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7 Common Accounting Mistakes Small Business Owners Make

7 Common Accounting Mistakes Small Business Owners Make

Starting a small business is a whirlwind of turning your passions and talents into a flourishing business. You’re likely learning the ropes of marketing, procurement, recruitment, and more to keep your entity afloat.  While the above areas matter, it mostly boils...

$20K Instant Asset Write-Off Returns: What Does It Mean?

$20K Instant Asset Write-Off Returns: What Does It Mean?

The $20K instant asset write-off enables businesses to reclaim instant funds on assets, like agricultural equipment. In May 2023, the government announced that the asset value threshold would drop from $20,000 to $1,000. Fortunately, the Treasury Laws Amendment put...

TPAR Deadline: Could You Be Liable for Penalties?

TPAR Deadline: Could You Be Liable for Penalties?

Are you on top of your taxable payments annual reporting? Don’t worry; you still have time to organise your documents. With the deadline approaching on the 28th of August every year, the Australian Taxation Office (ATO) warns businesses against submitting documents...

What Is NSW Payroll Tax and How Does It Work?

What Is NSW Payroll Tax and How Does It Work?

Are you a business owner located in New South Wales with a thriving workforce? Do you offer workplace benefits and commit to superannuation fees? If you answered yes to one or more of the above, you could be liable for payroll tax. With the hustle and bustle of...

3 Tax Scams to Keep on Your Radar & How to Avoid Being Targeted

3 Tax Scams to Keep on Your Radar & How to Avoid Being Targeted

If you own a small business, you’ll know that the tax season can bring opportunity and exploitative opportunists. While you may often easily manage the tax season, it’s important to be aware of scams. Government bodies rightly state that scammers can make fake...

Save Thousands by Claiming Property Depreciation as a Tax Deduction

Save Thousands by Claiming Property Depreciation as a Tax Deduction

As a property investor, you’re always on the lookout for ways to make your money go further. Smart financial decisions have got you where you are, after all, and it’s vital you maintain your eye for a good deal. What if we told you that an average rental property...

6 Tax Deductions for Social Media Influencers

6 Tax Deductions for Social Media Influencers

Social media influencers, bloggers, and other online creators can make a full-time living by posting informational, aspirational, and promotional videos on popular social platforms like TikTok, Instagram, and YouTube.  As with other income-generating roles, you...

How Could The PM’s Stage 3 Tax Cuts Benefit You?

How Could The PM’s Stage 3 Tax Cuts Benefit You?

Prime Minister Anthony Albanese takes a hit at the crippling battle against inflation by announcing several monumental tax cuts. He pledges change for every Australian taxpayer, with emphasis on Middle Australia, claiming supporting lower to mid-earners was the right...

Dual Cab UTE Crackdown: Is the ATO Tightening Screws FBT

Dual Cab UTE Crackdown: Is the ATO Tightening Screws FBT

“Ute” refers to a utility vehicle or pickup truck that typically combines the features of a sedan or station wagon with a cargo tray at the rear. A dual cab provides seating for both passengers and a driver.   In a commercial sense, utes are extremely...

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