How do business loans work?
Delve into the world of business loans and learn about everything from applying to using business loans for growth. It's an essential read for anyone looking to navigate business financing.
ATO Warning to Small Businesses on Tax and Cash Flow
The Australian Taxation Office (ATO) has issued a stern warning to small business operators regarding the misuse of unpaid tax and superannuation liabilities to support their cash flow.
A Short Guide to Small Business Tax Deductions
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
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.
When Should You Register for GST?
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.
Sole Trader Tax: A Short Guide
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)?
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
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
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.