Your Guide to BAS Due Dates 2024: A Must-Read for Small Business Owners. The importance of the Business Activity Statement (BAS) for small businesses in AustraliaAre you a small business owner in Australia struggling to manage your tax obligations effectively? The...
SME Business Guide to STP Finalisation. If you're a small business owner in Australia, you're likely familiar with Single Touch Payroll (STP), the government initiative requiring employers to report payroll information to the Australian Taxation Office (ATO) in...
Staying up-to-date with tax compliance is necessary when running a business. Failure to comply with reporting obligations can lead to penalties, becoming a financial burden. Understand the general rules in tax compliance and the specific requirements imposed on the industry of your business.
PAYG means “Pay As You Go,” which the Australian Taxation Office uses to collect payments from taxpayers. It is beneficial since paying tax ‘as you go’ over the year entails not settling the lump sum amount at one go but spread out in instalments, making it easy to meet tax obligations.
Small business tax offset targets individuals carrying out small businesses as sole traders and those who receive part of their net small business income through trusts and partnerships. They must also have an aggregated turnover of less than $5 million to be eligible for the tax offset.
Rental properties in Australia can be some of the most financially rewarding long-term investments and offer a variety of tax benefits. Maximize the benefits to turn a negative cash flow property into a positive cash flow.
