Small Business Accounting Blog

For those in business, payroll tax is a costly and annoying administrative burden that is begrudgingly accepted. In recent times however...

The new financial year has just commenced which means businesses should now be focusing on their 2022/23 EOFY tax reporting obligations,...

It is a sad reality of business that sometimes those you are dealing with let you down, because of this, when carrying on a business...

The end of the 2023 financial year is only a few weeks away, but there are still some last minute strategies that SME business owners...

It is crucial for business owners to consider business succession planning to ensure the smooth transition of their business to the next...

When a self-managed superannuation fund invests in real estate, it can seem like a reasonably straight forward arrangement, with specific...

Dangers of falling behind on BAS & superannuation guarantee lodgements Many business owners fall behind on their superannuation guarantee...

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...

Tips in Preparing the 2023 FBT Return The 2023 FBT year ended on 31 March 2023. Businesses should start planning to ensure their...

Discretionary trusts continue to be a popular structure in Australia for both investment and business purposes. The main reasons for this...

Importance of correctly classifying a person as an employee or contractor An issue that often arises is the question of whether an...

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...

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...

Directors have a number of obligations under the Corporations Act 2001 (Cth). Failure to meet those obligations may result in exposure to...

A common frustration experienced by business owners is not being able to use their super savings in their business. Not being able to...

Claiming losses relating to collapse of FTX crypto exchange The collapse of the FTX crypto exchange has left around 30,000 Australians on...

Value of goods taken from trading stock for private use by business owners The ATO has published Taxation Determination TD 2022/15...

What is Cryptocurrency? Cryptocurrency (Crypto) is a digital asset that can be an investment, a medium of exchange or a means to access...

ATO increases interest charges The ATO has increased both its general interest charge (GIC) rate and shortfall interest charge (SIC) rate...

Business owners are aware of the amount of value that resides in the people who work in their business and understand the amount of...