Australia’s small businesses are the power behind our economy. Small businesses (employing less than 20 people) added nearly $590 billion of value in 2022, making up around a third of all Australian gross domestic product (GDP) for the period.
But keeping on top of your financial management, accounting, and tax planning can be a major challenge for some owners.
With this in mind, the ATO has set up a new advice portal for small business owners, giving you tips and advice on everything you need to know about your finances and business taxes. Strengthen Your Small Business
Essentials to Strengthen Your Small Business
The ATO’s Essentials to Strengthen your Small Business portal is your first stop for business advice. There are helpful tips covering everything from having your first business idea, through to founding a startup, growing a business and even help on exiting the business.