When you start a business, there are tax and super responsibilities you need to be aware of, including: - the tax implications of your business structure - whether you're entitled to an ABN - registering your business - records you need to keep - deductions you can claim. Click here for the ATO website.
We often ask our small business clients, "What keeps you awake at night?". Invaribaly they reply, "What will I do if I get sick or want to take a holiday?". Whilst there is no one single answer or solution to this issue, we suggest that if you do nothing else make sure you do the following two things: 1. ensure you have income protection insurance and if you already do, make sure it is up-to-date for your current circumstances; and 2. make sure you have up-to-date business
One of the most common questions we get asked by clients wanting to start their own business is "What business structure should I choose?". If you choose an appropriate business structure you may be able to place yourself in a better position to grow your business without having to deal with changes in legal structure, down the track. Changes to legal structure will involve legal fees and possibly capital gains tax implications. There is no one single answer but we do have a
Trying to get your head around the goods and services tax (GST)? Don't worry your not alone! We have added a short and concise video from the ATO to hopefully assist you. If you still need help please feel free to contact us. Just go to the "CONTACT" tab on our website.