With many small businesses facing high interest rates, inflation and flagging consumer demand, make sure your small business is taking advantage of all the government support available. Grants, loans, rebates and subsidies are available across a range of industries, business types and purposes, including for
Top tips on getting your taxes right: you’d be surprised what the ATO knows about you. Australia has a complex, multi-layered taxation system that can be difficult to navigate if you don’t consistently stay on top of all the latest news and updates. Individuals and
It’s that time of year again. Learn about the best time to lodge your tax return, what you can and can’t claim and how to start the new financial year on the right foot. The best time to lodge Filling out your tax return gets
New instant asset write-off thresholds, updated tax rules, increased superannuation payments and a rise in the minimum wage are among changes coming into effect on 1 July, says Bruce Billson, the Australian Small Business and Family Enterprise Ombudsman. “It is essential that small business owners
Immediate asset write offs and an amnesty for late lodgements are two of the measures that small businesses may want to take advantage of as the end of the financial year approaches or as they plan for 2023-24. The Australian Tax Office has highlighted a
This year’s CommBank Young Hero Awards shines the spotlight on 10 outstanding business leaders from across Australia. These young entrepreneurs, aged 35 and under, are making a positive impact on Australia’s business market while pushing the boundaries of their respective industries. Let’s take a closer
Intuit QuickBooks has released new research today highlighting the stress and barriers Australians face during tax time. The nationally representative survey of 1,018 Australians found that almost one in three (31%) find the end of the financial year and tax submission time to be stressful,
While the end of financial year is fast approaching, there is still time for business owners to be proactive with their tax planning. This can help to maximise returns and reduce liabilities. As part of an effective tax planning strategy, you should consider the following
The ATO has increased the fixed-rate running cost: home-based businesses can claim a little more on expenses. The Australian Tax Office has increased the rate for claiming expenses under the fixed-rate method. Those working from home or conducting a home business can now claim 67c per
The ATO has put out guidance sbout changes to work from home tax deductions, which affect the records millions of Australians need to keep and how much they can claim at tax time. CPA Australia Senior Manager Tax Policy Elinor Kasapidis says: “Millions of Australians
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