On 21 February 2019, AusIndustry released new software guidance documents: “Software Activities and the R&D Tax Incentive” and a “Guide to Common Errors”.
Remember when the tax rate for all companies was 30%? Well since 2015 this rate has been slowing dropping. Here is what you need to know about the accelerated tax rate reduction and how it affects your business.
Australia is an attractive market to set up a business. Ranked third in the Asia Pacific region for overall competitiveness, and world wide for countries with a population over 20 million, it comes second to the United States. However, there are a number of considerations when choosing how to enter the Australian market.
Tax time may be over, but some scammers are just getting started. Stay vigilant and warn your friends, family and clients so they don’t get tricked into paying a fake debt.
You are all set to make your great startup idea reality. Your plans are rolled out, and you are raring to go. This is the stage at which you need to consider what business structure you are going to adopt.
Your business structure can make or break your startup. To help you consider your options, we asked Lawpath what they thought?
LawPath is Australia’s leading provider of online legal services for businesses and individuals, providing technology powered legal solutions at a fraction of the time, cost and complexity of the traditional system.
Setting up a new business can be a daunting task, and it is important that you understand the implications of the business structure you choose. Not only will you require different documents, but you’ll also have different obligations to the relevant government agencies and the ATO.
Having a tax debt can be stressful. But there are proactive things you can do to ensure that you handle your tax debt in a way that will keep you out of hot water with the Australian Taxation Office (ATO).
We know most accountants have a reputation for questioning and sometimes challenging your deductions. But here are a few that you didn’t think you could claim, but are actually legitimate! Just make sure you keep your receipts.
Previously the ATO has not focused its efforts on Fringe Benefits Tax (FBT) and therefore many business owners have put their heads in the sand and ignored it. But this isn’t a great strategy and with the ATO now putting more emphasis in this area it could land you in hot water. Here is what you need to know.
Despite it having been in place for more than 15 years, Division 7A continues to be a high risk area and the Australian Taxation Office (ATO) regularly monitors. Division 7A is part of the Tax Act and it provides provisions to prevent private company owners from avoiding dividend taxation through accessing company profits in other ways other than dividends.
Small businesses need to manage a lot of ‘balls in the air’ and one of them is tax. Between their own income tax as an individual, company tax, GST and tax withheld for employees there is a lot of money that needs to be accounted for. In fact small businesses account for more than 60% of the total debt owning to the ATO. So if you have a tax debt here is what you need to know. #news #ATO #taxdebt