How the instant asset write-off helps SMBs
Many small businesses are missing out on a key tax perk, with many unaware of the Federal Government’s $6500 instant asset write-off.
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3 important tax concessions for SMBs
Small businesses are the lifeblood of our economy, employing almost half of our nation’s total workforce. They deserve assistance in the battle to compete with large competitors and ecommerce stores.
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The single most common error made on start-up tax returns
An Ernst & Young partner explains why you don’t want a do-it-yourself approach to tax return prep this year (even if you’re bootstrapping).
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Understanding Fringe Benefits Tax – what you need to know
The offering of appealing fringe benefits can be the key to success in a competitive job market.
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Tax incentives for research and development – another reason to innovate
Recently, the Australian government acknowledged the importance of innovation by offering a new research and development tax incentive for innovative businesses, which allows business owners to claim up to 150% of their research and development expenses on their 2012 tax returns.
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What the mid-year economic outlook means for business
The Federal Treasurer has released the Mid-Year Economic and Fiscal Outlook (MYEFO) for 2012-2013, and it won’t come as any great surprise to SME owners that the economy, whilst not going backwards, is certainly not moving forwards as swiftly as the Treasurer would like. Here’s how the MYEFO announcement will impact small businesses over the foreseeable future.
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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.
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Managing cashflow with the right GST registration
To optimise cashflow management for small business, it is imperative that Goods and Services Tax (GST) registration suits the business operations. This step-by-step guide will help you understand how to take GST reporting from cash to accruals basis.
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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.
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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.
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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.
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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.
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What Aussie small businesses really need to be competitive
Australian SMEs are in a perplexing situation. On one hand, technology means start-up costs are low and the potential for small players to disrupt established markets is strong, but on the other, operating costs are high, making it difficult to scale up. So what do local small businesses really need?
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‘We’re not happy’, SMBs tell government
Small to medium business confidence in the Government and Opposition has fallen over the past year, as many SMBs report dissatisfaction with the performance of politicians in general.
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No more taxes, retailers plead
A leading retail body is calling on the federal and state governments to consider the impacts of new taxes on consumers and businesses, as many begin 2012 budget discussions.
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5 questions to ask a small business accountant
Successful entrepreneurs and business owners know their numbers and rely on their accountant to provide specialist help and leadership in this area.
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Christmas parties, gifts and your tax obligations
As the festive season rolls around, small business operators once again turn their attention to the organisation and planning of end-of-year celebrations and gift giving. But don’t fall foul of the tax office—find out what your obligations are for this festive season.
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MYOB launches next-gen accounting solutions
MYOB has officially launched its $75 million next generation accounting solutions, as part of a new vision for the company’s business management systems.
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Threats to watch out for during the tax season
Trend Micro’s Tina Su blogs about remaining vigilant online as the EOFY draws closer.
“Cybercriminals often capitalise on the tax season to launch a plethora of attacks and that is not surprising.”
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The EOFY countdown begins
Happy June! The end of financial year ‘EOFY’ is almost upon us!
I know that, for some of you, today signals added stress and more pressure. But that doesn’t need to be the case.
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