Tax

Advice How do I find a good accountant for my business?

In the early stages of a business formation, extra costs need to be considered carefully but it’s safe to say that you’ll need an accountant at some point.

Advice What are the tax pitfalls I should avoid?

Being mindful of the deadlines that are imposed upon you by the Australian Tax Office (ATO) is a simple but effective way of reducing your risk of falling foul of the tax man.

Advice What are the main taxes I have to consider?

The rate of tax you will have to pay as a business will fluctuate from year to year, but there are some basics you will need to be aware of in terms of your liability.

News SMEs suffering from plummeting business confidence: ACCI report

The small business sector is continuing to lose confidence in the economy, according to the Australian Chamber of Commerce and Industry, as it calls for changes to unfair dismissal laws.

News ATO plans crackdown on super-dodging micro employers

The Australian Taxation Office is expecting 12,500 complaints this year about micro employers failing to pay employees’ superannuation, amid proposed laws to crack down on the issue.

News ATO to crackdown on misuse of Personal Services Income

The Australian Taxation Office has issued a strong warning to accountants and clients who filed returns in 2010 under the Personal Services Income provisions, warning them of random audits.

News Tech start-ups lament Labor’s living-away-from-home allowance crackdown

The tech industry says the decision to scrap the living-away-from-home allowance will make it harder to attract overseas talent, as firms become increasingly reliant on skilled foreign workers.

Features Modelling an overly-lean start-up

When Taryn Williams started her modelling agency WINK, she quickly realised her management style wasn’t sustainable if she wanted to be taken seriously. BY MICHELLE HAMMOND.

News Businesses in the dark over tax write-offs as economic pessimism grows

More than a third of small businesses believe Australia’s economy has worsened in the last six months, new research shows, while less than a quarter are unaware of a new tax write-off.

News Small Business Minister Mark Arbib identifies rents and payroll tax as top SME concerns

Newly-appointed Small Business Minister Mark Arbib has downplayed the level of concern among small businesses over the carbon tax, identifying rents and payroll tax as more important.

News No growth for retail in November: ABS

Retail sales remained flat in November, according to the latest figures from the Australian Bureau of Statistics, after increases of 0.2% and 0.3% in October and September respectively.

News Government accused of delaying taskforce help for retailers

A retail group has accused the government of failing to stand up for Australian retailers, after deciding to refer the recommendations of a Productivity Commission report to another taskforce.

News VCs call for UK-style tax breaks to spur start-up market

The Federal Government has been urged to do more to spur start-up investment, following the unveiling of a UK government initiative that gives a huge tax break to venture capitalists.

News Industry groups cast doubt on Labor’s surplus pledge

Industry groups have thrown their support behind the Federal Government’s renewed promise to return the budget to surplus, but have raised doubts over the measures it will use to achieve this.

News Small business allowed to contest ATO benchmarks

Benchmarks developed by the Tax Office for small businesses are a good tool to detect income but are otherwise susceptible to “heavy-handed” use, according to the inspector-general of taxation.

News Labor flags fresh spending cuts in a bid to return the budget to surplus

Treasurer Wayne Swan has announced fresh spending cuts as part of the Federal Budget, including changes to university funding, in a bid to return the national ledger to surplus.

News Labor minister calls for 40% tax rebate for games industry

A local games studio has welcomed a push by Federal Arts Minister Simon Crean to extend a 40% tax rebate to the games sector, saying any government support would be welcomed.

News Business groups up in arms over super levy rise

A leading business group says it’s appalled by the Federal Government’s lack of consultation on lifting compulsory superannuation by 3% from 2013-14, claiming the increase will cost jobs.

News ACCC issues carbon price business guide

The Australian Competition and Consumer Commission has launched a guide for businesses on carbon price practices, urging them to ensure their claims are accurate and can be substantiated.

News Start-ups urged to start planning for carbon pricing

Experts say small businesses should plan early for the carbon tax, which passed through the Senate yesterday, by conditioning customers for price changes and promoting green credentials.

Features Are you paying too much GST?

What is the GST position where you receive a prepayment and the service is ultimately not delivered? Read on.

Features Working out your best assets

Starting up may mean launching your own venture. But it can also involve buying another business. However, be aware that the latter option isn’t hassle-free.

News Liquor store in hot water after carbon tax price hike

The competition watchdog says businesses could be forced to defend any price rises in response to the carbon tax, after a liquor store used the tax to justify a 20% rise in the price of beer.

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