Setting up an Australian Taxation Office (ATO) payment plan is a practical way for small businesses and individuals to manage tax debts they cannot pay in a lump sum. If you find yourself with a tax debt, you’re not alone—many businesses experience this at some point. The good news is, the Australian Taxation Office (ATO)…
Month: August 2025
The Benefits of Consolidating Your Super: Save on Fees and Grow Your Balance
Consolidating super accounts can feel overwhelming when you’re already managing the day-to-day operations of your small business. Understanding how multiple super accounts affect your retirement savings is crucial, as paying fees across several accounts can significantly reduce your super balance over time.This comprehensive guide explains everything you need to know about super consolidation, from finding…
Stage 3 Tax Cuts: What Australian Small Businesses Should Know for Payroll and Bookkeeping Adjustments
Stage 3 tax cuts are now law, and they come into effect on 1 July 2024, reshaping pay packets and paperwork for small businesses across Australia. This comprehensive guide explains what the new rates mean for your business, why they matter for your payroll and bookkeeping systems, and how to make the transition smooth for…
Understanding the 6-Year Rule: What Small Business Owners Need to Know About CGT and Bookkeeping
For small business owners who own property, knowing how the 6-year rule works with Capital Gains Tax (CGT) and your annual income tax return can make a real difference—both to your tax bill and your peace of mind. Many business owners don’t realise that moving out of their main residence doesn’t always mean they have…
