Tax

  • 31
    Jul
    2024
    Small business owner going over records for a tax audit.

    Tax Audit Insurance: Protecting Your Small Business

    Advances in information technology (AI) means that the scope and ability of the ATO to closely and forensically examine tax returns has increased enormously. This includes current but also past tax returns. That means the ATO will use AI systems to go back through your current – but also past, tax returns and might (for […]

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  • 30
    Jun
    2024
    An accountant goes over a paper ledger.

    Accountants and Bookkeepers: A Guide for SMBs

    Tax time is here and most businesses are going to be looking for – or spending a lot of time with, an accountant. Here is a guide on how to get the very most from your bookkeeper and accountant. What Bookkeepers can do for you For small and medium-sized businesses (SMBs), effective bookkeeping is essential […]

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  • 31
    May
    2024
    A pile of paperwork for BAS

    Back to Basics: Understanding Goods and Services Tax (GST) in Australia and How to Complete Your BAS

    The Goods and Services Tax (GST) is a fundamental component of Australia’s tax system, impacting businesses of all sizes. Understanding GST compliance is essential for ensuring your business operates smoothly and avoids penalties. This guide will provide an overview of GST, compliance requirements, and practical steps on how to complete your Business Activity Statement (BAS). […]

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  • 31
    Jan
    2024
    Australian bank notes with a dollar coin on top.

    Business Accounting Best Practices for Your Business

    Accounting might not be the most glamorous aspect of running a business but it’s undeniably crucial. Accurate and efficient financial management is the backbone of any successful business, providing insights that drive informed decisions and propel growth. Whether you’re a sole trader, large business, seasoned entrepreneur or just starting out, implementing strong accounting best practices […]

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  • 31
    Oct
    2020
    Australian 100 dollar bills

    Pay As You Go Instalments

    So you just did your income tax and the next thing you know – you get a letter from the tax man telling you that you have to pay some of this years tax ahead of time in instalments! What happened? Pay As You Go Instalments (PAYGI) is where the Australian Taxation Office believes that […]

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