Two landmark cases before the High Court highlight the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes. Many business owners assume…
Understanding your finances is a vital part of running your business. But getting down into the nitty gritty of the company accounts isn’t every entrepreneur’s top skill. If you are…
Do you know how much tax you pay on superannuation contributions and withdrawals? The amount of tax depends on several factors, and it's possible to minimise the amount you pay…
Good bookkeeping is all about recording and matching your financial transactions. Over the course of a usual week of trading, you’ll have a range of payments being deposited into your…
Different business structures pay taxes in different ways. Although there are many taxes that a business might be affected by, the main ones are goods and services tax, income tax,…
Your December quarter activity statement is 28 February 2022. Make sure you have checked off the following: Have you allocated all bank transactions to the correct accounts?Have you verified that…
Getting your head around the basics of bookkeeping, accounting and good financial practice may not come naturally to all business owners. But the better you understand the numbers, the more…
Australian residents pay income tax on all forms of income, after a tax-free threshold of $18,200. Tax is calculated at four different rates according to how much income you earn…
Businesses struggling with the Omicron wave of the pandemic have been offered new grants and support in NSW, SA and WA. New South Wales The NSW Small Business Support package…
The Treasurer has announced that PCR and rapid antigen tests (RAT) will be tax deductible for individuals and exempt from fringe benefits tax (FBT) for employers if purchased for work…