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Tax
  • May 8 2017 A permanent $20k tax write-off for SMEs would help arrest government distrust says MYOB CEO

    Ahead of this week’s Federal Budget, two-fifths of the small business community are not confident of a favourable outcome, according to research undertaken by accounting software provider MYOB. Dynamic Business asked MYOB CEO Tim Reed to unpack the findings of the company’s SME Snapshot, a monthly survey of small to medium businesses from its customer Read More…

  • April 20 2017 R&D Tax Incentive registration deadline looms

    The deadline for registering for the Research and Development Tax Incentive, which offsets some of the costs of eligible R&D activities, is Monday, 1 May, the Department of Industry, Innovation and Science has reminded businesses. “The deadline to apply for registration is 10 months after the end of a company’s income year,” the Department explained Read More…

  • April 3 2017 Coalition strikes deal for SME tax cuts

    SMEs with revenues up to $50 million will have their tax rates cut after the Federal Government struck a deal with the Nick Xenophon Team (NXT) in the Senate on Friday. Under the deal, which will cost $5.2 billion over the next four years, the tax rate for businesses with turnovers up to $10 million Read More…

  • February 1 2017 Senator Abetz reveals how government could keep funding the SME instant asset write-off

    Senator Eric Abetz has recommended the federal government return small business to the cabinet and place the portfolio in the hands of Liberals. In an address to the Young Liberal Federal Convention, last weekend, the former minister warned that “too much red tape, too much taxation and oppressive regulations” barred small businesses from fulfilling their Read More…

  • October 12 2016 Small businesses are holding back growth to stay within the tax threshold, says MYOB CEO

    Proposed tax rate changes, which would affect approximately 100,000 small businesses, will deliver the best “bang for buck” for the economy,  accounting software provider MYOB and the Council of Small Business Australia said in a joint statement. The statement was in response to Labor’s opposition to the Federal Government’s proposal to increase the eligibility threshold for paying the lower Read More…

  • September 30 2016 R&D Tax Review report recommends capping refund available to start-ups at $2 millon  

    The Federal Government has encouraged businesses to submit feedback on findings from Research and development (R&D) Tax Incentive Review report, released this week Undertaken by Chair of Innovation Australia Bill Ferris, Australia’s Chief Scientist Alan Finkel and Secretary to the Treasury John Fraser, the review had the purpose of identifying opportunities to “improve the effectiveness Read More…

  • August 17 2016 Taxing times: How to take the pain out of making a tax claim on work-related travel

    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). Read More…

  • July 18 2016 Google Tax: an incubator fund for start-ups

    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 Read More…

  • July 1 2016 SME dissatisfaction with fed govt support increases: MYOB Business Monitor survey

    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 Read More…

  • June 28 2016 SME owners losing personal time to EOFY prep

    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 Read More…

  • June 28 2016 Missed opportunities for SMBs that go it alone at tax time

    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 Read More…

  • June 27 2016 Ad-hoc expense management systems a burden for financial controllers and sales staff

    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 business development Read More…

  • June 24 2016 SuperStream extension for small businesses

    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 compliant will Read More…

  • June 8 2016 SuperStream deadline fast approaching, businesses reminded

    With just three weeks until small businesses must become SuperStream compliant, the Australian Tax Office (ATO) has urged those yet to implement the new standard to act now.  From 1 July, it will be mandatory for employers with 19 or fewer staff to send all super payments and employee information electronically in a standard format using SuperStream. According to the Read More…

  • May 30 2016 Making friends with your tax audit: What can it teach us?

    “Embrace your tax audit” are the last words you’d expect to drop from the lips of a financial advisor, but that’s exactly what the head bean-counter from First Class Accounts is asking us to do. Clive Barrett, Executive Chairman of First Class Accounts, said the very idea of a tax audit struck fear into the Read More…

Email Updates
Dynamic Poll
Is the term 'entrepreneur' used to loosely today?
  • No 67%, 2 votes
    2 votes 67%
    2 votes - 67% of all votes
  • Yes 33%, 1 vote
    1 vote 33%
    1 vote - 33% of all votes
Total Votes: 3
July 19, 2019