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Easier GST reporting for new small businesses

The ATO has notified taxpayers that, from 19 January 2017, newly registered small businesses have the option to report less GST information on their business activity statement (BAS) .Therefore, if you plan to register for GST after receiving this Update,…

Deductibility of expenditure on a commercial website

The ATO has released a public taxation ruling covering the ATO’s views on the deductibility of expenditure incurred in acquiring, developing, maintaining or modifying a website for use in the carrying on of a business. Importantly, if the expenditure is…

Can a UPE be written off and claimed as a bad debt?

Editor: A ‘UPE’ (or ‘unpaid present entitlement’) arises where a trust makes a beneficiary entitled to an amount of the trust’s income (and therefore the beneficiary may have to pay tax on their share of the trust’s taxable income that year),…

Changes to the ‘backpacker tax’

From 1 January 2017, tax rates changed for working holiday makers who are in Australia on a 417 or 462 visa (these rates are known as ‘working holiday maker tax rates’). If a business employs a working holiday maker in…

Work Life Balance – Getting It Right When You Work From Home

Many people dream about working from home. These days with virtual assistants and remote access to computers and lots of stay at home entrepreneurs, it’s more common than you think – and achievable. Work From Home If you have been…

Achieving Your Business Goals

Tо achieve аnу goals оr tаѕks ѕuссеѕѕfullу, thе first thing thаt you muѕt hаvе іѕ a plan. A successful business starts with a business plan, аnd thіѕ wіll be a vаluаblе аіd to help yоu tо асhіеvе уоur gоаlѕ. Your…