Today (1 April 2018) is the first milestone date for Single Touch Payroll. Don’t worry if you haven’t done anything about STP up until now as a very large proportion of accountants and business owners have openly said they haven’t either. Let’s get you on track and ticking off your first task which is getting […]
Tax
What you need to know about Single Touch Payroll
I have pleasure of writing this post as I am a member of the ATO’s Single Touch Payroll Readiness Working Group and I am quite passionate about Single Touch Payroll and the benefits it will bring to businesses and their accountants. Single Touch Payroll (STP) is set to change the way just over 100,000 employers report […]
5 steps to success at tax time
Tax compliance is one of the biggest burdens small businesses face – it goes with the territory, but can you lessen the load? It’s a necessary evil, as the day you decide to start your own business is the same day that you sign up to meet a number of obligations with various government […]
Can you use your Profit and Loss Statement to minimise tax?
Now you know what information should be a part of your Profit and Loss Statement, how do you use that information to your advantage? The first insight you can gain from your Profit and Loss Statement begins by simply looking at the bottom line. Did you make a profit or a loss? Are you […]
Get a picture of your profit and loss statement before tax time
A picture can tell a thousand words and your Profit and Loss Statement can hide a wealth of information – if you know where to look. Many business owners know what a Profit and Loss Statement is, but don’t prepare one regularly. Even if they prepare them, they often don’t take a good look […]