The manufacturing accounting process is complicated whether your operation is big or small. These days, many businesses have turned to manufacturing and accounting software to streamline processes and gain deeper operational insights. But if you’re still stuck on using Excel spreadsheets to understand what’s going on, then you’re at risk...
Author: Patrick Sargent
Patrick Sargent is a Chartered Accountant and registered Tax Agent who is passionate about helping business owners and individuals achieve their goals. He co-founded the cloud and tech-focused accounting firm POP Business back in 2018. Since then, Patrick and his team have won numerous awards and accolades including the 30 Under 30 ‘Tech Innovator of the Year’, and coming in as a finalist in the Australian Accounting Awards 2020.
He has expertise in helping small businesses with a range of accounting services, including tax preparation, financial advisory, accounting and bookkeeping, and personal tax planning, as well as company, trust, and partnership tax returns and more.
The SME Recovery Loan Scheme can help your business
In October 2020, the Australian Government rolled out the Coronavirus SME Guarantee Scheme Phase 2 targeted at SMEs receiving JobKeeper. The Government has now announced a new SME Recovery Loan Scheme that will allow lenders to provide cheaper credit and allows SMEs to access funding they need to recover and...
Sole Trader Tax Deductions & Tax Rate
As a sole trader there are many items you may claim as deductions to offset your operating expenses and reduce your taxable income. In this article we will cover what you can and cannot claim as sole trader tax deductions, the sole trader tax rate, how to pay tax as...
Uber driver tax return, How to lodge and deductions
If you’re about to embark on a ride-sourcing side hustle, or have already started one, then you might be wondering how you can keep your Uber driver tax return right without getting on the wrong side of the ATO. Uber makes it clear that its drivers are not employees or...
Family trust advantages and disadvantages
Even though discretionary trusts are more complex compared to other business models, it’s a popular option for those looking for flexibility, asset protection and control in their family business. In this article, we’ll go through the benefits and drawbacks of discretionary trusts to help you understand why they’re often suitable...