Just understand this is going to be tough, and when it gets tough you either dive, survive or thrive. It is our mission to ensure you thrive once the crisis is past and hopefully grow bigger and stronger on the other side. You need to be proactive now! Hard decisions aren’t easy to make, that […]
Wow! This week has been extraordinary since the initial announcement by the Government of the initial stimulus on March 12, added is the extra social distancing measures as well as the associated health actions and the suspension of the AFL competition, having a substantial impact on business in Australia. SMB Accounting will be working overtime […]
Below we have provided a briefing of the stimulus package which the government announced last week in response to the difficult times which are affecting all of us As a business owner or employee of a business, you may/will confront the possibility of yourself or members of your team being isolated from the work […]
Everyone has the right to claim tax deductions in Australia. A tradesperson can definitely claim deductions so you can maximise your tax refund. If you’ve just heard about this good news, lucky you! We know it’s tiring to comply with all those tax requirements but saving money should be your top priority. So, here are […]
Maximising tax deductions is every business’s/taxpayers’ goal. This is one way you can save from paying higher taxes than you need. But, let’s face it, this is one of the toughest things to do when you are running your own enterprise especially If you don’t know how the Australian Taxation Office (ATO) works. So, is […]
This article explains to you the simple steps to take to catch up on outstanding tax returns or late tax returns. With the right assistance, you could be up to date with all your refunds within a month 1. Find out how many years of tax returns are overdue Best to contact your accountant and […]
There are a number of critical parts to your invoicing in order to make sure your invoices are tax compliant. What are the must haves? Ensure the words ‘Tax Invoice’ are prominent Clearly display your full business name and address Your ABN (Australian Business Number) must be on the document The date of invoice is […]
If you have any money in a bank account, more than likely you have earned an amount of interest on your money. This interest is required to be declared in your tax return as part of your Taxable Income for the year. The ATO compares the amount you have declared with the amounts reported by […]
With most universities now back hard at the study and attending classes, it is a great time to look at the available tax deductions for your self-education expenses which you have and will incur into the future. What are Self-Education Expenses? These are expenses incurred in relation to courses provided by a school, college, university […]
common deductions to reduce your tax and increase your refund