Business tax tips
Dealing with business tax is a crucial part of running any small business. Tax time seems to come around very quickly each year, so it is wise not to leave everything until the last minute! You meed to consider these business tax tips throughout the year. This section provides plenty of business tax help, including how to reduce tax by maximising tax deductions, understanding capital gains tax, the differences between legal control and beneficial ownership as well as what you need to know about ATO audits. Need help calculating your hourly rate? Try this hourly rate calculator. Check out our step-by-step course to solo success.
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Business tax tips
Should you register for GST?
One of the first decisions to be made when starting a new business is whether you should register for GST. Here I’ll discuss the key issues you need to consider.
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Business tax tips
Do you drive for business? 6 time and money saving tips you need to know
If you or your team are on the road for business, a fuel card could be a simple tool to cut fuel costs, slash admin and squeeze every drop out of tax time! Here are 6 fuel card benefits you may not be aware of, including how to get 6c off per litre*!
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Business tax tips
3 things to know before claiming travel expenses on home business
Running a business from home or being a sole trader comes with legal responsibilities and accountabilities to the taxman. Claiming travel expenses as tax deductions can often be tricky, as in the case of claiming tax deductions on vehicles for business use.
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Business tax tips
9 ways to make your 2018 tax return less painful
There’s nothing more satisfying than getting your tax return prepared ahead of time. And this year there’s even more incentive with the ATO extension of the $20,000 instant asset write-off for small business. Follow these nine steps to a stress-free tax return.
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Attracting new business
Our entire course, now part of membership!
We’ve condensed all we’ve learned into our comprehensive step-by-step course and bundled it into Premium Membership, for just $99. Check out Flying Solo membership.
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Business tax tips
What the 2016 Federal Budget tax changes mean for your small business
Looking to buy a new asset for your small business? Should you buy it now to take advantage of concessions offered in the 2016 Federal Budget? Campbell King fills you in on this and more.
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FROM THE FORUMS
how does a 16 yr old get a bank 'business account'
Hi As a 16 yr old with my new business setting up as a sole trader, early enquiries with banks - appears may be difficult to get a business account - bank account…
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Business tax tips
Federal Budget 2015: The Winners and the Losers
The Federal Budget 2015 contained plenty of announcements for small businesses across Australia. It’s clear the Treasurer hopes the budget will prompt or prod small business owners to start investing and generate future growth.
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Business tax tips
The part-time business. Problems to avoid.
Thanks to the internet, folks everywhere are working a day job while running a part-time biz on the side. If this is you, here are some tax traps to avoid.
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Business tax tips
What you need to know about ATO audits
If you’ve been audited, you’ll know that it’s a stressful and time-consuming process. Here’s what you need to know about ATO business audits.
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Business tax tips
Benchmarks: How to audit-proof your biz
Audits are stressful. In this article, find out what business benchmarks are and how you can use them to help audit-proof your micro business.
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Business tax tips
Your home office and capital gains tax
Do you work from home? With a growing number of home-based businesses, the tax office now has you on their radar, so know your capital gains tax.
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Business tax tips
What deductions can I claim in my tax return?
There are lots of rules around what can be claimed as a tax deduction for small business owners. Here are some basic guidelines to help with your next tax return.
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FROM THE FORUMS
How do you create a tax return for centrelink?
I'm quite new to lodging tax returns since I only earn pocket money from online affiliates. Now my question is how do you create a tax return to give to centrelink…
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Business tax tips
How to register for GST
If your business has an annual turnover of $75,000 or more, you need to register for GST. Here’s how to do it.
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Business tax tips
Claiming work-related travel expenses
When it comes to lodging your tax return, an area where many micro business owners get confused is regarding claiming work-related travel expenses. These tips will help clarify if and how you can claim travel costs.
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Business tax tips
How to minimise your tax
The most effective way to minimise your tax in the next financial year is to keep good records.
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Business tax tips
What small business expenses can I claim?
Wondering what small business expenses you can and can’t claim on tax, and why? Find your answers here.
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Business tax tips
Tax deduction tips for home-based businesses
Do you know what deductions you are eligible to claim as a home-based business owner? Are you getting the maximum tax return due to you? Expand your knowledge and maximise your tax return with these tax deduction tips.
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Business tax tips
Tax time tips
The end of the financial year is almost upon us and, for the clever ones amongst us, that means one thing – tax planning!
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Business tax tips
Tax invoices too taxing?
Tax invoices are an inevitable part of doing business in Australia, but many business owners aren’t clear about what needs to be listed on them to ensure they’re valid.
