End of Financial Year

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20
May

Tax deadlines for your business this EOFY

Written by Pam Pitt

Here we go again... another financial year coming to an end soon. As you prepare to trudge through the minefield of payroll and financial year end obligations, here’s a list of the important end of financial year (EOFY) deadlines for your business.

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16
May

5 simple steps to prepare your business for EOFY

Written by Joe Kaleb

Whether you are a start-up or an established small business, keeping proper records is very important not only for calculating your income tax and BAS payments, but also for determining the financial health of your business. I’ve outlined 5 basic steps you need to do to start preparing for your business’ end of financial year (EOFY).

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16
May

3 tips to make your accountant love you more

Written by Tracey Sharah

Tax time — yes, I can hear you shuddering now, but for many businesses it’s time to prepare for the completion of their tax return. My best advice is to get your tax return done early in the year, so you can move onto the next financial year knowing any tax liabilities or refunds that are due. It’s important because you need to know how to meet your tax obligations and claim your business entitlements correctly so that you do not pay more tax than you need to.

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15
May

How will the Federal Budget affect small businesses?

Written by Liam Shorte

Last night’s Federal Budget announcement had some winners and losers. But a budget deficit of $19.4 billion was always going to mean that there would be little or no good news for small business owners, despite Treasurer Wayne Swan’s emphasis on job creation. In truth, small business will be left wanting from the lack of any significant measures designed to make doing business easier, reduce costs, improve education, skills and training, or support business and consumer confidence.

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14
May

Federal Budget: 5 initiatives to help family businesses

Written by Tim Reed

Nearly 70% of all businesses in Australia are family-owned, whether that’s the local news agency run by a husband and wife team, through to the mid-sized, father and son construction company. Ideally, tonight’s federal budget annoucement should cater for family-owned small businesses. It’s no secret they have a significant impact on our economy. More than 2.1 million small businesses employ over 4.8 million Australians (nearly 50% of private sector industry employment), and contribute 34% of gross domestic product.

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08
Apr

Basic tax explained for startups & small business

Written by Tracey Sharah

If you’re planning to start a business or about to start one, welcome to the world of business taxes. Here in this world, your new best friends will be called GST, BAS and PAYG.

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