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.
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.
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.
The postal sector could be revamped if recommendations for a new report are acted upon by the government.
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.
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.
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.
Company directors are being advised to pay tax debts sooner rather than later.
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.
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.
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.
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.
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.
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.
Western Australia's mineral riches are keeping it ahead of the pack.
The Australian Taxation Office has released its 2012/13 compliance program, with information for individuals and micro enterprises, prompting another warning about sham contracting.
The carbon tax is here, along with the opportunity to slash your tax bill by becoming more energy efficient. Here are five great ways to slash your energy bills, along with your carbon footprint. BY OLIVER MILMAN.
Bakery franchise Brumby’s has been caught red-handed attempting to blame price rises on the carbon tax, after a letter sent by the company to franchisees was leaked.
Getting your head around all the new financial year legal changes can be a struggle. To make it easier for you, we’ve compiled the 10 biggest changes you must know about this year. BY OLIVER MILMAN.
A new study shows Australia is a relatively low taxing country compared to other countries, but an expert says this highlights a “double-edged sword” in maximising the benefits of lower taxes.