents a litre excise to be […]

Advocates for Australian-made products have slammed the nation’s treasurers for political cowardice after they deferred a decision on reducing the $1,000 GST low value exemption for overseas online purchases.

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

On day three of the official federal election campaign, Opposition Leader Tony Abbott will today announce a plan to cut the company tax rate by 1.5 per cent.

The Rudd government has today announced that it will make no major changes to superannuation tax policy for a period of five-years – if they’re re-elected to government.

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.

Own or operate a building or construction business that pays contractors? Under new taxation legislation you’re required to submit a Taxable Payments Annual Report to the ATO in late July.

Small businesses are the lifeblood of our economy, employing almost half of our nation’s total workforce. They deserve assistance in the battle to compete with large competitors and ecommerce stores.

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

When a company struggles, there are plenty of creditors knocking at the door. However new ATO legislation extends the personal liability of directors for unpaid super and PAYG for their staff, making them a priority in who gets paid first.

The carbon tax will be introduced in July this year, bringing higher running costs to businesses. Here’s three easy ways you can future proof your business’ bottom line against the looming tax.

March is upon us again, and this means just one thing – tax season is near! Here’s what you should be doing now to prepare your business for the end of the financial year.

Every small business owner needs a good advisor and many need help to stay on top of record keeping, which is where a good accountant can lend a hand.

Now’s the time for SMBs to reflect on the year gone and plan for the one ahead, and accounting expert John Corias suggests owners focus on five key areas when making plans for the next 12 months.

The cost of getting the classification of contractors wrong is high and anyone with contractors on their books needs to make sure that they’ve been correctly classified for tax, superannuation and fair work purposes.