As a small business owner in Australia, understanding the tax deductions available to you can have a significant impact on your bottom line. By claiming certain expenses against your taxable income, you can reduce the amount of tax you need to pay, which helps you keep more of your hard-earned money. Today, we will discuss […]
As a small business owner, you may not have a lot of experience with accounting. You might think that accounting is only for big corporations, but the truth is that accounting is just as important for small businesses. In this article, we’ll explore why accounting is important for small businesses and what benefits it can […]
Starting a business can be challenging and exciting. As a business owner, you would need a dependable and well-versed account to handle your money and assist you with making informed business decisions. However, with so many accountants to choose from, finding the right one can take time and effort. This guide will take you through […]
Lodging tax returns is a requirement for every individual and business entity. It is a legal obligation that must be fulfilled annually. However, preparing and lodging tax returns can be daunting, especially for those who need to be better versed in accounting and taxation. This is where the services of an accountant come in. In […]
Lodging tax returns each year is a requirement in Australia. However, it can be a daunting task, especially for those lodging their return for the first time. Failing to lodge your returns correctly can lead to penalties and fines, so it’s essential to avoid making mistakes. Here are a couple of common tax return mistakes […]
Choosing the right small business accounting software can be a daunting task. With numerous options available, it can be tough to identify which is best suited to your company’s needs. Accounting software is a vital part of any business and can help you easily manage your finances. The right accounting software can save you time […]
Many Australians now invest their retirement savings in a self-managed super fund (SMSF) instead of traditional options. SMSFs can provide more control over how their retirement money is managed, reduce their tax burden, and help them keep their administrative costs low. By taking control of their finances, Australians can ensure they have a comfortable retirement […]
If you own a business, there are numerous advantages to hiring a tax accountant to help manage your financial affairs. A tax accountant is an expert in the field of taxation and can help you keep track of your taxes and identify and maximise any deductions that may be available to you. Additionally, a tax […]
The Australian government has introduced a higher instant asset write-off (IAWO) threshold as part of the COVID-19 relief package. It’s essentially a cost-saving incentive for businesses that allows them to claim immediate write-offs for items purchased for business use. The ‘instant’ aspect of the IAWO scheme is particularly appealing for businesses – as it allows […]