If you’ve been one of the numerous small businesses who have received government support or payments by the way of economic help during COVID-19, you might be aware of the extra record keeping or calculations that are required to work out turnover or other reductions.
There are numerous tax deductions that can be claimed when you’re a sole trader. The trick is be aware of all of them because there are a few little-known tax deductions that escape even the most savvy sole trader. It pays to learn what you can claim at tax time.
If your small business earns over $75,000 per year, you’ll need to collect and pay GST, as well as lodge a BAS. It doesn’t have to be hard. In fact, there are hidden benefits you should be aware of.
What purpose does the balance sheet and the income statement serve – and which document is the most important?
Community sheds can now be DGR endorsed. Read our short report and find out what you have to do to take advantage of these new legislative changes.
Lodging your tax return can be stressful, especially if it’s your first one! Let’s see how much tax we can get back for you.