ATO now matching credit card purchases against income
ATO now matching credit card purchases against income Just when you thought the tax man couldn’t get any busier, the ATO has recently announced that it has embarked on the assignment of matching up income declared on business tax returns against credit and debit cards records that specific banks and institutions have generated through the 2015-15 year. This is an entirely new operation […]
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4 ways to trim your small business overheads
4 ways to trim your small business overheads We know that in small business, times can be tough, and saving a few dollars here and there can equate to thousands and even tens of thousands over the course of the year. Lowering your expenses can mean more money to reinvest back into the business, or even better – more money in your pocket! […]
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Beware of fake ATO phone calls
Beware of fake ATO phone calls In recent times, we have heard a disturbing increase in the number of stories from both clients and colleagues alike, regarding phone scams involving perpetrators claiming to be from the ATO. The most recent aggressive scam attempts are from people who are phoning home phone or mobile numbers and trying to force victims into paying […]
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What’s the difference between Accounts Payable and Accounts Receivable?
What’s the difference between Accounts Payable and Accounts Receivable? This is one of the most common questions we hear from new business owners and existing business owners alike.  As a business owner, you can be focused on so many different and conflicting topics at once, and bookkeeping issues often fall very far down the list of priorities. What is the difference? Accounts payable and […]
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Is it tax deductible to give my clients a Christmas or Thank-you gift?
Is it tax deductible to give my clients a Christmas or Thank-you gift? At this time of the year it is common to provide gifts to existing clients and customers as an act of goodwill and as a thank you for their custom and support of your business. As the gift is an expense to your business it is generally considered to be a tax deduction. The ATO […]
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