Blog categorized as Accounting
As a small business owner, you need a good understanding of which taxes apply to you right from the start. One tax that can be incredibly confusing for business owners with employees is the fringe benefits tax (FBT). For most small business preparing their own FBT return, it needs to be lodged and l...
One of the most daunting parts of starting (or even running) your own business is the prospect of facing unknown tax requirements somewhere down the line. In order to help sole traders from being hit with a hefty tax bill at the end of the financial year, the ATO uses a system called Pay As You Go, ...
Becoming your own boss and starting a sole trader business often comes with a raft of extra freedoms, the ability to forge your own professional path, and the satisfaction of reaping the rewards of your own hard work. But it's not all sunshine and roses; there are added financial responsibilities an...
Every business, no matter how big or complex, must follow certain steps to be successful. One of the key steps in growing your small business involves managing cash flow by tracking and improving your finances.
Cash flow refers to the movement of incoming (profit) and outgoing (expenses) money ...
eInvoicing (or electronic invoicing) allows businesses to connect to a network and automatically create, send, and process invoices with other businesses on the network.
eInvoicing removes the manual work involved in processing an invoice and connects seamlessly with any system on the netwo...
Your BAS – a Business Activity Statement – is a report that needs to be submitted to the Australian Taxation Office either monthly or quarterly. Generally, businesses need to complete a BAS in order to report and pay GST. The report needs to be lodged by every Australian business registered for GST.
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