Business Tax
How to Reduce Your Risk of a Tax Audit: Best Practices for Business Owners
Business tax audits are at a record high as the Australian Tax Office (ATO) cracks down on those who aren’t paying their fair share. In this article, we’ll take you through the red flags that can trigger an audit before covering the steps you can take to audit-proof your business.
Don’t Leave Money On The Table: How To Use Business Losses To Your Advantage
Are you leaving tax losses on the table? Tax losses can be used to your advantage but you need to understand how and why. Our short report outlines what you should do if you’re facing a tax loss.
Working from Home? A Comprehensive Guide to Claiming Home Office Expenses
If you work from your home office, what expenses can you claim as tax deductions to maximise your tax refund? Read on for a complete guide to home office expenses.
All Good Things Come To An End – But What Do You Do When It’s Time To End Your Business
All good things come to an end, and sometimes that end is the closure of a business. When the decision is final, set a date and inform all stakeholders, including suppliers, contractors, employees, and clients. Take the time to properly close your business and meet all tax obligations before cancelling any registrations.
Does My Business Need To Lodge A Tax Return?
You may be running a new business or just starting up. You’ve got your accounts set up but you really don’t know what needs to be done when it comes to tax. When do you need to lodge? What do you need to do? These are all valid questions, especially since you may never have had to think about tax for your business before. So let’s answer some of the questions for the newbies out there.