The End of the Financial Year (EOFY) is almost near. This is the prime time to dust off calculations, review the past, and prepare for the future. Whether starting a business or having been an employer/employee for years, the EOFY…
The Australian government highly encourages new businesses by aligning the tax systems and business laws with a culture of entrepreneurship and risk-taking. There are tax benefits for newly formed businesses available but they are also subject to the structure of…
The 2022-23 Budget is a crucial indicator of what you can expect in the coming year in terms of the government’s focus on support for businesses and business owners. Support for Small Business owners A dedicated unit in the Fair…
During the outbreak of COVID-19 in early 2020, many businesses had suffered their greatest economic shock of all time. The economy worldwide has taken an unexpected turn and business owners have been facing extreme challenges, including managing their cash flow….
Elinor Kasapidis, senior manager of tax policy at CPA Australia and Andrew Watson, a member of the Australian Taxation Office’s (ATO) small-business division stated that digital records of receipts can immensely reduce pressure and tax calculation times. Mr Watson added that…
Check out our Cash Flow Management Tips: Focus On the Cash Flow Adjust your business accounts and create a report to observe the incoming and outgoing money. A cash flow report will help you monitor your money flow and you…
What is transfer pricing? Transfer pricing is a method used by multinational groups to shift earnings out of the international locations in which they function and into tax havens that include a multinational selling itself items and offerings at an artificially…
Every year Commonwealth agencies pay a huge amount of money in government payments allocated for delivering services. These services are provided to the people of Australia under the Commonwealth programs such as disability support, child care, aged care, etc. The…
It is declared that super choice rules will be changed by the Australian Taxation Office. You are requested to remember that if you have any new employees who have not chosen a super fund. From 1st November 2021, on the…
Outdated business systems can cost millions from what has been seen in a recent study by Forrester. As most people carry out their business on-premises in Australia, the benefit of modern technologies and solutions are missed out. The study finds…