According to national SME finance specialist, Scottish Pacific, many small businesses may be using the Australian Tax Office (ATO) as a line of credit being unaware of alternative funding solutions. Scottish Pacific CEO, Peter Langham said the ATO was owed $35.3 billion in 2013-14 according to a recent report by the Inspector-General of Taxation. “It […]
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 […]
No matter the size of your business, if you’re offering credit to your customers it’s highly likely at some point you will do work for a customer who will blatantly refuse to pay.
If you think that bookkeeping and accounting fees are high, consider this horror story, which could be the one tale that gets business owners thinking about their own business.
Compliance demands are everywhere, we can’t escape them, and they only seem to be getting worse.
It’s a fair bet that paperwork is nobody’s favourite part of running a business, but it’s an essential aspect of it nonetheless.
With the final quarter looming, to make tax time less painful, here’s a helpful list of the kinds of information that are useful for small businesses when preparing a tax return.
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