Tax Archives

A Short Guide to Small Business Tax Deductions

15 Jul. 2021
Team @ Moula
Tax

Tax deductions are an important consideration for small business owners when determining their assessable income at tax time. Here we’ll look at some of the basics of small business tax deductions available.

ATO Debt – What You Need to Know When You Owe

21 Jun. 2021
Team @ Moula
Tax

For many businesses, ATO debt can be a serious issue. At the end of the 2020 financial year, small-to medium-businesses owed around $21 billion to the ATO, up from $13 billion in 2018.

Register For GST When You Reach The GST Registration Threshold

When Should You Register for GST?

17 May. 2021
Team @ Moula
Tax

New and established small businesses need to consider if and when to register for GST. Small businesses that are below the $75,000 GST registration threshold will need to weigh the pros and cons of registering.

Courier Thinking About The Sole Trader Tax Rate

Sole Trader Tax: A Short Guide

13 May. 2021
Team @ Moula
Tax

Sole trader tax is an issue that comes if you’re running a business as a sole trader. If you’re starting a business and are confused about how to pay tax and tax rates, here’s a guide to some of the basics.

What Is the Taxable Payments Annual Report (TPAR)?

8 Apr. 2021
Team @ Moula
Tax

The Taxable Payments Annual Report (TPAR) applies to businesses in certain industries and is due on the 28th of August each year for the preceding financial year. Here we cover the basics of the TPAR and now to meet obligations if it applies to your business.

Govt Extends Bushfire Relief to Businesses

Up to $250,000 in funding will become available to small business owners working to get back on their feet after the fires.

New Rules Pending for Reporting Business Tax Debt to Credit Agencies

19 Aug. 2019
Team @ Moula
Tax

Cash flow is one of the biggest challenges for SMEs. So when it comes time to meeting tax payment obligations, many businesses end up owing money to the ATO. The tax debt owed to the ATO represents 63 per cent of all tax debt, which was around $13 billion in June 2018. In the 2017-2018 financial year, small businesses had 800,000 of the 1.1 million tax debt payment plans with the ATO.

Non-Compliant Payments to Lose Tax Deductibility from 1 July 2019

2 May. 2019
Team @ Moula
Tax

If your small business pays employees or contractors, you will need to ensure you comply with ATO requirements or lose tax deductibility. This will come into effect from 1 July 2019. Let’s look at how this change might affect your business.

What is Single Touch Payroll?

26 Mar. 2019
Team @ Moula
Tax

With Single Touch Payroll (STP) you can send tax and superannuation information directly to the ATO from your accounting or payroll software, each time you pay your employees. Here we’ll cover the basics of single touch pay and how it affects Australian businesses.

A Short Guide to Fringe Benefits Tax (FBT) for Small Business

18 Mar. 2019
Team @ Moula
Tax

While income tax and company tax seem to be front of mind for most businesses, fringe benefits tax (FBT) is applicable when employers provide certain benefits to their employees or associates of employees (usually family members connected to their employment). Let’s look at the basics of fringe benefits tax.

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