Blog
Helping you reduce tax, protect your interests, and grow your income as professional business advisors and accountants.
PREPARING YOUR BAS – IMPORTANT CONSIDERATIONS
Businesses registered for GST must lodge business activity statements (BAS) every year with the ATO. To assist you, here is a record-keeping and submission checklist you can follow to help when you’re lodging and preparing your BAS accurately and on time. Preparing Your BAS – A Simple Checklist You must lodge and pay your BAS
Seasonal Pricing Strategy
A seasonal pricing strategy will help you minimise loss of cash flow in low periods and maximise profitability in peak seasons. Changing your pricing will help you capitalise on your target market’s spending habits. Keep in mind that creating a supporting marketing campaign to bring awareness to your price change or seasonal deals will be
SMALL BUSINESS TAX CHANGES FOR THE 2018 FINANCIAL YEAR
With the lead up to June 30, many business owners are busy tying up their tax affairs. During this time it can be easy to lose sight of other business issues, especially legislative, compliance and small business tax changes changes that have taken place at the start of the new financial year. Small Business Tax
Avoiding misleading or false claims
When it comes to your advertising, don’t let your small business get caught out making false or misleading claims. The Australian Competition and Consumer Commission (ACCC) has recently exercised its power to enforce on false advertising laws. Read here to learn why you should avoid misleading and false claims in business. The ACCC has issued penalties
Dealing with conflicts of interest
Although conflicts of interest are not uncommon in the workplace, they can be harmful to a business if they are not appropriately managed. Is dealing with conflicts of interest important? A conflict of interest exists when an employee’s private interests interfere with their performance of their duties. For example, it may give them a personal
ATO eases stance on income tax penalties
The Australian Tax Office (ATO) has changed the way penalty relief is applied to certain taxpayers as of 1 July 2018. The Tax Office will no longer apply a penalty to tax returns and activity statements where eligible individuals and entities have made an inadvertent error by failing to take reasonable care or have not