Why every small business needs an ABN becomes crystal clear once the first invoice stalls or a supplier withholds nearly half your pay.We explain what is ABN, how the Australian Business Number builds trust with customers and other businesses, and why keeping your ABN details current shields cash flow. You will learn the bookkeeping gains,…
Category: News
Voluntary Administration: Bookkeeping Steps and Compliance for Struggling Small Businesses
When a small business faces financial difficulty and cannot keep up with the money it owes, voluntary administration provides a formal way to seek help and protect the company’s future. Voluntary administration bookkeeping steps and compliance are essential for Australian small businesses to understand, especially when the company enters voluntary administration. By focusing on clear…
The Impact of GIC on Small Business Cash Flow and Tax Planning
Small businesses often struggle with managing cash flow when the General Interest Charge (GIC) applies to unpaid tax debts. Understanding how GIC works under the Taxation Administration Act and Income Tax Assessment Act, and examining ways to meet tax obligations, can help business owners protect their working capital and plan for sustainable growth.Cash flow is…
ATO Notice of Assessment Explained: How to Reconcile Your Business Tax Records
Running a business means juggling client work, staff needs and cash flow, but nothing grabs your attention quite like the moment the ATO Notice of Assessment lands in your myGov inbox. This important document confirms your income tax position for the financial year and tells you whether you can look forward to a tax refund…
