Sole Trader vs Company

The main difference between a sole trader vs company is the following; a sole trader traders under an ABN in your personal name; and, a company is a separate legal entity with its own ABN, ACN & TFN So, what does this mean? From a tax perspective, any profits (income less expenses)...

ATO Single Touch Payroll

Single Touch Payroll (STP), is a new way of reporting tax and superannuation information to the Australian Taxation office (ATO). With STP you report employees' payroll information – such as salaries and wages, pay as you go (PAYG) withholding and super – to the ATO each time you pay them...

Everything you need to know – 2019 company tax return

The financial year for 2019 has ended which means your company tax return 2019 will need to be prepared and lodged with the ATO. In this article we will explore what you will need and key information. What information you will need If you are operating a company, it would...

Partnership tax return 2019

If you operate your business as a partnership, the partnership will lodge a partnership tax return for 2019 financial year. The Return will report the partnership's net income (assessable income less allowable expenses and deductions), assets and liabilities, and partner's distributions. As an individual partner, you report on your individual...

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