Announced as part of the 2023–24 Federal budget, increased funding has been provided to the ATO to scrutinise taxpayers who have high-value outstanding debts of over $100,000 and aged debts older than two years where those taxpayers are: public and multinational...
Incurring expenses is an unavoidable fact of running a business. But which expenses can you claim tax deductions against and which don’t meet the tax-free criteria? Here’s our lowdown on which expenses you can claim against tax. Which business expenses can you claim...
If you are lodging your own quarterly activity statement you needed to lodge and pay by 28 July 2023. If you lodge using our registered agent electronic services you will have until 25 August 2023 to lodge and pay. Have you allocated all bank transactions to the...
Founding, building and growing your own small business is a hugely rewarding experience for many entrepreneurs. But the road ahead isn’t always smooth. There are common challenges that crop up and ongoing issues that need to be factored into your business plan,...
The start of the new financial year is upon us. For most of you, this means finalising your general ledger accounts in order to get the necessary information to us to prepare your final 2023 accounts and tax returns. However, it can be a time where we forget that our...
Common Tax Deductions for Small Business Are you claiming all the business tax deductions that you are entitled to? There are many expenses common to most small business, and there are other expenses that are specific to the nature of each industry and the goods or...
