Category: Small Business Tax
November 2018: Important Tax Dates
November 21 – October Monthly Instalment Activity Statement (IAS) due
November 25 – September Quarterly Business Activity Statement (BAS) due, if lodging through a Tax/BAS Agent
ATO Finds $850 Million In Superannuation Guarantee Audit
The small business owners who haven’t paid their employees super, have finally been caught out.
Single Touch Payroll (and all the surrounding panic) Is Here
My message to business owners is take a chill pill. All will be sorted.
It’s Time For Global Sincome Tax
Small Business People have been looked down upon for far too long. They need a chance to stand up against the multinational giants.
What Is The Best Software For Accountants?
I want to give you my honest and fair opinion of what’s out there on the market. Firstly, let’s examine the most popular ones – MYOB, Quickbooks and Xero.
The History of Accounting Software for Small Businesses
Grab yourself a cup of tea or a coffee, folks. The history of accounting software is below, including MYOB’s move to Australia and the introduction of cloud-based software.
Trading Trusts For Families In Small Business
There’s one particular structure that we strongly recommend for families who are growing a small business.
Small Businesses Do Need Tax Guidance
Once the ATO beds down the Single Touch Payroll system throughout the whole of the business community over the next 3 years, small business people will be made to pay their obligations in a timelier manner.
The Small Business CGT Exemption After Death
Under capital gains tax laws, if your business has continuously owned an active asset (i.e. business asset) for 15 years, you’re aged 55 or over and are retiring or permanently incapacitated, you may be able to sell the asset including the goodwill and not pay Capital Gains Tax. There are a number of tests to satisfy, but if satisfied then it is quite possible that any capital gain would be tax free.
What Will The ATO Audit This Year?
It can often be difficult to know where exactly the tax office are going to be focusing their audits. As it is the start of a new financial year, I thought I would provide some insight into where the ATO will be pointing their guns in 2018/19.
It can often be difficult to know where exactly the tax office are going to be focusing their audits. As it is the start of a new financial year, I thought I would provide some insight into where the ATO will be pointing their guns in 2018/19.
What Will The ATO Audit This Year?
It can often be difficult to know where exactly the tax office are going to be focusing their audits. As it is the start of a new financial year, I thought I would provide some insight into where the ATO will be pointing their guns in 2018/19.
Company Disaster
Companies are a disaster if you own a growing small business. They don’t get a 2nd Capital Gains Tax discount if they sell a business and they have the inflexibility of an old man in his first yoga class. You need your head read if you are stuck in one, but there is a way out of a company and into all the business and tax flexibility of a trust.