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Archive for category: Tax
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Understanding Your Profit & Loss and Balance Sheet Statements
As a business owner it’s crucial that you keep track of your finances. You don’t need to be an expert on all the reporting if you have a bookkeeper who assists you, but you do need to keep an eye on two key reports to know that you have control of your company’s financial health.
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Update on Temporary Full Expensing – Will It Affect Your Business?
Temporary full expensing (‘TFE’) provides support for businesses, and it encourages investments. Is your business eligible to claim an immediate tax deduction for the cost of an asset this financial year? Let’s look at the impacts of the Temporary Full Expensing rules for small to medium enterprises.
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Checklist for Starting a Business
All businesses start with a skill, idea or opportunity. But you’ll need more than this to make your business successful. Planning, skills, people, time – and luck – are all important.
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How Much Can I Claim on My Motor Vehicle?
If you're using your personal car for work purposes, you may eligible to claim the expenses associated to this. Find out about the rules and claiming methods available.
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2022: The year ahead
2021 was to be the year we returned to a post-COVID normal however the pandemic has fundamentally changed the way many of us operate in our personal and work lives.
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The ‘Backpacker Tax’ and the High Court
The High Court has ruled that the ‘backpacker tax’ is discriminatory. We look at the impact.
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The Basics of Business Activity Statements (BAS)
Let's look at the basics of BAS. Depending on the size of your business, you will need to complete and lodge a BAS form between one and twelve times a year.
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If Santa was an Australian tax resident
A lighter look at the complexity of Australian taxation laws and the year that has been.
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