Why and When Should You Consider a Business Restructure?
Audits can be scary, but there is a lot you can do to prepare in order to have the best possible experience. Here’s what happens during an ATO audit.
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Accounting | Accounting | BAS, Tax Returns & Financial Statements | Contractor Handbook | Small Business Handbook | Tax Planning | Tax Planning
How To Choose The Best Accountant for Doctors
Medical professionals constantly juggle their day-to-day practice with the business side of things. But let’s face it, as a doctor, you’ve got your hands full with patient care, so management and financial planning tends to take a backseat. While a doctor’s primary goal is to focus on providing health services to their clients, they mustn’t…
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What Does the RBA Interest Rate Rise Mean for You and Your Business?
At the start of September 2022, the Reserve Bank of Australia (RBA) raised interest rates once again, pushing it to 2.35%. This marks the fifth consecutive increase since May 2022, making it the most rapid cash rate growth that Australians have seen since 1994.
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BAS, Tax Returns & Financial Statements | BAS, Tax Returns & Financial Statements | Contractor Handbook | Small Business Handbook | Tax Planning | Tax Planning
The 9 Best Tax Deductions For Doctors
Doctors are among the highest-earning professionals in Australia. And the higher the income, the higher the marginal tax rate. But did you know that as a medical professional, you’re eligible for a pretty long list of deductions? Unfortunately, however, many doctors are missing out because they don’t know what tax deductions they can claim. So,…
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Fuel Tax Credits Explained
Claiming fuel tax credit can provide a significant reduction in the amount of tax you pay on your business’s operating costs. Yet, claiming these fuel tax credits is often overlooked by many small business owners. To help make the claiming process a bit easier, we’ve put together an article that breaks down everything you need…
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Advantages & Disadvantages of a Holding Company
If you’re an entrepreneur or director of a small business, I’m sure you’ve heard about setting up a holding company to reduce risk and minimise tax while your business grows. Many people end up setting up holding companies for the protection it offers, but it’s worth noting that there are limits to that protection. For…
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Everything You Need to Know About Wine Equalisation Tax
Wine equalisation tax is levied on wine consumption in Australia. Wine production makes up a considerable part of the agricultural industry, contributing over $45 billion annually to the Australian economy., What’s more, according to Wine Australia, the wine industry employs around 163,790 full and part-time employees across the 65 wine-growing regions. Wine equalisation tax (WET)…
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The Ultimate Guide on Land Tax
As an investor, there are several property taxes that you need to be aware of, one of them being a land tax. While there may be some exemptions, paying land tax is an inevitable part of owning a property. It can often be overwhelming trying to navigate land tax and how it’s assessed – especially…
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Small Business Handbook | BAS, Tax Returns & Financial Statements | BAS, Tax Returns & Financial Statements | Contractor Handbook
#1 Guide to Surviving an ATO Audit
So you or your accountant has been notified that an ATO review and/or an ATO audit will take place on your tax return. What do you do? Facing an ATO audit is unwelcome scrutiny that no taxpayers would like to be subjected to. Not only that, they can wind up costing you a significant amount…
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Small Business Handbook | BAS, Tax Returns & Financial Statements | BAS, Tax Returns & Financial Statements | Contractor Handbook
4 Steps To Remit Your Failure To Lodge Penalties
Failure to lodge penalties are enforced by the ATO when businesses are not meeting their reporting obligations. If you have received such a penalty, don’t despair just yet. In this article, we explain exactly how you can have this remitted. How Much is the Failure to Lodge Penalty? For small business entities, the failure to…
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