Small Business Accounting Blog

So, here’s an old joke you’ve probably heard before… what's an accountant? Answer: Someone who solves a problem you didn't know you had;...

Paying reasonable travel allowances to employees The ATO has recently issued Tax Determination  TD 2024/3  which sets out the reasonable...

Contributions to superannuation Employer contributions The superannuation guarantee ( SG ) rate  for the period 1 July 2024 to 30 June...

As the end of the financial year approaches, there are a number of tasks that every business should complete to ensure a smooth...

Year-end seems to roll around faster than ever, so as we enter the last few weeks of the 2023–24 income year, now is the time to ensure...

There are plenty of challenges in running a business but exiting a business can be much harder. Business owners know the importance of...

Payday super ( PDS ) is more than two years away, but there is much to think about when it comes to successfully designing and...

Every company needs a registered office, which could be the same as its business address or even the home address of a director, lawyer,...

ATO renewed focus on superannuation guarantee payments Superannuation guarantee (SG) payments are firmly on the ATO’s radar so employers...

Good positive culture starts from the top. Leaders create culture, good or bad, through the language they use and the example they set....

Navigating the complex world of employment and remuneration laws can be a daunting task for employers. Among the various regulations and...

Many people frequently roll over their super benefits from an industry fund to a new SMSF or even back the way when they wind-up their...

Business owners and managers need to regularly monitor the financial performance of their business. This provides key insights that help...

As a business owner, you will find yourself dealing with other parties of differing sizes and stages of development. These transactions...

ATO ramping up debt collection measures The ATO is set to take a stronger recovery stance when it comes to debt collection. Since COVID,...

When operating a business, the issue of funding matters for a few reasons. Many will think in terms of serviceability, cashflow, security...

Is tax payable on a gift from an overseas relative? There is no simple answer to this seemingly simple question. It is possible that a...

Introduction Recent economic conditions have seen a ramping up of the level of insolvencies in Australia. As interest rates continue to...

Claiming tax deductions for personal concessional super contributions – compliance with notice requirements Taxpayers who wish to claim a...

While many businesses may initially be successful, stagnation is a common issue that can quickly arise without proper planning and...