Tax

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PAYG, trusts and fringe benefits tax: The ATO’s small business crackdown

7:51PM | Tuesday, 16 July 2013 | Patrick Stafford

The Tax Office has small business square in its sights this year, with PAYG obligations, trusts, profit shifting, eCommerce and the construction and building industries all marked for extra compliance monitoring during the 2013-14 financial year.

Goodbye carbon tax, hello ETS: What it means for your business

7:16PM | Monday, 15 July 2013 | Myriam Robin

If the Rudd government is re-elected to another term this year, it will legislate a move from the carbon tax to an emissions trading scheme effective from July next year, the government announced on the weekend.

Five quick tips and mistakes to avoid with cloud accounting

7:10PM | Monday, 8 July 2013 | Rose Powell

With a new book, XERO for Dummies, out on the market, Heather Smith is a big believer in cloud accounting, especially for business owners who aren’t comfortable with their financial literacy.

Small businesses not ready at tax time and struggle with excessive legislation, accountants say

6:39PM | Wednesday, 26 June 2013 | Rose Powell

According to research by the Institute of Public Accountants (IPA) and accounting software firm MYOB, 98% say their clients were not fully prepared for when they submit their end of financial year statements.

The 10 biggest issues facing start-ups in 2013: #3 Dealing with the ATO

6:10PM | Friday, 21 June 2013 | Gunilla Haglundh

In the latest of a 10-part series looking at the challenges start-ups face in 2013, we examine the taxman. Many start-ups struggle meeting all their obligations under tax law.

Four key questions for the end of the financial year

6:21PM | Wednesday, 19 June 2013 | Amanda Jesnoewski

The end of the financial year is an opportune time to think about the big picture of your business. Here are four questions that can help ensure the next year is your most successful one yet.

Cloud accounting could be key to cashflow and growth, says tax expert

6:30AM | Wednesday, 19 June 2013 | Rose Powell

Small businesses and sole traders could halve the time they spend managing their financials and focus on growth and innovation if they embraced cloud accounting software systems, a tax specialist from advisory firm BDO says.

Small business owners struggling with tax and at risk of major fines

6:09PM | Tuesday, 18 June 2013 | Rose Powell

Small business owners are running serious financial risks due to knowledge gaps about tax, new research has found.

Payroll tax fight in South Australia after state budget announcement

6:41PM | Thursday, 6 June 2013 | Patrick Stafford

The South Australian business community welcomed yesterday's announcement that companies in the state will receive a discount on their payroll tax rates – but have criticised the temporary nature of the relief.

The big mistakes small businesses should avoid when doing their taxes

6:58PM | Thursday, 6 June 2013 | Brad Callaughan

June 30 is approaching fast. Here are some common mistakes you need to keep an eye out for when you do your taxes.

Employee share scheme tax systems set for an update

6:25PM | Wednesday, 5 June 2013 | Rose Powell

The federal government is set to consult with Australian industry over the tax treatment of employee share option schemes, which start-ups say needs to be overhauled to promote growth.

Queensland businesses slam payroll tax relief delay, but South Australia steps up

6:58PM | Wednesday, 5 June 2013 | Patrick Stafford

The Queensland business community is gutted over the state government's decision to delay raising the payroll tax threshold until 2015, as part of the new state budget released yesterday.

Australian businesses slugged with eighth highest tax rate: Study

5:15PM | Tuesday, 28 May 2013 | Cara Waters

Australia recorded the eighth highest business tax rate in a recent 26 country comparison study.

Federal budget 2013: The start-up winners and losers

5:24AM | Wednesday, 15 May 2013 | Oliver Milman

In a budget where there was very little to excite businesses of any size, let alone start-ups, it’s hard to see how any entrepreneur will be in tears of either joy or despair this morning.

Federal budget 2013: Small business relieved to escape the Treasurer’s axe

5:53AM | Wednesday, 15 May 2013 | Cara Waters

Small and medium-sized businesses are relieved to have escaped the worst of the cuts in last night’s budget.

Start-ups issued warning over Australian Business Number crackdown

5:44AM | Wednesday, 15 May 2013 | Michelle Hammond

Start-ups could face fines in excess of $10,000 if they make false or misleading statements when applying for an Australian Business Number, after the tax office received special funding in the 2013 federal budget for a crackdown.

Federal budget 2013: A sector-by-sector guide

5:36AM | Wednesday, 15 May 2013 | Patrick Stafford

How did your sector do in the 2013 federal budget? It’s time to take a look.

Federal budget 2013: Little to celebrate for start-ups in Swan’s farewell budget

5:53AM | Wednesday, 15 May 2013 | Brad Callaughan

Last night Labor handed down its latest (and quite possibly last) federal budget. Here’s a look at some of the highlights and lowlights it contains for start-ups.

Federal budget 2013: Skills centres get the chop but rural start-ups to get apprentices boost

5:49PM | Tuesday, 14 May 2013 | Oliver Milman

The government will effectively scrap its Australian Skills Centres of Excellence program before it even launches, while ploughing more cash into helping regional businesses find apprentices.

Federal budget 2013: Start-ups hit by business naming fee hike

5:54PM | Tuesday, 14 May 2013 | Oliver Milman

Start-ups are to be hit by an increase in the cost of registering a business name, with the corporate regulator hiking fees to $32 for one year and $74 for three years.

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