Tax Institute calls for Government to simplify tax laws
The Tax Institute has called for the Government to refocus its efforts on easing the tax compliance burden on small businesses.
...read moreAccounting and Tax Time Articles
-
-
Depreciation made simple for small business
Depreciation has been made simpler for small business in the 2012-13 income year. There are three primary changes and they may impact your timing of asset purchases.
...read more -
What the mid-year economic and fiscal outlook means
Need a quick breakdown on how the Federal Government’s mid-year economic outlook will affect your business? Read on.
...read more -
9 steps to choosing the right accounting system
Remember – time is money! What’s the cost to your business if you have to spend 30 hours a month of your time on your bookkeeping? With this in mind, follow these 9 steps and you’ll be well on track to choosing the right accounting solution for your business.
...read more -
SMBs unaware of beneficial tax rebates
More than half of small and medium businesses are not aware of important changes to the instant asset write-off scheme, according to a recent poll.
...read more -
How good reporting eases decision-making
Whether you’re making decisions about how much stock to order, what extra promotional activity should be undertaken or if you can afford to pay an employee more money, reporting plays a vital role in understanding the impact any choice has on your bottom line and cashflow.
...read more -
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.
...read more -
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.
...read more -
‘Tis the season to be tax scam savvy: Eight tips
The tax return season is almost upon us and experts are warning SMBs to be wary of online scams masked as tax related services by the hackers who are offering them.
...read more -
Using superannuation to buy your business premises: How to
As a business owner, you face the constant decision of how much to allocate to superannuation versus how much to invest in business assets. Bit, if you own your own business and also have a self managed super fund (SMSF), you can have the best of both worlds. Here’s how.
...read more -
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.
...read more -
SMBs prefer cleaning the office fridge to tax reporting
With June 30 closing in, experts warn thousands of business owners may miss out on tax concessions and run of the risk of paying too much tax as EOFY confusion continues to reign.
...read more -
EOFY: How to make year-end less taxing
The end of the financial year is closing in, which means SMBs across the country are on the hunt for missing receipts before their annual visit to the accountant. Year-end doesn’t need to be so taxing though, as a couple of new technologies change the way businesses handle their annual returns.
...read more -
Six easy ways to prepare for the carbon tax
With the carbon tax just weeks away from becoming a reality, almost half of all small businesses say they’re in the dark about a legislation that’s very likely to have an impact on their livelihoods. Use these tips to prepare your business for the incoming tax.
...read more -
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.
...read more -
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.
...read more -
How a financial roadmap can improve profit and cashflow
The lead up to the end of the financial year is a great time to understand how well your business has performed this past year, and what your targets are for the next year. This is where a financial roadmap, which incorporates a budget and a cashflow forecast, comes in handy.
...read more -
How to prepare for incoming ATO benchmarks
The Australian Taxation Office has more government funding than ever before, intended to help it ensure all taxpayers pay what they’re obliged to. To avoid unwanted attention, an expert is urging all businesses to check the ATO’s benchmarking records, to ensure their percentages are in the acceptable range for their industry.
...read more -
Six key considerations when establishing a new business
When setting up a new business, there are a number of things you’ll want to get right the first time around. Here, an expert looks at the six aspects you need to get right if you’re going to go it alone.
...read more -
Decoding accounting lingo and jargon
WIP, Coy, IWO – what does it all mean? Here’s a decoded list of the accounting lingo and jargon SMBs come up against every day.
...read more