How to Avoid Tax Shocks

Effectively managing your tax affairs can help avoid tax shocks. Australia’s income tax system is based on self-assessment. This means that information you provide to the ATO is initially accepted as being true and correct when you lodge your tax return and...

Things to do before June 30

The end of the financial year is fast approaching and there are a range of taxation issues that businesses have to consider. It is important that you are aware of these issues and get everything in order before 30 June 2015. ATO tax obligations Take care of any ATO...

SMSF: Are You a Disqualified Person?

The Commissioner of Taxation recently released the annual report for 2013-14 which highlighted an alarming increase in the number of Self Managed Super Fund (SMSF) trustees that were declared disqualified persons by the ATO. A disqualified person is prohibited from...

Update your Accounting System

Cash flow management is one of the most important aspects in running a business. The right accounting system assists in cash flow management, however, many small business owners still use an Excel spreadsheet to monitor financial performance and don’t utilise the...