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Common tax deductions for small business
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Common tax deductions for small business

There are many expenses common to most small businesses, and there are other expenses that are specific to the nature of the goods or services the business provides. Are you claiming all the tax deductions that you are entitled to? Operating expenses include accounting, administration, advertising and marketing, office premises, office running expenses, trading stock,...

What to Expect from ATO Risk Reviews and Audits
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What to Expect from ATO Risk Reviews and Audits

ATO audits can happen any time to a business, but now with JobKeeper, early release of super and COVID-19 cashflow boost payments, the ATO will be reviewing and auditing a lot more businesses in the future. The ATO will usually conduct a risk review initially, to determine if there are compliance issues that warrant a...

Update to Coronavirus Stimulus Measures – What’s in it for you?
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Update to Coronavirus Stimulus Measures – What’s in it for you?

Following our post covering stimulus measures issued by the government on 12 March, Prime Minister Scott Morrison announced on 22 March further incentives and support for business and households facing difficulties due to the spread of coronavirus. We summarise the key new measures as follows: FEDERAL GOVERNMENT STIMULUS PACKAGE – 22 MARCH 2020 1️⃣ Cashflow Boost...

We’re a Member of the N.R.A (‘R’ is for Retail, not Rifle!)
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We’re a Member of the N.R.A (‘R’ is for Retail, not Rifle!)

Suppose that you work in the retail industry and you have a troublesome competitor taking away your market share. Who can you call to help you with your problem? The NRA, or National Retail Association (not Rifle!) is one such association that exists to support retailers with issues faced in business. The NRA is one...