Business
GST and Income Tax for Rideshare Drivers
Driving for a ridesharing service means that you are running your own business. Because of that you will have some tax obligations that you must fulfil throughout the year. As a rideshare driver you are not an employee or contractor of your specific rideshare operator – whether it be Uber, DiDi, Ola or various others. Therefore, you…
Single Touch Payroll Exemption for Directors and Family Members
The ATO has provided concession for small employers from Single Touch Payroll (STP) for payments to closely held payees. On July 1st, 2019 STP was extended, covering all employers. This raised some potential problems for directors of their own business or for family businesses who only employ family members. Often, they do not know exactly what their salary or wages will be until just…
What Can You Claim at Tax Time if You Run a Business From Home?
Over one million Australians choose to run their small business from home. It is not only cost effective but offers fantastic work life balance options that are hard to come by in the world of small business. Each year, relentless advances in technology make it easier than ever to run a business from home, so…
How to Keep Clear of an ATO Audit This Tax Time
Tax agents and their clients should expect greater scrutiny from the Australian Tax Office this financial year after the ATO released its first ever “Individuals not in business tax gap” report last year. The ATO is now looking to crack down on the $8.7 billion tax gap it identified in this report. The ATO also…
My Company is Profitable and I Am Paying Tax, But There is No Cash in the Bank. Why?
Business owners often ask where all the business’ cash has gone. Even after having a profitable year, there is often the harsh reality that there is no extra cash in the bank. First thought may be that the books are wrong or someone has made a mistake. More often than not, the explanation is hidden in the business balance sheet. Sure balance sheets…
3 Tips to Stopping Your Cashflow Problems
Every successful business needs good cashflow. It is an essential component that without it, a business will struggle to stay afloat. Whether your business’ cashflow is positive or negative can be a good indication of how your business is currently performing. If your cashflow is positive, then you are gaining more money than losing, if…
5 Essential End of Financial Year (EOFY) Accounting To Dos for Business Owners
The end of financial year can get hectic for business owners. It’s stressful trying to ensure that everything is in order and that you haven’t missed anything. To help you along we have created a list of 5 to dos for the EOFY. 1. Get organised The first step to any end of financial…
One Stop Guide To Make Record Keeping Easy For Your Small Business
Record keeping is a tedious element to owning your own business that is so important but a pain to do. However, it must be done. Whether it be for taxation or legal purposes, not having your records stored could lead you into deep trouble. Fortunately, there are some great methods that make the whole process…
What is XERO Projects and 5 ways it can help your business
XERO is extremely excited about one of its latest features, XERO Projects. This new addition to the XERO accounting software suite aims to help businesses manage projects all from a clean, easy to use interface. There is a lot of emphasis on the applications usability by XERO, who are proud to be able to help…
- « Previous
- 1
- …
- 12
- 13
- 14