Tax

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Gillard urged to help create 'Silicon Beach' for Australian tech businesses

10:38AM | Monday, 8 October 2012 | Oliver Milman

The tech sector has told the Federal Government that regulations need to change if Australia wants to have its own Silicon Valley.

Tax watchdog calls for improvements to ATO’s audit processes

10:54PM | Friday, 5 October 2012 | Michelle Hammond

The tax watchdog wants the Tax Office to improve its audit processes, after the ATO wrongly investigated almost 6,000 small business owners as part of a crackdown on the cash economy.

Time and cost of red tape on small businesses spiralling: Report

10:23PM | Friday, 5 October 2012 | Oliver Milman

Nearly three quarters of Australian small businesses spend longer complying with regulations than they did two years ago, according to a new study.

Taxes grind Bean Bar into liquidation as franchisees continue brewing

9:52PM | Friday, 28 September 2012 | Cara Waters

A liquidator has been appointed to the company behind the Bean Bar coffee shop franchise.

Time and cost of tax compliance has ballooned since 1995: Report

9:40PM | Thursday, 20 September 2012 | Michelle Hammond

Australia’s tax system has been labelled too complex, after a new report revealed the time spent on tax compliance has increased fourfold in 17 years.

Start-ups tipped to benefit as R&D tax credits switch to quarterly basis

9:48PM | Thursday, 13 September 2012 | Michelle Hammond

The introduction of a quarterly credits system for the R&D Tax Incentive will “vastly enhance” start-ups’ ability to fund their research and development activities, according to a specialist advisory service.

Start-ups urged to prioritise debt reduction with tax return cash

9:03PM | Monday, 10 September 2012 | Michelle Hammond

A tax expert has offered some advice on how start-ups can utilise their tax refunds, after a survey revealed more than a third of Australians intend to put their refunds into savings.

Five ways the GST threshold report recommends changing the postal sector

9:51PM | Monday, 10 September 2012 | Patrick Stafford

The postal sector could be revamped if recommendations for a new report are acted upon by the government.

Retailers call for government to act on parcel-processing findings

9:52PM | Friday, 7 September 2012 | Michelle Hammond

A major retail body is calling for action based on the findings of a report into parcel processing procedures, but the Federal Government and the Coalition continue to distance themselves from the issue.

Start-ups warned over staff equity tax drawback

8:16PM | Wednesday, 29 August 2012 | Michelle Hammond

An expert has issued some advice to start-ups who plan to offer stock options to employees, after players in the technology industry highlighted the drawbacks of Employee Share Option Plans.

ATO watchman flags review of audit “risk engines”

8:30PM | Monday, 20 August 2012 | Michelle Hammond

Small businesses have been urged to keep on top of their tax record keeping, after the Inspector-General of Taxation raised concerns about the way taxpayers are selected for audits.

Directors still bear burden of proof in tax liability laws after new draft of bill

8:33PM | Thursday, 16 August 2012 | Patrick Stafford

Company directors are being advised to pay tax debts sooner rather than later.

Tax incentives under spotlight in company tax rate review

8:29PM | Monday, 13 August 2012 | Michelle Hammond

Cutting the company tax rate to 25% would cost the Federal Budget $26 billion in revenue over four years, according to the Business Tax Working Group, which today released a discussion paper.

Start-ups warned over ponderous R&D refunds

8:21PM | Monday, 13 August 2012 | Michelle Hammond

An expert has issued a warning to start-ups relying on R&D claims as a form of cashflow, amid reports of lengthy payment times, saying it all comes down to responsible money management.

Travelling IT contractors warned over ATO scrutiny

8:00AM | Wednesday, 8 August 2012 | Michelle Hammond

A tax expert has issued a warning to “on call” home-based IT professionals, after the Australian Taxation Office confirmed it will place greater scrutiny on claims made by IT workers.

Start-ups urged to be wary of tax-free threshold “trap”

8:59PM | Monday, 6 August 2012 | Michelle Hammond

Entrepreneurs who operate a business part-time could be hit by changes to the tax-free threshold, with an expert warning anyone with more than one income source could be caught in a tax trap.

What’s your business worth?

8:10PM | Wednesday, 1 August 2012 | Greg Hayes

Keeping in mind the potential value of your business will help you stay on track to building a business that can be sold for a good price. BY GREG HAYES.

How do you keep the taxman at bay if you run a cash business?

7:00PM | Thursday, 26 July 2012 | Brad Callaughan

The ATO looks for businesses operating outside sector averages. If you order $100,000 worth of goods and only record $10,000 in sales, expect the taxman to ask questions.

Data underlines Australia's two-speed economy

7:40PM | Monday, 23 July 2012 | James Thomson

Western Australia's mineral riches are keeping it ahead of the pack.

ATO highlights focus areas for 2012/13: Sham contracting high on its list

7:36PM | Thursday, 19 July 2012 | Michelle Hammond

The Australian Taxation Office has released its 2012/13 compliance program, with information for individuals and micro enterprises, prompting another warning about sham contracting.

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