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 […]
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 […]
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.
As a business person, you understand the value of hard work and dedication. Whether you run a small enterprise or a large corporation, you know that your employees are the lifeblood of your business. 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 […]
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. This is where many owners succumb to pitfalls while setting up their business. Because there are many forms to file […]
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 […]
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 […]
The Australian government is definitely on a mission to stimulate the economy as it unveils SuperStream, which has the function of providing consistent and reliable electronic transactions for superannuation obligations. What is SuperStream? SuperStream is the government’s solution to the persistent cases of lost superannuation accounts and unclaimed money. Aside from this apparent problem, it […]
Doing the taxes for your small business or speaking to your accountant may not give a rush of pleasure at all, but it can save you for a lot of pressure in the future. By being tax-smart, you can get through the end of financial year stress-free. With the right preparation, you can minimise your […]
One of the controversial proposals in the Federal Budget 2015 of the Australian government is the revision of paid parental leave. Previously, employees could get their paid parental leave from their employers and the government, which led to the moniker, “Double Dipping”. This proposed Federal Budget 2015 revision focuses on limiting the paid parental leave […]
