Tax Tips For Business Owners

Your Tax Return Due Date and Overdue Implications

By Warren Kruger / April 20, 2019 / 0 Comments

It is important to understand your obligations as an Australian Taxpayer to know your tax return due date. It’s extremely important. We have broken it down for you in simple terms to better understand your tax return due date. If you are lodging your taxes using an online platform yourself, you are required to lodge […]

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Single Touch Payroll (STP) Are You Ready?

By Warren Kruger / March 27, 2019 / 0 Comments

If you’re an employer and have 20 or more employees, you should already know and be in the process of Single Touch Payroll. If you have 19 or less employees, you will be required to report through Single Touch Payroll to the ATO from 1st July 2019. Many new employers may be scratching their heads […]

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Is it a Hobby or a Business?

By Warren Kruger / February 18, 2019 / 0 Comments

If you are accepting money in the form of a sale for a product or service, it is important you determine whether you are running a business or if it is simply a hobby. We’ve listed below the important details to help you understand them. Running a Business The below characteristics generally indicate you are running […]

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Do you need an agreement between two business partners?

By Warren Kruger / December 5, 2018 / 0 Comments

Going into new business with other people is exciting and can be extremely rewarding. The question remains … should you get an agreement between two business partners?  A formal agreement can set the ground rules and stop owners getting caught out if things don’t quite go as well as planned. Whether your firm is structured […]

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Taxpayer Alert, Not Alarm

By Warren Kruger / December 2, 2018 / 0 Comments

Every now and then you might read or hear about a “taxpayer alert” being issued by the ATO. Taxpayer alerts are the ATO’s “early warning” signals to the public about a certain area of concern — it could be about fraudulent schemes, or dodgy investments, or perhaps about a tax minimisation tactic that the ATO […]

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Carrying on a Business Through Your Self Managed Super Fund

By Warren Kruger / November 20, 2018 / 0 Comments

Under the regulations, self-managed super funds (SMSFs) are not prohibited from carrying on a business, however the business must be: allowed under the SMSF’s trust deed, and operated for the sole purpose of providing retirement benefits for fund members. Note however that the rules governing SMSFs prohibit or limit some activities available to other businesses, […]

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