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The government has started a new identification requirement that attaches a unique identifying number to an individual who is a company director. If you are a company director, you will need a director identification number by November...

Have you dived into the world of cryptocurrency exchanges? With the crypto transactions on the ATO radar, it’s important to understand the tax consequences of your cryptocurrency transactions. Cryptocurrency is an encrypted virtual currency, which exists as...

Stuck in lockdown and feeling bored? We understand how frustrating lockdown can be. There’s so much you can’t do and you don’t have control over it. But can lockdown be the perfect time to do some business...

You might have heard of companies introducing business automation and their success stories. Automation can help remove the manual work and streamline your processes. To put it another way, automation can revolutionise the efficiency and productivity of...

Have you organised your end-of-financial year documents for your tax return? Organising your paperwork now means you can get your business tax return completed and receive any refund due or start planning for tax payments. Getting your...

Does your business make payments to family members, directors, or shareholders? Do you have a family trust and make distributions to beneficiaries? If so, from 1 July 2021, the changes to Single Touch Payroll reporting will affect...

The end of the financial year is just around the corner. It’s a good time to arrange your financial affairs to minimise your tax. Having tax planning strategies in place before 30 June will help bring tax...

The government has announced that superannuation guarantee rate will increase from 1 July 2021 to 10%. If you’re a business owner, you may wonder if it means extra cost to your business. On the other hand, if...

When was the last time your review your business profitability? Do you feel like you’re making money, but have little in your bank account? Keeping track of your goals and the money that’s going in and out...

If you’ve heard of GST, but unsure about it, you’re not alone. One of the most frequent questions we got asked by small business owners is around GST. GST stands for Goods and Services Tax. It’s a...

With everything that’s happened this year, Christmas break is welcomed by most people. It’s a chance to spend time with family and friends. It’s also a good opportunity to recharge for the year ahead. But for a...

We all know that in order to make money in your business, you need to generate revenue. But how well do you know what your revenue drivers are? You produce revenue through your usual business activity, by...

If your business is registered for GST, lodging Business Activity Statements (BAS) is part of your obligatory requirements, just like lodging a tax return. While the ATO has made the processed more streamlined, many small business owners...

The government has handed down the 2020-21 Federal Budget after a postponement because of the coronavirus pandemic. The announced measures will affect individuals and businesses. Proclaimed as the most significant Federal Budget in decades, Treasurer Josh Frydenberg...

Do you know the story your Balance Sheet tells you about your business? If you’re not familiar with it, it may seem confusing at first, but it’s actually not that hard once you understand what to look...

If you are like many small business owners, looking at your financial reports can seem daunting, and as a result, you put it at the bottom of your to-do-list. However, your financial reports are more than just...

Are you capturing all your allowable tax deductions to make the most of your income tax return? Individuals and employees can claim for general work-related expenses and occupation-specific expenses and working from home expenses. Income The Australian...