Why is my tax refund so small? The tax refund many Australians expect has dramatically reduced. We show you why. There is a psychology to tax refunds that successive Governments have been reticent to tamper with. As a nation, Australia relies heavily on personal and corporate income tax, with personal income tax including taxes on …
Using cloud-based software solutions may sound intimidating if you’ve always stuck to older, more traditional accounting means. However, cloud-based accounting is valuable software to invest in and could make your life as a small business owner much more manageable. In this guide, we’ll detail the six main benefits of using cloud-based accounting, providing insight into …
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As a small business, you must stay on top of your taxes and abide by the law as your business grows. Whilst organising your taxes can be daunting initially, it’ll become easier each time and is essential to running a business of any size. Our guide details four important steps you need to know about …
Creating a balance sheet is one of the best ways to provide accountants and lenders with an overview of your company’s critical financial data, detailing liabilities, assets, and equity to measure your business’s financial health. Creating a balance sheet will be straightforward when you have a sound accounting system and your financial records are up-to-date. …
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Recently during the 2022-23 budget announcement two boosts related to small business, which were announced last year, were flagged again. While not legislated at the time of writing this article, this is great news for the small businesses looking to invest in training their employees and businesses looking to invest in digital services and assets. Both initiatives are …
Small business skill & training and investment boost Read More »
The ATO has put in place a fringe benefits tax (FBT) exemption for employers providing electric vehicles for staff to use, where the vehicle is available for private use. This is great news to many buyers considering an electric car and should encourage a greater take up of electric cars by making them more affordable, but there are …
As a small business owner, making mistakes along the way is bound to happen, but avoiding unnecessary errors will give you a better chance of staying on the right track and not falling into risky accounting situations that could jeopardise your business. In this article, we’ll guide you through ten common accounting mistakes small businesses …
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Accounting is a procedure that requires time and patience, which can cause issues for small businesses fighting against the clock. If this struggle sounds familiar, you may be wondering how to optimise your accounting processes to reduce the time you spend on them. In this guide, we’ll provide five ways to streamline your small business …
5 Ways to Streamline Your Small Business Accounting Read More »
Finding the time to run your business and remain compliant with accounting requirements can feel like an impossible juggling act, which is why many business owners turn to an accountant for support. However, putting your trust in someone else can feel daunting, especially when they’ll be assessing your company’s finances. In this article, we’ll provide …
