By Benfletcher At some point in the life of your business, it will benefit you to move from being a sole trader to a company setup. Ben Fletcher explains what to consider before making the move. In my experience there are three main reasons a sole trader would move to a company structure for their […]
By: Pip Spibey-dodd 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 […]
By: Tax & Super Australia While many may see recently issued ATO advice as re-stating the bleeding obvious, it does of course ring true when it says that lodging returns with incorrect or incomplete information will delay processing. Generally the processing of these incomplete returns will be stopped in order to verify or update details. Helpfully […]
BY: JAMES HARKNESS 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 […]
BY: GUEST AUTHOR 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 […]
BY: JAMES HARKNESS Small businesses can take the pain out of meeting EOFY tax-time requirements by ditching the shoebox overflowing with expense claims and invoices. Dynamic Business spoke to Concur, an expense management solutions provider, to find out more about how small businesses can better manage their invoices and expense claims at tax-time. According to Murray Warner, director […]
BY: JAMES HARKNESS More than 450,000 small businesses have become SuperStream compliant ahead of the 30 June deadline. If your businesses will struggle to adopt the new payment standard in time, don’t worry: the ATO has announced it is extending the deadline by four months. Deputy Commissioner James O’Halloran said small businesses that need extra time to become SuperStream […]
BY: GUEST AUTHOR 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 […]
BY: GUEST AUTHOR After spending years getting yourself up and running, working on sales and the front end, it’s likely that the back end— accounting practices and accounts receivable —have been somewhat forgotten. With more and more companies defaulting on payments, going into administration and getting wound up by the ATO, now more than ever is the […]
written by: Ritchie Cruz, Principal Director Today, the competitive nature of doing business has necessitated organizations to devise ways or reducing their costs and enhancing their services so as to gain a competitive advantage. Besides, the financial pressures of running a business efficiently adding value to the operations has forced organizations to outsource accounting services. […]
