Businesses with 19 or fewer employees have less than two weeks to transition to SuperStream – the new, mandatory electronic standard for paying superannuation contributions. “The Australian Taxation Office (ATO) is pleased that more than 75 per cent of small businesses are already SuperStream compliant however, there is still a way to go to ensure […]
Are you still paying your employees’ super contributions manually via cheque, EFT or BPAY directly to funds? If so, it’s likely you aren’t compliant with the new, compulsory standard for paying super – SuperStream. As part of SuperStream, you need to pay and report your employees’ superannuation contributions electronically; allowing payments to be tracked and […]
It’s that time of year again: tax time. When the challenge of filing personal taxes is compounded by the need to sift through work-related travel expenses, it’s no wonder many workers would rather visit the dentist. Knowing how to file business travel expenses can be one of the most confusing areas when submitting expenses to the Australian Taxation Office (ATO). […]
Taxes are high in Australia. But when it comes to taxation policies, our government is too lenient on some large businesses and too hard on small business. Some large multi-national companies have been able to utilise tax structures that allow them to avoid paying their required tax in Australia, which has enabled them to lower their […]
The current federal government is more popular amongst SMEs than its predecessor but an increasing number of business owners are dissatisfied with the Coalition’s support, according to the latest MYOB Business Monitor The bi-annual national survey of over 1,000 SME operators revealed that since being elected to power in September 2013, the Coalition government has […]
Small business operators are working weekends and nights to organize the paperwork necessary to meet their EOFY obligations, according to the latest MYOB Business Monitor – a bi-annual national survey of over 1,000 SME owners. “Many operators are making significant personal sacrifices over and above running their day-to-day business, making EOFY not only stressful but […]
Many of Australia’s small businesses might be missing out on potentially valuable tax deductions by not consulting with a financial expert, according to research highlighted by finance and tax software developer Intuit. Conducted with Galaxy Research, the study involved a survey of 400 small business owners in May, this year. The researchers found that, as the countdown to EOFY […]
It’s time: you’ve found the perfect opportunity, written your plan, and forecast your financials for the next year. You’re finally ready to get your ecommerce business up and running. But how? [Editor’s note: This is the first of a seven-part series by Chris Dahl of Pin Payments providing an essential guide to setting up an […]
The end of a financial year is just a date in a calendar. We use this date to draw a line in the sand and say to ourselves – this is how my business has performed. We then report that data to the relevant stakeholders and measure our performance, pay our tax, meet our banking covenants […]
The end of the financial year can be a stressful time for small businesses, especially if your finances aren’t completely in order. Unfortunately, that’s an all-too-common situation. A recent Xero survey found that three-quarters of Australian small businesses still store their receipts in shoeboxes. With the average Australian business churning through 100 receipts and invoices […]
