Accounting Business Management Tax

Taxing Times: How to Take the Pain Out of Making a Tax Claim on Work-related Travel

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 […]

August 24, 2016
Business Management

Five Tips to Help Small Businesses Eliminate Late Payments

By: Luke Hally Yesterday Kate Carnell, the Small Business and Family Enterprise Ombudsman, took on the fight against late payments for small business. “Currently, there’s billions of dollars owing to small businesses as a result of outstanding invoices. This money needs to be freed-up so mum-and-dad operators can get on with the job of simply running […]

August 13, 2016
Accounting Tax Tax Return

Avoiding Common Tax Return Errors: Tips from the ATO

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 […]

July 19, 2016
Accounting Business Management Tax

SME Owners Losing Personal Time to EOFY Prep

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 […]

June 30, 2016
Accounting Business Management Tax

Missed Opportunities for SMBs that Go It Alone at Tax Time

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 […]

June 29, 2016
Accounting Business Management Tax

Ad-hoc Expense Management Systems a Burden for Financial Controllers and Sales Staff

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 […]

June 28, 2016
Accounting Business Management Tax

SuperStream Extension for Small Businesses

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 […]

June 27, 2016
Business Management Tax

Getting Your Finances in Order for EOFY

BY: GUEST AUTHOR 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 […]

June 21, 2016
Accounting Tax

Put Accounts Receivable Systems in Place

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 […]

June 17, 2016