Tax

ATO extends SuperStream compliance date for medium and large businesses

Medium and large-sized businesses now have more time to ensure they are SuperStream compliant after the ATO extended the June 30 due date.

EOFY tax planning for shareholders

With the End Of The Financial Year on the not so distant horizon, it’s a good time to organise your financial affairs and assess whether your investments are structured to give yourself the best tax advantage.

Budget 2015: The Winners and Losers

There were certainly plenty of announcements for small businesses across Australia to think about in this budget. Let’s take a walk through the major announcements...

Small business owners: The Budget measures you need to remember

As a small business owner, you need to be clear what this means, where you can save money and what new legislation you are able to take advantage of. Here’s what you should note...

Are you prepared for EOFY? What every business owner needs to be aware of

If this time of year fills you with regret and disappointment, don’t despair. There is still time left to get to work on finishing this year off as well as we can. Set out to make it a Personal Best.

How to startup a business partnership in Australia

After going over endless details of starting your own business, you're finally ready to make your dreams a reality, but you don't want to go at it alone. Like any other form of business, a partnership business has many pros and cons.

Poor bookkeeping horror story: a bean counter’s tale

If you think that bookkeeping and accounting fees are high, consider this horror story, which could be the one tale that gets business owners thinking about their own business.

What to do when a cash crunch is coming

A business with good systems in place will know when a cash crunch is coming and will be ready for it. Unfortunately, most SMEs are not as well organised and, when a problem occurs, it tends to hit them right between the eyes.

ATO cracking down on financial crime

The ATO has today announced the extension of information sharing powers for Phoenix and Trust Taskforces, aiming to tackle Australia’s phoenix businesses and misused trust structures.

GST rules cost SMEs $13.7 billion a year

New research reveals the average SME spends over two full working weeks (84.1 hours) every year in gathering tax on behalf of the Australian Government.

GST reform: New report calls for debate

Tax cuts, higher household incomes and a boost to Australia’s economy will all be the result of a reform to the GST, according to a new report released by CPA Australia.

Government to await white paper before enacting tax reform

According to the Inspector-General of Taxation (IGT) Ali Norooz, there are a number of changes the government could make to the landscape of taxation...

Lowering corporate tax will lead to economic growth: Report

The report, titled Economic Policy Reforms 2015: Going for Growth, said Australia would see a rise in productivity performance if taxation in the corporate sector was lowered.

Battle to recover super from phoenix operators intensifies

The Australian Taxation Office is ramping up its response to rogue phoenix operators who exploit seasonal workers, and pocket their superannuation entitlements.

Tax agents still in demand despite tech advancements

Tax agents still in demand despite tech advancements

Government dodges Senate to increase fuel excise

The Abbott government has bypassed upper-house approval to reintroduce the twice yearly indexation of fuel excise -- a measure frozen by the Howard government -- in a move that will increase input costs for many small business owners.

GST increase: SMEs to benefit from wider tax package

Tax experts and small business advocates have urged that any increase to the rate or base of the GST be accompanied by other tax changes that will help ease the burden on SMEs.

ATO encourages myTax as deadline looms

The Australian Taxation Office is encouraging self-lodgers who are yet to hand in their tax return to use myTax, the revenue collection agency’s new streamlined system designed for those with straightforward tax affairs.

Small business back taxes: does it apply to you?

The government retrospectively axed several tax concessions for small business when it repealed the mining tax. And the question that many small business owners may ask is, does this apply to me?

Government to move on employee share schemes

The start-up community is set to benefit next year from changes to employee share schemes and progress on the setting of clear crowd source...