The ATO claims that it is committed to supporting small businesses and making it as easy as possible for them to understand and meet their tax obligations at tax time. Consequently, Assistant Commissioner Mathew Umina has some tips to help … Read More
In our Blog article 21 Steps to Eliminate Frustration In Your Business we’ve posed 21 questions to help you think about where you’re at in your business right now, and they were ‘hand-on-your-heart’ questions, I admit that. You see, often … Read More
Tradies and small business owners go through different business cycles and growth phases. There could be external factors that are influencing this for you. More often than not though, it’s the strategic decisions that you take which determine the success … Read More
If you’ve ever wondered which, if any, penalties, fines or interest could be tax deductible, here’s the latest on this topic. Outlined below are the general rules applying to business owners, employees, investors and retirees. Penalties or fines imposed as … Read More
The ATO have confirmed that even when a vehicle is only registered in their spouses name a taxpayer is still considered to be the joint owner or lessee of the motor vehicle and eligible to claim expenses. This means where … Read More
Some employees need to transport heavy or bulky equipment to and from their work place each day to perform their job. This is often the case with engineers, plumbers, electricians, builders, mechanics, defence force members, musicians and medical practitioners, etc. … Read More
In a typical husband and wife partnership, one partner is qualified (for example an electrician) and produces the partnership income and the other partner may be involved in administration for the partnership. Profits from the partnership are normally split 50/50 … Read More