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As a small business owner, the more you can automate tasks, stay organized, and streamline your processes, the more efficient and productive your business will become.

Recently the ATO has announced that it has been cracking down on the profits made from cryptocurrency investing and trading. This along with the growth in popularity of Bitcoin and other cryptocurrencies as an investment choice mean we need to consider the tax impact of trading and investing in these products.

We often receive queries about our personal tax return process and what various expenses you can claim as deductions, so we've compiled some of the most frequently asked questions for you.

The internet has become a space riddled with malicious links, trojans and viruses. Data breaches are becoming more frequent, and unsuspecting users are more vulnerable than ever before, with financial information being scammers' biggest target.

Don’t get caught out – here are the due dates for income tax returns, activity statements, superannuation contributions and STP reporting.

The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term.

With the end of financial year approaching quickly, now is the time to discuss with us the actions you can take before 30 June 2021 to minimise your tax and grow your wealth.

On 31 March 2021, the Fringe Benefits Tax (FBT) year ends. With the ever increasing budget deficits as a result of COVID-19, the ATO will be reviewing whether all employers who should be paying FBT are paying it, and that they are paying the right amount.

On 13 September 2020, the Victorian Government announced the Small Business Digital Adaptation Program, to help Victorian sole traders, micro and small businesses adapt to a digital operating environment.

Accounting is a necessary and important part of running a small business, and it's important to understand the vocabulary used when managing your books.

Recently we’ve been focussing on asset protection and estate planning for all of our clients. A key part of that is to ensure that you maintain control of any companies you are a Director of if you are incapacitated in any way, or if you die.

With changing law and changing technology, it is important that a company's founding document – its Constitution – continues to be compliant, meets the requirements of its daily activities and is written in plain language.

By comparison to many, Australia has managed the COVID-19 pandemic well, but good management isn't enough to protect us from the $213.7 billion deficit in 2020-21. The Government has taken to heart the old adage, "You have to spend money to make money" to trade our way out of a black hole.

While working from home may be a dream for some, switching from a structured office environment to the comfort of your own home can be challenging in surprising ways. Learning how to work from home is important if you want to be efficient and effective at your job, so we've compiled some tips to help you stay productive while working from home.

No matter the size, industry or successfulness of your business, you need a bookkeeper to manage your financial accounts. Beyond the convenience of managing day-to-day finances, a good bookkeeper keeps your business on track and gives you visibility over your business’ cash flow.

Don't get caught out - here are the due dates for income tax returns, activity statements, superannuation contributions and STP reporting.

This has probably been the most difficult year ever for business owners due to the impact of COVID-19. This makes Tax Planning for 2020 and key actions before 30 June more important this year than for any previous year.

With the ATO looking more diligently than ever at work-related deductions, it's vital to understand exactly what expenses you can claim. Travel expenses are often contentious - read on for more information on what expenses you can claim, and what evidence you need to keep to claim them.

As a business owner, there’s one key thing you need to totally focus on now – keeping your business alive during these difficult times. It’s not all doom and gloom either – withstanding the tough times sets a business up to be a fast turning cash flow business when everything bounces back in a positive way in the future.

With the end of the Fringe Benefits Tax (FBT) year looming on 31 March, businesses are being urged to review their FBT position.

The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws.

Staying on top of cash flow is critical for every business and the biggest cause of cash flow issues are late payments. An Australian Small Business and Family Enterprise Ombudsman Inquiry revealed that more than 40% of small businesses spend over 12 days each year chasing unpaid invoices. This means that payment delays can impact your business’...

After the Royal Commission, banks are restricted with their lending abilities, so don't expect to get finance approved simply because you have in the past. There's some fairly strict criteria you have to meet, so if you contact us in the early stages of applying, we can help you ensure that you'll meet them.

Growing your business means more cash for you now plus a higher sale price in the future when you decide to eventually sell your business. To do this, you can increase your customers, find new markets, develop new products or services, and improve profit.

As a trustee of a self-managed super fund (SMSF), you are ultimately responsible for your own retirement savings and as part of this, you as trustees are required to consider how you manage your fund assets. As such, you are required to regularly review your fund's investment strategy.

When hiring a new worker, you must check if they will be an employee or contractor for tax purposes. It will affect your tax, super and other obligations and penalties may apply if you get it wrong.

If you use your own car in performing your work-related duties, you may be able to claim a tax deduction for car expenses. However, many people claim more than they're entitled to, or less, because they aren't sure of what they're allowed to claim.

The ATO has been releasing helpful factsheets to help taxpayers avoid various mistakes when lodging their tax returns. Below is a list adapted from the ATO of 10 tips to abide by to save you time and money when preparing your rental property information for your returns.

Don't get caught out - here are the due dates for income tax returns, activity statements, superannuation contributions and PAYG summaries

The correct business structure is essential for business improvement, tax minimisation, wealth creation and asset protection. Broadly, asset protection entails minimising your exposure to risks so that you may be able to protect or quarantine assets to reduce the damage if someone were to make a claim of some sort against you or your business.