Small business tax offset and other concessions play a vital role in lowering your taxes and improving cash flow, however rules around these can be hard to follow without adequate technical knowledge. Concessions can change from year to year as well, making it all the more difficult for business owners...
Month: January 2021
What is personal services income and why does it matter?
If you’re working for yourself, then it’s important you know whether ATO personal services income or PSI rules apply to the money you earn.Since these rules affect the way you report your PSI and the business deductions you can claim, not following them when you should could lead to incorrect...