Myths of the instant asset write-off
Although it has been in existence for several years, you may be unaware of a small business tax concession which could save your business $$
What is the CGT Active Asset Reduction?
The Active Asset Reduction is one of the CGT concessions available to small business entities. If your CGT asset passes the relevant tests,
Do I operate as a Hobby or a Business and what are the Tax implications?
An important distinction in the world of tax is the difference between a “business” and a “hobby”. Simply put, income received in the course
Pay your taxes on time! An Introduction to ATO interest and Penalties
There are 3 main classes of additional amounts the ATO can add to a taxpayer’s tax liability. These are normally issued when a tax return, B
What is the default assessment and how will it impact you.
The ATO has a wide range of options and strategies to ensure taxpayers lodge their tax returns or activity statements on time. When these at
3 Financial Habits to Break in 2019
Owning and managing a business can be the highlight of your professional life. However, there are times where a combination of late creditor
Do not rob your employees Future by not paying super.
No matter how bad cash flow becomes, do not rob your employees of their future by not paying their superannuation.
Super is money put asid
Tax Agents out of the loop - what ATO correspondence changes mean for you?
In response to sustainability and environmental concerns, the ATO is taking measures to reduce the amount of paper correspondence it sends t
What is ABN withholding?
ABN withholding occurs when a supplier does not have, or does not advise you with their ABN for the goods or services they supply to your bu
Tips on how to approach an ATO audit!
Audits are necessary to ensure there is fairness, legality and compliance for all businesses. Most people will cringe when they hear the wor
