Business
Sole Trader - complete guide
- Asset Protection
- Income
- Expenses
- Tax
- GST
- Buying a business
- Selling a business
- Other
March 2024 - Latest tweaks of the stage 3 tax cuts to make room for ‘middle Australia'.
... read moreStarting a new business
Xero Toolkit
- Research
- Setup
- Finding & selling to customers
- Getting paid & paying others
- Business accounting 101
- Xero free trial
Excel Cashbook
Recommended for Sole Traders ONLY who are
-Not registered for GST
-Not employing staff
December 2023
Topics Include
- Fighting Inflation
- Business Structures
- I am making a profit so where has the cash gone
- Work Christmas parties & FBT
- Directors & cyber security
Company or Trust?
Coming Soon
September 2023
Topics Include
- Contractor Payments (TPAR)
- Trade Marks
- Selling your business
Tax Return Process - Business Clients
Steps we follow to prepare your business tax return
... read moreJune 2023
Topics Include
- The 2023-24 Federal Budget Highlights for Individuals, Small & Medium Business, and Superannation
- 2023 Year End Tax Planning Guide
- 2023-2024 Tax Return Checklist
... read more
2023 Australian Federal Budget for SMEs
-Individuals
-Small and medium businesses (SME)
-Superannuation
-Administration
Sole Trader - What deductions can I claim?
Small Business Entities (SBE) can generally claim everything they spend on the business, except expenses which of a private or capital nature
... read moreSmall Business Technology Investment Boost and Small Business Skills and Training Boost (ends 30/06/2023)
Small Business Technology Investment Boost and Small Business Skills and Training Boost (ends 30/06/2023)
... read moreChanging from a Sole Trader to a Company or Trust
My business has grown and I think its time to change to a Company
... read moreDecember 2022
- 4 Myths of Starting a Business
- Company Director ID Deadline Extended to 14 Dec
- ATO Identify 3 Primary Targets for Individual Taxpayers
- ATO is Watching the Cash Economy
- ATO Fines to Increase
- Expansion on Single Touch Payroll Phase 2
- Hello 2023 - is it Time for a Business Health Check?
ATO warning re scams – “what we never do”
The ATO has again encouraged businesses and individuals to brush up on their knowledge of tax and superannuation scams – and that they know what to look out for. In this regard, the ATO states that here are a few things it never does:
... read moreDo I need to register for GST?
You must register for GST once your sales turnover reaches $75,000 (see below - working out your turnover)
You can voluntarily register for GST if your sales are under $75,000 – business owners choose to register so their business appears bigger than it is or to claim back GST on a large purchase
You must register for GST when you provide taxi or limousine travel for passengers (including ride-sourcing) regardless of your GST turnover – this applies to both owner drivers and if you lease or rent a taxi
... read moreMotor Vehicle Expenses
ATO Information
Tax Planning - Trusts
Tax planning is the process of estimating your current year's taxable income and tax payable and taking steps to minimise this.
It involves these 4 steps.
... read moreMy business profit is $45,000 and the bank balance has not changed so where has the profit gone?
... read moreBuying a car
IMPORTANT: If unsure as to whether your vehicle / dual cab ute is an exempt vehicle please contact us BEFORE purchasing it
... read more2022 Federal Budget Summary
Compared to past years, this year’s Budget is a little bland however, it does include some ‘sweeteners’ to keep the electorate favourably disposed toward the incumbent Government, come election day.
Buying a Car
IMPORTANT: If unsure as to whether your vehicle / dual cab ute is an exempt vehicle please contact us BEFORE purchasing it
... read moreMarch 2022
- The Key Ingredients for Business Success - Part 3
- Great Teams Build Great Businesses
- Winning Website
- Video, Technology & Software
- Customer Database and CRM system
Marketing Essentials for Business Start-Ups
- Branding
- Website
- Social Media
... read more
Bookkeeping software
We recommend Xero (for most clients)
Other common bookkeeping software includes
- MYOB
- Quickbooks
- Reckon
- Sassu
Paying Workers - Links
Take care when employing contractors as they may actually be employees in the eyes of the ATO.
Work cover, payroll tax and super may also be payable - you will need to refer to the relevant authority's website for further information
... read moreStarting a business
When starting a business & deciding which entity to use (sole trader, trust, company) we focus of 4 things
1-Asset Protection - protecting business owners assets
2-Income Tax Minimisation
3-Capital Gains Tax Minimisation - when selling / exiting
4-Exit / Sale of Business
Other considerations include – director wages & super, work cover, image, note that some businesses will only deal with a company/trust as opposed to sole traders
Make a free 30min no obligation appointment with us
... read more