While the thought of doing more reporting to the ATO might seem rather annoying, Single Touch Payroll - introduced by the Australian government in 2018 to encourage small businesses to be more compliant in the way they report superannuation or PAYG instalments to employees - is a good initiative in...
Month: February 2022
Claiming Your GST Credits: Don’t leave money on the table
You’ve probably heard of GST before – it stands for goods and services tax and is added to nearly everything you buy in Australia. If you purchase goods and services for your business, the price paid is generally inclusive of goods and services tax (GST). Businesses are eligible to claim ‘GST credits’...
What Can a Small Business Claim on Tax?
As a small business owner there is always a lot going on and for many its often a struggle when it comes up to the end of financial year. Knowing what a small business can claim on tax each year can be challenging if you don't have the right support....
How to Set Up a Family Trust
Setting up a family trust is a great way to optimise your tax position and share assets and distributions with family members. In saying that, it is important that you get the right advice before setting up your family trust. We'll break down the benefits of family trusts and how...
Crypto Tax Australia: Crypto Capital Gains & Obligations for 2022
Crypto tax in Australia can be complicated. You should be aware of two key areas – your individual (or business) tax, and crypto capital gains tax obligations. Understanding how these interact can help you avoid a lot of headaches and get on top of your crypto tax. In simple terms,...