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’...
Category: Accounting
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....
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,...
What is a Business Activity Statement?
Mention the word Business Activity Statement to most business owners and they often look as though they’ve just been told their biggest client has gone off with their closest competitor. However, the reality of BAS is that it can actually result in you getting money back from the ATO (yes...
How to Prepare Taxes for Small Business
Tax can be one of the trickiest things to get your head round when running or starting a new business. But it is especially important to understand your tax responsibilities as a small business, as well as budgeting for tax you owe. Whether you're starting out of have been in...