9 Tax Saving Hacks that Small Business Owners often miss

Posted by Tanya Moran on 16-Oct-2018 07:49:06























The 2018-2019 tax year is well under way. Small business owners know that cash flow is often a major worry and stress. Living on tight margins, every penny counts. So make sure you aren’t paying more tax than you need to!

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Topics: Tax, small business, Australian Taxation Office, Tax professionals, Small Business Accounting, taxation

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: ATO, Tax, Australian Taxation Office, tax debt, Tax professionals, Small Business Accounting, tax obligations, taxation

Payroll Tax: Is your Business over the Threshold?

Posted by Kelly Morgan on 29-Apr-2018 07:00:00

If you own a business that employs people then you need to know about payroll tax. This is a self-assessed State and Territory based tax imposed on businesses in Australia. The tax is payable when the total wages paid or owed to employees exceeds a threshold. 

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Topics: Tax, small business, Tax return, ABN, Payroll tax, Threshold, Lodgement, State Tax, taxation, Accounting

Have you seen the ATO’s Tax InVoice service?

Posted by Tanya Moran on 19-Mar-2018 07:00:00

The ATO are leading the charge with embracing new technology and reaching consumers with the recent release of their official podcast channel. A clever play on words, it is aptly named Tax InVoice. The ATO is being proactive and finding a more modern medium to educate and engage with Australian tax payers.

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Topics: ATO, Superannuation, Tax, tax invoice, APRA, Australian Taxation Office

Common GST Slip Ups

Posted by Kelly Morgan on 10-Mar-2018 11:53:00

With tax time just around the corner it is a good timing to review your GST status. There are some common GST slip ups that you need to be aware of.

1. Make sure you are actually in business!

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Topics: Azure Group News, ATO, Tax, management, income, Business accountants, GST, bookkeeping, BAS

Recouping Tax Losses for Innovation

Posted by Michael Derin on 12-Sep-2017 10:52:13


A draft law developed by the ATO is set to make changes to an existing ruling that will now cover innovation for companies. This new law will allow companies to recoup tax losses for carrying on a business against income derived from a similar business following a change in ownership or control, even if the business is significantly different because of innovative changes.

While there were previous laws that allowed this, they didn’t include innovation, so this is a real win for this sector!

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Topics: Tech Business, ATO, Tax, innovation

Tax incentive for Early Stage Innovation Companies

Posted by Michael Derin on 11-Jul-2017 12:04:20

As you’re probably aware, certain investments into a qualifying Early Stage Innovation Company (ESIC) from 1 July 2016 may entitle a taxpayer to tax incentives including a non-refundable tax offset equal to 20% of the investment (up to a $200,000 limit each income year for “sophisticated investors”) as well as capital gain tax exemption on shares held between 1 and 10 years.

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Topics: Tech Business, ATO, Tax, innovation, Investor

Understanding Capital Gains Tax

Posted by Tanya Moran on 30-May-2017 10:00:08

You have an asset that has increased in value and you are feeling pretty proud of your great investment result. But before you start celebrating your windfall it is best to understand the tax implications. That’s right, the tax man doesn’t just want to tax your income, but also profits from the sale of an asset. Keeping that in mind, if you understand what your obligations are you can ensure that you maximise on your profits and reduce your tax liability as much as possible.

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Topics: ATO, Tax

Our Top 4 Tips on Taking Control of your ATO debt

Posted by Tanya Moran on 30-May-2017 08:40:53


The Australian Taxation Office (ATO) is owed more than $35 billion dollars, making it Australia’s largest creditor for most businesses and individuals. What is most concerning is that this is rising at a rate of just under 10% each year.

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Topics: Business Growth & Cashflow, ATO, Tax

R&D Planning

Posted by Jack Qi on 26-May-2017 09:14:24

Research and development ("R&D") can provide valuable information and guidance for growing a business. Defining a businesses target market, identifying the customers needs and then developing new products and services that fit these customer needs. Research and development is of particular importance to innovation within a business, and plays a critical role in the innovation process. It provides an understanding of technology investment requirements now and in the future to produce new products, processes and services. 

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Topics: Tech Business, Tax, r&d

How to avoid stress at Tax Time!

Posted by Tanya Moran on 24-Apr-2017 10:00:00


Does the mention of June 30 instantly make you feel stressed? Do you dread the end of the tax year because you know that it will cause you a mountain of work? With the right tax planning, it doesn’t have to be that way! 

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Topics: SME, Tech Business, Startups, Tax, management

Tax incentives for early stage investors

Posted by Jack Qi on 27-May-2016 14:25:31

Law now passed by Senate and will start on 1 July 2016

On 4th May the government’s Tax Incentives for Early Stage Investors passed the Senate and is now confirmed to start on 1 July.

There is a lot of buzz in the Australian tech sector around the tax incentives for early stage investors. Overall the incentives are met with a warm reception – with some seeing this as proof that the government is finally throwing its support behind our tech scene which has traditionally lagged behind the more established regions like San Francisco, Austin and Israel. Others, however, have criticised its requirements which can potentially lock out companies still regarded by many as fitting the profile of a “typical” startup. Furthermore, an unintended consequence has been created a temporary investor drought due to its start date of 1 July 2016.

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Topics: Tech Business, Startups, Tax, innovation