There are a range of potential tax issues that a purchaser can inherit when acquiring the shares in a private company, which is why the purchaser needs to undertake thorough tax due diligence and the vendor needs to be prepared. Due to the Australian tax
If you perform some or all your work from home and intend to claim a home office deduction in your 2023 tax return, it’s important you’re aware of the recent changes. The ATO’s Draft Practical Compliance Guideline – Claiming a deduction for additional running expenses incurred
With the festive season upon us, so too are the Fringe Benefits Tax (FBT) implications associated with Christmas parties, client lunches, and gift giving and receiving. Now is the perfect time to consider FBT, and how these additional costs can be managed. If your employees
Why should your accountant should be involved in your business? Coco Hou, CPA and CEO of Platinum Accounting Australia, one of Australia’s leading national accounting, tax, advisory and bookkeeping firms for individuals and the SME sector, is encouraging business owners to involve an accountant in
For founders, the day that someone buys their startup can be bittersweet. While many startups and scaleups forge their own independent path by continuing to grow their market share, for others, a successful exit will be a huge validation of what the whole team has
One of the key responsibilities of the modern CFO is to obtain appropriate funding for the business. While debt and equity have always been key sources of funding, one area that tends to be overlooked is government grants. Government grants, in particular the Research and
Australians pay too much income tax – or so some argue. The Australian Financial Review’s economics editor, John Kehoe, for example, has noted: Australians are paying more personal income tax as a share of government revenue than any other advanced economy, except for the high-taxing Scandinavian
The Australian Taxation Office (ATO) has released a tax time toolkit to help small businesses and their tax professionals nail their income tax returns. It has also flagged what it will be focussing on for small business tax returns for 2021–22: Deductions that are private
Tax time can be a stressful time for many business owners. It can be confusing keeping on top of deadlines, changing rules and deductions. The best place to start with your taxes is by enlisting the help of a tax professional to make sure you’re
Tax planning can be daunting – especially as a small business owner when it adds to your already exhaustive To Do list. At William Buck, we’ve found that many small business owners can become so focused on day-to-day operations of running their business that they leave their End of Financial Year
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