Essential Tips to Avoid a Huge Tax Bill as a Sole Trader
If you find yourself with a bigger tax bill than anticipated, don't panic. With a little bit of planning, you can avoid this common issue for sole traders. All you…
How to Know If Your Sporting Club Can be Tax Exempt
Sport is a significant part of Australian culture and social life. It provides entertainment and recreation and contributes to health and well-being. Many sporting clubs, for example, are registered for…
2022/2023 Federal Budget
March 29 2022 treasurer Josh Frydenberg has handed down the budget. Having a strategy of stimulus pursued alongside major infrastructure, health and defense spending. Borders are open and Australia is…
What You Can Deduct or Write Off in Your Small Business Tax
A tax deduction reduces taxable income, allowing qualifying businesses and individuals to lower their tax obligations. There are two basic types of tax deduction in Australia: deductions for eligible expenses…
5 Common Mistakes in SMSF Annual Return You Need to Avoid
Everyone makes errors from time to time. When preparing and lodging your self-managed super fund (SMSF) annual return (SAR), you want to get it right. The top five errors are…
What You Need to Know About Filing a Late Tax Return
If you run a business, you may find yourself struggling to keep up with annual tax obligations. Between managing your staff, your investors, and other challenges, it’s easy to forget…
4 Ways to Manage Your Receipts for More Tax Refunds
For many of you, tax time makes you sick to your stomach. But it doesn’t have to. You don’t need to lose sleep waiting for the call from your accountant…
Work-Related Travel Expenses You Can Claim
So, you have a work-related trip coming soon, and you wonder how much of your travel expenses can you claim. If you are a small business owner or an independent…
8 Benefits of Using Accounting Software for Your Business
If you're like most business owners, you may have started with a spreadsheet for financial tracking. There's nothing wrong with that, but as your business expands, it may become significantly…
Everything That You Need to Know About Audit Quality
While audit quality may not be your top priority, you may want to reassess and reallocate resources towards your business’ ability to improve and maintain audit quality. Now, we understand…