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Tax
  • April 2 2019 Pre-budget commentary from Sam Allert, Reckon Group CEO

    Sam Allert, Reckon Group CEO, shares his thoughts on the impacts of the expected federal budget announcement this evening.  General Outlook “Our survey uncovered that 65 per cent of small business owners do not believe this year’s Federal Budget will deliver positive change for their business, suggesting that they have been disappointed by budget announcements in the past. “As a result, many are Read More…

  • April 2 2019 Xero’s Small Business Insights shares key small business findings

    The accounting app Xero share their Small Business Insights with us to shed light on what small businesses should be aware of, which is now made especially relevant with the federal budget announcement later today. The anonymous and aggregated data is collected monthly from hundreds of thousands of Xero’s Australian subscribers through the Xero platform. Read More…

  • June 26 2018 Tax tricks for small businesses this EOFY

    5 tips to tidy up your tax before EOFY.

  • May 25 2018 Understanding essentialities of the Australian tax system

    The tax system of Australia is extremely vast to say the least. The citizens therein are liable for the payment of 125 different forms of taxes every financial year. Like every other country, the Australian government levies leveled taxes on its citizens on the basis of: Taxes to be paid to the Australian government Taxes Read More…

  • March 29 2018 Ready for STP payroll? The latest ATO update

    John Shepherd, Assistant Commissioner, Australian Taxation Office delves into some of the finer detail ahead of the 1 July move to Single Touch Payroll (STP), a change to the way larger employers report tax and super to the ATO. The 1 July start for Single Touch Payroll (STP) is fast approaching, and all larger employers, Read More…

  • September 25 2017 ATO, funds sitting on $18b in unclaimed super

    Almost $18 billion worth of superannuation is still waiting to be claimed in Australia, with the ATO revealing the top ten postcodes for unclaimed super. According to the ATO, as at 30 June 2017, there were over 6.3 million lost and ATO-held super accounts with a total value of $17.87 billion. Super funds are holding Read More…

  • June 30 2017 Cloud accounting advancements have led to more SMEs doing their own tax, says MYOB

    An increasing number of small business owners will complete their tax returns themselves this year, according to research undertaken by cloud accounting provider MYOB. The company’s June SME Snapshot revealed that 41% of owners plan to complete their own returns, up from 41% last year.  John Moss, MYOB’s chief strategy officer told Dynamic Business that Read More…

  • June 29 2017 Simple ways to improve cash flow this EOFY

    With the end of the financial year almost upon us, now is the time to make the most of your tax planning. If you are like most business owners, chances are you are putting off thinking about your tax until after 30 June. However, you MUST act now. If you wait until after 30 June, Read More…

  • June 26 2017 Prepare or fall prey to the tax man: how to make sure your business is ready for 30 June

    Are you across all of the changes and how they will affect your business before this financial year ends? As an owner of an SME, the onus is on you to make sure that your business is prepared. Here are my top tips to ensure you end the year on a positive note, rather than Read More…

  • June 26 2017 Review your industry, socialise (in the real-world) and other ways to get an EOFY leg-up

    The phrase ‘tax time’ can all too easily translate to feelings of boredom, dread and uncertainty for the small business owner. There’s the income tax return, BAS, payroll tax, super, and more. However, instead of viewing the annual marker as a time-sapping and difficult box-checking exercise, it should be seen as a spring board to Read More…

  • June 21 2017 NSW Budget: measures will save money for up to 600,000 small businesses, treasurer says

    More than half a million small businesses stand to benefit from tax cuts included in the 2017-18 NSW Budget, according to Treasurer Dominic Perrottet. In a statement, released yesterday, the Treasurer announced: “From 1 January 2018, the NSW Government will abolish insurance duty for small businesses on commercial vehicle insurance (including aircraft), professional indemnity insurance, Read More…

  • June 20 2017 Five strategies for reducing the confusion and stress associated with tax-time in your SMB

    It’s nearing that time of year that all business owners dread, as the June 30th deadline approaches, SMEs are forced to get their last year of financials in order and prepare for tax time. As we close in on the end of the financial year, here are some top tips and expert advice for Australian Read More…

  • May 15 2017 Three reasons this year’s federal budget is advantageous for small business owners

    After the Federal Budget was announced on Tuesday, 9 May, small business owners will be trying to work out what matters most to them. Here are three main things we have been reviewing that may impact how small business do business – and it is mostly for the better. 1. Less red tape It is Read More…

  • May 10 2017 Federal Budget: foreign worker tax introduced

    Businesses that employ foreign workers will be subject to a new levy that will be used bankroll a fund for training Australian job seekers, the Government announced in the Federal Budget. From March 2018, businesses will be subject to a levy of $1200 per foreign worker or $1800 if they’re on a temporary skilled visa. In Read More…

  • May 10 2017 Federal Budget: small business $20k instant asset write-off scheme extended by one year

    Businesses with an annual turnover of up to $10 million will benefit from the $20,000 instant asset tax write-off scheme for a further 12 months, the Government announced in the Federal Budget. The extension has generally been welcomed, although there have been calls to make the measure permanent and increase the write-off threshold to benefit more businesses.  Read More…