The coronavirus (COVID-19) presents a significant threat to our health but is now also impacting businesses across the world. The containment of the pandemic is already resulting in dramatic fluctuations in supply and demand, labour…
Getting your business up and running can be a real challenge. Acknowledging this, start-up incubator Runway Ballarat provides fledgling businesses with support to fast-track and scale growth. The Incubator Program also connects entrepreneurs with quality…
The Australian Taxation Office (ATO) has revealed how it is going to use Single Touch Payroll (STP) data, acting as a warning to non-compliant employers. ATO Deputy Commissioner James O’Halloran indicated that the office is…
Last month, the ATO released statistics showing small business is responsible for 12.5% ($11.1 billion) of the total estimated ‘tax gap’. These new figures give visibility to tax compliance issues within the small business sector…
Are you always chasing late payments? Then don’t despair, there are plenty of things you can do to get your clients to pay on time. Here’s are 8 things you can try to improve your…
A consistent theme this tax time is overclaiming and under-reporting. With the Australian Taxation Office (ATO) getting more and more sophisticated in its data matching approaches, taxpayers can expect greater scrutiny where their claims are…
Are you considering buying a new asset for your business? Recently the Federal Government increased the instant asset write-off threshold to $30,000 and extended the initiative to 30 June 2020. So if you purchase a…
Small business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses. Parliament recently passed legislation…
In a recent speech, Small Business Minister Bruce Bilson stated that a lot of his time talking about the $20,000 immediate deduction for small business was convincing people it was not a hand out. “I…
So your business has a turnover under $2 million and you want to know how to use the $20,000 immediate tax deduction that’s been all over the news? Before you start spending, there are a…
