Tax & Compliance

Five Common Business Tax Mistakes To Avoid
Accounting
July 19, 2023

Five Common Business Tax Mistakes To Avoid

Many business owners fall into the same tax traps, leading to unnecessary costs during the critical early stages of your business journey. In this article, we’ve outlined five of the most common types of tax mistakes that small business owners make and the steps you can take to avoid them.

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Four Tax Deductions Every Property Investor Should Know About
Accounting
March 1, 2023

Four Tax Deductions Every Property Investor Should Know About

"In Australia, there are numerous incentives to encourage consumers to invest in property, especially for rental income purposes. In this article, we'll go through the tax deductions that you should be taking advantage of."

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Our top accounting tips for hospitality businesses
Accounting
February 9, 2023

Our top accounting tips for hospitality businesses

"Starting a hospitality business requires a combination of hands-on skills, a passion for working with people, and adequate funding to get off the ground. But ultimately, a key ingredient in your sustained success and profitability will also depend on having sound accounting practices in place to manage the financial and legal side of your business."

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Eight accounting tips for e-commerce businesses
Business
February 2, 2023

Eight accounting tips for e-commerce businesses

With no need to pay rent and the ability to fulfil orders from a warehouse or home, running a successful online store has become an increasingly appealing option for many young entrepreneurs and aspiring business owners. Due to the availability of low-cost start-up options and the many online selling platforms now available, Australia has experienced a significant increase in the number of e-commerce businesses operating online in recent years.

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Seven essential accounting tips for tradies
Accounting
January 12, 2023

Seven essential accounting tips for tradies

Any business owner must keep track of their finances in order to maintain ongoing financial health and the success of their business. Accounting is no less important for tradies, particularly in an economic climate of rising supply costs and tighter cash flow pressures.

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The different types of business taxes in Australia
Accounting
December 15, 2022

The different types of business taxes in Australia

Unlike income tax which is relatively straightforward for employees, tax for businesses is a much more complicated world to navigate. As a small business owner in Australia, you must ensure these tax obligations are met.

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How do I manage the bookkeeping for my small business?
Accounting
September 15, 2022

How do I manage the bookkeeping for my small business?

Keeping clean financial records is crucial when it comes to maintaining healthy cash flow, satisfying your tax requirements and tracking the success of your small business. Unfortunately, the process of bookkeeping as a small business owner can be overwhelming and difficult to understand, especially if you have no background in accounting.

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Eight great tips for sole traders at tax time
Accounting
June 23, 2022

Eight great tips for sole traders at tax time

Tax time as a sole trader can be a stressful experience. Luckily, with a little planning and preparation, you won’t need to dread doing your next tax return. In this blog, you’ll find all the important tax information for sole traders and our eight best tips for minimising your 2022 tax bill.

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12 great tax planning strategies for small businesses
Accounting
May 19, 2022

12 great tax planning strategies for small businesses

Prioritising your taxes until too late can mean you end up missing out on substantial deductions at tax time. For small business, tax planning is an essential part of managing your cash flow and limiting unnecessary expenditure.

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5 tips for managing your business’ cash flow
Business
May 5, 2022

5 tips for managing your business’ cash flow

Effective cash flow management requires constant focus and organisation. Whilst your business may succeed at earning a profit, you can easily find yourself struggling to pay off necessary business costs.

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Six areas to improve your small business in 2022
Accounting
April 7, 2022

Six areas to improve your small business in 2022

Many business owners experience times when they struggle to stay afloat. Running a business, particularly in its early days, can weigh you down with an endless stream of responsibilities and problems that require your undivided attention.

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The key takeaways from the 2022 Federal budget
Accounting
March 31, 2022

The key takeaways from the 2022 Federal budget

There was a clear focus to ease the cost of living for Australian which has skyrocketed in the wake of the pandemic and the war in Ukraine. Tuesday’s budget focused on two key areas to help address this issue.

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Should I be salary sacrificing into my superannuation?
Finance
March 10, 2022

Should I be salary sacrificing into my superannuation?

Salary sacrificing is essentially a savings strategy designed to minimise your tax bill. It involves an arrangement with your employer to receive less of your taxable income in return for benefits of similar value.

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Everything you need to know about director identification numbers
Business
February 24, 2022

Everything you need to know about director identification numbers

Since last November, new legislation has required all company directors to apply for a director identification number in order to better track the activity of directors and their companies.

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Which accounting software is best? Xero vs Quickbooks Online
Accounting
February 17, 2022

Which accounting software is best? Xero vs Quickbooks Online

Accounting is never anyone’s favourite part of running a business. Luckily for business owners, the quality of online tools now available has meant that managing your accounting is far less painful than it used to be.

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