Read our latest insights on bookkeeping for small businesses
Director's Loans From a Company – What You Need To Know

As the director of a company, you might consider a director’s loan (also called a shareholder loan) when you need money urgently but are unable to get a loan from the bank. You may consider taking a dividend from your company but this may not be possible if your company is not profitable. You might […]

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The Difference Between Cash and Accrual Accounting

In this article, we’re going to be taking a look at the difference between cash and accrual accounting. We’ll cover the pros and cons of the two methods, and by the end of this article, you should have a clearer view of whether cash or accrual accounting best suits your needs. The main difference between […]

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Tax Planning - Why it is Important if You Want to Minimise Tax

Tax planning is a legitimate way to try to reduce the amount of tax you pay and increase your tax deductions by making use of investments, tax exemptions, rebates and benefits as much as possible. Tax planning is not the same as tax avoidance. Tax avoidance involves the deliberate exploitation of the tax and superannuation […]

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Cryptocurrency Tax in Australia is Here

Cryptocurrency is virtual or digital money that takes the form of tokens or “coins.” Transactions are generally carried out virtually independently of a central bank, central authority or government. Cryptocurrencies such as Bitcoin can be used to purchase goods in the real world. As cryptocurrencies are becoming more mainstream, governments around the world are now […]

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How to Manage Tax Debt

Unfortunately, due to Covid-19, many businesses have struggled to stay afloat. Business owners have struggled to pay staff, suppliers, and general running costs such as rent and electricity. One area which is not focussed on as often is tax debt. Owing money to the Australian Tax Office (ATO) can happen at any time, but it […]

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What Business Structure Is Best For Me?

There are numerous types of business structures and it can be difficult to figure out which one to choose when you are starting your business or expanding it. Your choice will depend on the size, type, and needs of your business and how you want to run it.

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A Simple Guide to Fringe Benefit Taxes

As a business person, you understand the value of hard work and dedication. Your employees are the lifeblood of your business, whether it’s a small enterprise or a large corporation. Without those dedicated people, you would have serious issues filling orders and carrying out day-to-day tasks. That’s why it’s important to keep them well paid […]

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What Are the Advantages of Registering for GST?

These are exciting times. You are just about ready to open your new business. You’ve been busy setting up all of the systems that you need for your business to work - including the bookkeeping. You know that proper bookkeeping will give you the best perspective on how your business is performing. It’s not glamorous, […]

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Behind on Taxes, BAS Lodgement & Tax Office Obligations?

Debts of any sort are a burden. Whether it be personal, business, school, or in the form of a loan, debt can quickly go from manageable to out of control and stressful. For your business, getting behind on taxes, lodgements and debt repayment is probably not written into your business plan. In order to avoid […]

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How To Prepare and Lodge Your Taxable Payments Annual Report

If you're one of the business owners who operate in the building and construction industry, and you pay contractors for providing building and construction services, you need to make some preparation for the Taxable Payments Annual Report (TPAR) which is due 28th of August each year. The Taxable payments annual report summarizes every payment you […]

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