Are you across the new software guidance AusIndustry released to assist R&D applicants?

Posted by Michael Derin on 05-Mar-2019 11:52:46



On 21 February 2019, AusIndustry released new software guidance documents: “Software Activities and the R&D Tax Incentive” and a “Guide to Common Errors”.

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Topics: Tech Business, ATO, r&d, Technology Business, AusIndustry

Small business? Here’s what the Accelerated Tax Rate Reduction means.

Posted by Tanya Moran on 21-Feb-2019 08:20:05



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.

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Topics: ATO, small business, corporate tax, SME tax rates, taxation

Challenges Foreign Companies face when Setting up Business in Australia

Posted by Michael Derin on 18-Jan-2019 08:49:54



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.

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Topics: Azure Group News, ATO, international business, Starting business in Australia, strategic advisor, international tax, business strategy

ATO SCAM ALERT: Don't get caught paying fake Debts

Posted by Azure Group on 29-Nov-2018 10:48:38



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. 

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Topics: Azure Group News, ATO, Australian Taxation Office, ATO audit, scammers, scam, alert

We asked Lawpath how your obligations differ depending on which Business Structure you choose

Posted by Azure Group on 12-Nov-2018 10:07:49

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.

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Topics: Azure Group News, ATO, Trusts, Business structure, tax obligations, sole trader, LawPath, legal obligations

Four painless ways to make your Tax Debt go away

Posted by Tanya Moran on 27-Sep-2018 09:44:29



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).

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Topics: Azure Group News, ATO, Tax, Australian Taxation Office, tax debt, Tax professionals, Small Business Accounting, tax obligations, taxation

Strange but legitimate Tax Deductions

Posted by Tanya Moran on 03-Aug-2018 08:23:52

 

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.

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Topics: Azure Group News, ATO, claiming tax, Tax deductions, lodgment

Ignoring your Fringe Benefits Tax (FBT) obligation could trigger an ATO Tax Audit

Posted by Tanya Moran on 13-Jul-2018 08:45:50

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.

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Topics: Azure Group News, ATO, Fringe Benefits Tax, audit, auditor, Sydney Accountants, FBT, tax audit, ATO audit

Division 7A: 4 common errors

Posted by Tanya Moran on 28-May-2018 07:00:00

 

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.

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Topics: ATO, Tax return, Company tax return, Lodgement, Division7A, Tax Act

How to negotiate your Tax Debt with the ATO?

Posted by Tanya Moran on 11-May-2018 15:28:11

 

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

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Topics: ATO, small business, Business accountants, GST, BAS, withholding tax, tax debt, director penalty notice, Company Director