Carving up your GST
Apportioning your GST obligations
For many small businesses, reporting the GST you collect after issuing tax invoices to customers can be a headache. But there is a way to save time and make the bookkeeping process a bit easier – if you meet the ATO’s eligibility criteria.
What you need to know if you have a side hustle
Whether it’s to pursue a passion or to make a little extra money, more Australians than ever now have a side hustle.
But while freelancing, moonlighting and pursuing passion projects can be a great way to add value to your life, they can sometimes complicate how you go about managing both your time and finances.
Smart ways to invest your tax return
Tax time can often feel like a hassle, but it’s all worth it when that tax refund lands in your account. So, what’s the best way to spend it?
With last year’s average refund being $2,574, it’s no small question.i And if you are one of the lucky ones to receive a refund your options are endless. From paying down debt to investing in your future to blowing it all on a big holiday, the choice of how you spend your refund will depend on your goals and your circumstances.
Is your business financially fit?
The secret to a successful business is to make sure you are not just working IN your business but that you are also working ON your business. As the end of the financial year approaches, there’s no better time to give your business a financial fitness check.
Of course, the best policy is to continually monitor how your business is faring throughout the year. But if you’ve been caught up in the day-to-day management then now is a good time to get back on track because you will be looking at your figures for tax time anyway.
Cruising through the finish line - Tax tips for EOFY
The end of financial year can sometimes feel like a race to the finish. To help you cruise through the finish line come June 30, we’ve prepared a handy list of tips for both businesses and individuals.
Paving the way for a smooth EOFY
As the end of the financial year draws closer, thoughts turn to tax. No doubt you can think of more enjoyable ways to spend your time than preparing for your annual tax return. So how can you streamline the process while ensuring you take advantage of all the claims that are possible?
Guide to travel-related work expenses
Travelling for work can be expensive, whether it’s visiting clients in your home town or attending a conference overseas, so it’s important to claim everything you are entitled to in your tax return. But be aware that the ATO is paying increasing attention to claims in this area.
Bringing the budget into tax focus
As expected, tax is the centrepiece of the 2019 Federal Budget as the Morrison Government seeks to woo voters with just a few weeks to go before the federal election.
Car expenses on the ATO radar
With almost 4 million Australians making work-related car expense claims, the Australian Tax Office has the practice in its headlights.
Tax and your website: What can you claim?
Most small businesses and independent contractors have a website these days. If you are planning to launch a new website or refreshing an existing one, it’s important to understand the tax implications. As with all things tax, it’s not always easy.