The end of financial year is fast approaching. It pays to be organised so you don’t have to face a mountain of paperwork at the last minute, but also because there are tax implications that can land you in hot water if they are not processed.
You want your business to grow and you know you need to hire an accountant to take things to the next level, but perhaps the cost of hiring someone has held you back from making that decision. However, it might be time to look at it another way – instead of the costs, hiring a good accountant might mean much more in savings than you might originally think.
The government has released support for Small Business due to the Covid-19 emergency to help those who cannot trade normally, if at all. Isolation and restrictions has changed normal trading opportunities and businesses are struggling. What are the current schemes and how can they benefit you?
An Immediate deduction for the full cost of depreciating assets has been increased from $30,000 to $150,000 purchased and installed from 12 March 2020 to 30 June 2020. What else do you need to know if you want to claim the new instant asset write off?
The ATO intends to provide relief to businesses impacted by COVID-19 through a number of measures. What are they and how do they affect you?
The TPAR report is designed to allow the ATO to improve compliance with tax obligations by comparing payments made by one contractor against the tax returns of the business they pay. What is a TPAR, and does this affect your business?