Business groups have welcomed Brendan O’Connor’s appointment as Small Business Minister, but expect the former union official to quickly get to work on meaningful reforms in the sector, especially when it comes to cutting red tape.
The sad reality is we all have to pay the taxman. Thankfully, there are five easy ways for you to legally slash you tax bill and keep more your hard earned cash. BY GREG HAYES.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
What is the GST position where you receive a prepayment and the service is ultimately not delivered? Read on.
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.