Category Archives: Tax Tips

The Australian Taxation Office’s ‘Small Business Assist’ tool provides answers to small business tax and super questions. It delivers tailored and accurate information sourced from a range of websites. It includes information such as: Registering for an Australian business number Understanding and registering for GST Employer obligations Lodging activity statements Small Business Assist features links

If you are planning to hire new workers, there are a few things to consider and organise in order to meet your tax and super obligations. One thing you must do is make sure your workers are legal – they must be Australian citizens, permanent residents or non-citizens with Australian visas that allow them to

Changes to the Privacy Amendment Act 2012 (Cwlth) commence on 12 March 2014. These changes establish 13 Australian Privacy Principles (APPs), which replace the existing National Privacy Principles. These principles identify the information that must be contained in an organisation’s privacy policy, including: How, what, why and for what purpose the business collects and holds

Taking over an existing business, whether it is buying an established business or taking over the family business requires careful analysis and planning. When buying a business, some aspects to consider include: Why is the business being sold? What is the vendor’s history with the business? Are there any sales patterns or trends? What is

The Personal Property Securities Register (PPSR) is where details of security interests in personal property can be registered and searched. Transitional arrangements have been in place for the last two years. The transitional arrangements for the PPSR expired on 31 January 2014. Suppliers of personal property who failed to register their security interest during the

In the words of the late Kerry Packer: “I am not evading tax in any way, shape or form. Now of course I am minimising my tax and if anybody in this country doesn’t minimise their tax they want their heads read because as a government I can tell you you’re not spending it that

Here are several ways to obtain great ideas for new products: Run informal sessions where groups of customers meet with company engineers and designers to discuss problems, needs and brainstorm potential solutions Allow staff time off to work on pet projects Survey your customers and find out what they like and dislike in your competitor’s

Litigation is in decline in the business community. Alternative forms of dispute resolution are now becoming more popular and, in some circumstances, are mandatory. All family law disputes since 2006, for example, have required compulsory mediation. Mediation is a cost effective avenue for parties in dispute. The process can cost large sums, but the process

In business, ‘groups’ and ‘teams’ are not one and the same. As it can often be difficult to distinguish between the two, management should define and clarify the difference. A ‘work group’ interacts primarily to share information and make decisions to help each member perform within their area of responsibility. The performance of the work

With 30 June 2013 just behind us, these are some strategies that you may find helpful when looking towards 30 June 2014. For most small business owners the end of the financial year requires a review of their operations – not only their tax planning strategies but also their cash flow requirements. Small businesses, defined

Running a business is all about managing risk – most acutely to avoid bankruptcy or insolvency. When providing services or goods to a customer, there is always the possibility that your customer will unexpectedly be unable to pay you according to your agreed trading terms or even leave your debt unpaid. This has been highlighted