Small Business Tax

avoid common mistakes in your business tax return

Avoid These Common Mistakes In Your Business Tax Return

By Wen Wen / August 17, 2021

How to avoid common mistakes in your returns We know you want to get your tax right, so it may help you this tax time to know how to avoid making what the ATO has found are the most common tax mistakes. To do this make sure you have: Declared all income, including cash and […]

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The PPSR is a national register of security interests in personal property.

PPSR (What Is It And How Does It Work?)

By Wen Wen / December 10, 2019

If you’re in business, you need to know about the PPSR … Many businesses can take a simple step to better manage the risk that can attach to certain assets. A few years ago saw the introduction of a new scheme, which also established a national register, that could affect anyone who answers “yes” to […]

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An overview on motor vehicle expense claims - image

An Overview On Motor Vehicle Expense Claims

By Wen Wen / February 28, 2019

Tax deductions for claiming motor vehicle expenses A perennial topic regarding tax deductions is claiming expenses for a car. The following notes summarise the most salient points when it comes to claiming a deduction for motor vehicle expenses. Of course, every person’s circumstances may be different, but the following covers most of the relevant information. […]

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Tax obligations for franchising a business - image

Tax Obligations Of A Franchised Business

By Wen Wen / May 18, 2018

Franchisees need to know how much tax to pay Why you need to know your tax obligations for a franchised business The Australian Competition & Consumer Commission (ACCC) is the government body responsible for enforcing the Franchising Code of Conduct, and if you or someone you know are considering entering into a franchise arrangement, this […]

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Tips For Claiming For Gumtree Or Facebook Group Sourced Assets

By Wen Wen / April 18, 2017

Business expense deduction claims A recent case before the Administrative Appeals Tribunal (AAT) shed light on a growing phenomenon that you should keep in mind for work-related or business expense deduction claims. This case involved a business purchase on Gumtree. Case study of an engineer who purchased business related tools on Gumtree The case involved […]

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Fringe Benefits Tax Updates 2016

By Wen Wen / March 2, 2016

The Fringe Benefit Tax Year ends on 31 March 2016 …  If you allow a staff member to use a work car for private purposes, give one of them a cheap loan, reimburse another for a private expense, such as school fees, or generally provide entertainment or recreation – you may be up for fringe benefits […]

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