The Australian Tax Office hotspots 2019 – do they apply to you?

Byline: Mark Chapman, the Director of Tax Communications at H&R Block. Every Tax Time, the ATO focusses on certain hotspots where taxpayers are prone – either accidentally or deliberately – to make errors. These are the areas it will concentrate its audit firepower on and for those who have made claims in areas which the… Continue reading The Australian Tax Office hotspots 2019 – do they apply to you?

Change afoot for credit card interchange: what the new rates mean for small business

Australians will feel the impact of the upcoming new credit card interchange regulations — we’re a nation of points junkies with 11 million Qantas Frequent Flyers * alone. But while everyone’s thinking about how the reverberations of these changes affect consumers, it’s easy to forget that new interchange rates raise a number of big questions… Continue reading Change afoot for credit card interchange: what the new rates mean for small business

Is it time to outsource parts of your start-up?

Is your start-up gaining momentum to the point that work is piling up and your small team is struggling to keep up? Outsourcing a few tasks might be just what your team needs to concentrate on their field of expertise and achieve the best possible results. Deciding what to outsource might be one of the key decisions you’ll make… Continue reading Is it time to outsource parts of your start-up?

5 bookkeeping habits entrepreneurs should adopt

What do all successful businesses have in common? They’ve managed their finances effectively with good bookkeeping habits. Every business – no matter its size – needs an organised financial recording system to keep track of its expenses. Adopt these 5 bookkeeping habits to stay on top of your business’s finances. Invest In the Right Software… Continue reading 5 bookkeeping habits entrepreneurs should adopt

When it comes to accounting, it increasingly makes sense to have your head in the cloud

There are many options out there for sole traders and SMEs when it comes to managing business invoicing and accounting. The first solutions people tend to turn to are the reliable classics: Word and Excel. While these offer some snazzy invoice templates, they may be a bit harder and more time consuming to work with… Continue reading When it comes to accounting, it increasingly makes sense to have your head in the cloud

How start-ups can accelerate growth

Startups and small businesses play a vital role in Australia’s economy. According to the Australian Bureau of Statistics, SMBs make up 96 per cent of all Australian businesses. As a former small business owner and now an executive who works closely with startups and small businesses, it’s been encouraging to see the Government support Australia’s… Continue reading How start-ups can accelerate growth

Are small businesses using ATO as bank?

According to national SME finance specialist, Scottish Pacific, many small businesses may be using the Australian Tax Office (ATO) as a line of credit being unaware of alternative funding solutions. Scottish Pacific CEO, Peter Langham said the ATO was owed $35.3 billion in 2013-14 according to a recent report by the Inspector-General of Taxation. “It… Continue reading Are small businesses using ATO as bank?

Piece of advice on ATO payment arrangements

Part of our role as small business accountants is to act as a barrier or intermediary between the tax office and the small businesses of Australia. It’s not that we don’t trust the two different interests to get along but it’s more about using our experience and knowledge to protect the best interests of the… Continue reading Piece of advice on ATO payment arrangements