Tax News and Updates May 2023
Dangers of falling behind on BAS & superannuation guarantee lodgements Many business owners fall behind on their superannuation guarantee...
top of page
Small Business Accounting Blog
- 5 min
Navigating the 5 Stages of Growth to Maximise Business Value
As a business owner, you’ve no doubt heard the phrase "scaling a business" but what does that actually mean? How do you know when your...
- 11 min
Business Tax Update - April 2023
Tips in Preparing the 2023 FBT Return The 2023 FBT year ended on 31 March 2023. Businesses should start planning to ensure their...
- 5 min
Issues to Consider and Strategies for Dealing with Unpaid Distributions by a Family Trust
Discretionary trusts continue to be a popular structure in Australia for both investment and business purposes. The main reasons for this...
- 8 min
Tax News and Updates March 2023
Importance of correctly classifying a person as an employee or contractor An issue that often arises is the question of whether an...
- 4 min
4 Things you Need in your Business Financial Toolkit
If your business doesn't make money, you won’t be in business for long. These four things should be in your financial toolkit to keep you...
- 4 min
Tax News and Updates February 2023
Importance of paying ASIC fees on time for a SMSF It’s very important for directors of corporate SMSF trustees pay the annual ASIC review...
- 5 min
Strategies for Directors to Monitor the Financial Performance of a Company
Directors have a number of obligations under the Corporations Act 2001 (Cth). Failure to meet those obligations may result in exposure to...
- 5 min
Buying Commercial Property in a SMSF
A common frustration experienced by business owners is not being able to use their super savings in their business. Not being able to...
- 5 min
Tax News and Updates December 2022
Claiming losses relating to collapse of FTX crypto exchange The collapse of the FTX crypto exchange has left around 30,000 Australians on...
- 4 min
Tax News and Updates November 2022
Value of goods taken from trading stock for private use by business owners The ATO has published Taxation Determination TD 2022/15...
- 7 min
Tax Issues with Claiming Crypto Losses
What is Cryptocurrency? Cryptocurrency (Crypto) is a digital asset that can be an investment, a medium of exchange or a means to access...
- 5 min
Tax News and Updates October 2022
ATO increases interest charges The ATO has increased both its general interest charge (GIC) rate and shortfall interest charge (SIC) rate...
- 5 min
Protecting Business Assets with Post Employment Restraints
Business owners are aware of the amount of value that resides in the people who work in their business and understand the amount of...
- 4 min
Tax Issues with Division 7A Loans to Private Company Shareholders
The standard company tax rate is 30%, but if the company is a base rate entity (i.e. aggregated turnover of less than $50 million and...
- 3 min
3 Options to Consider Once Your Business Reaches the Freedom Point
The value of your business when you were starting out was probably negligible. Unless you purchased or inherited your business, it wasn't...
- 4 min
Tax News and Updates August 2022
ATO reporting tax debts of sole traders to credit agencies The ATO has started disclosing tax debts of over $100,000 owed by sole traders...
- 3 min
Importance of Contractual Terms in Determining Independent Contractors vs Employees
Identifying the true nature of a workplace relationship has long been a minefield for businesses, especially those that rely on...
- 4 min
2022 EOFY Tax Reporting Obligations for Businesses
With the new financial year having just stated, businesses should now be focusing on their 2021/22 EOFY tax reporting obligations, plus...
- 6 min
Strategies to Limit Tax on Lump Sum Super Death Benefits
Super death benefits are potentially taxable depending on who receives them and the components of the super payment. Generally,...
bottom of page