#Small Business Tax
A majority of Australian SMOs are unaware of changes to instant asset write-off: Officeworks report
A new study by Officeworks revealed that almost half of the Australian small business owners (49%) are unaware of the increase in the threshold for instant asset write-off.
Running a home office? Here’s the tax advice you need to know
Written by Ashley Debenham, Etax.com.au Working from home can be a rewarding experience for anyone who wants to be their own boss, but with it comes a greater responsibility at tax time. It is crucial to be organised and aware of what tax deductions you are eligible to claim when lodging your return. Although this […]
The financial challenges small Aussie businesses are facing
Small business is the engine room of the Australian economy and with the numbers of small businesses growing rapidly, allied to the explosion in the ‘gig’ or ‘sharing’ economy, there are thousands of Aussies confronting the challenge of getting a business off the ground for the first time. So, if you’re a budding entrepreneur, what […]
Loan and tax tips for the fresh financial year
By: Olly Guilleaume EOFY has come and gone. How’s your cash flow looking? The rush and pressure felt by many businesses at the end of the financial year have come and gone. Now that the smoke from EOFY has cleared, you can take a considered approach to setting business objectives and planning expenditures for the year ahead. […]
Changes to Scott Morrison’s cabinet
Prime Minister Scott’s Morrison’s new cabinet and broader ministry was sworn in on Wednesday at Government House in Canberra. Here are the key changes in the Morrison government: – Bridget McKenzie is Australia’s first female Agriculture Minister – Sussan Ley moves back into cabinet as environment minister, replacing Melissa Price – Ken Wyatt moves into cabinet […]
Morrison to prioritise planned tax cuts
Scott Morrison plans to prioritise his promised tax cuts after he settles his new ministry line up, as the nation waits to see if the coalition gets a majority in the lower house. As counting continues on Monday the Liberal and Nationals were on 75 seats – two seats short of the 77 it needs […]
An overview of Liberal and Labor small business tax promises
AU Election 2022 News and Updates: Labor, Coalition, or Greens? The policies SME owners need to know Liberals pledge 400k new SMEs by 2027 if re-elected Albanese promises employment summit to discuss wages, productivity RSM Australia has identified the six key election policies affecting small businesses. As the nation gears up for the federal election […]
Self managed superannuation – is it for you?
Most people know something about self managed super funds (SMSFs), the do-it-yourself version of compulsory superannuation. But for many people, the many benefits of SMSFs – as well as the potential costs – are unknown.
A 2-step method for claiming car expenses
Claiming car expenses can be minefield for some business owners, as deduction methods vary depending on your work situation. This simple two-part method will help you decode whether you can claim vehicle expenses, and which methods will help you achieve the best deduction.
How to get on top of your tax-time obligations
A third of small business owners are still keeping their receipts in a shoebox, according to a new survey. If this sounds familiar, these time-saving tips will help you get ahead in the next financial year.
10 tips to get you tax-time ready
EOFY is just a matter of days away, so what should you rush through before 30 June and what’s best left until the next financial year? Here’s a look.
EOFY: Five cashflow improving tax-time strategies
With the end of financial year and the introduction of the carbon tax fast approaching, businesses should be looking to maximise tax returns and improve cashflow. These five tips will ensure you make the right decisions during this all-important period.
The 110 things that need doing before tax year-end
With only a week and a half to go, time’s running out to get your year-end actions in order. If you’re unsure whether you’ve missed any EOFY opportunities, here are 110 ideas to help you ensure you’ve got all bases covered.
EOFY: How to prepare for upcoming contractor payment changes
If you employ the services of any building and construction contractors, from 1 July the ATO will be adding some new reporting requirements. Here’s what the new obligation will mean for your business.
10 tips for a headache-free EOFY
As the EOFY fast-approaches, business owners are being urged to get their financial paperwork signed, sealed and delivered well before tax-time and reap the rewards over the long-term. Here are 10 tips to get you ready for 30 June.
EOFY: Superannuation contribution changes are on their way
Thanks to changes outlined in the 2012/13 budget, business owners need to be aware of a number of superannuation contribution changes due to come into effect on July 1. Use this expert advice to ensure you don’t break the law.
Five steps to a successful new financial year
It’s just six weeks to June 30, meaning it’s time to make sure you’ve dusted off your business plan and are thinking about how you can shine in FY2013. Here’s how you can prepare for the coming financial year in five steps.
EOFY black spots found in SMBs tax knowledge
Last financial year, the ATO evaluated 1.4 million SMBs against its risk detection systems, which led to 16,000 being investigated. Here’s how to plug your EOFY knowledge black spots and escape the attention of the tax office.
EOFY is coming – are you up to speed?
Did you know that this upcoming EOFY is one of the most compliance-heavy years we’ve seen in some time. Daunting, huh? Here’s a look at what you need to be aware of.
Personal Service Income 101: What SMBs need to know
The issue of Personal Service Income (PSI) will continue to be a major focus of ATO compliance activities in 2012. Here’s what you need to know.
Small business tax time: what paperwork do you need?
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.