How Corporate Tax Rates Can Affect Your Bookkeeping Forecasts and Budgets shows how the corporate tax rate you expect changes how much cash your business needs to set aside. If your budget uses the wrong company tax rate or ignores income tax, it may overstate available cash. Company tax is not only a year-end issue.…
Tag: bookkeeper
Company vs Sole Trader: How Tax Losses are Tracked and Carried Forward
Company vs Sole Trader: How Tax Losses Are Tracked and Carried Forward is about who owns a tax loss and how that loss can be used in future tax returns. A sole trader reports business income through a personal tax return, while a company is a separate legal entity that lodges its own tax return…
Estimating the Medicare Levy as a Sole Trader: Which Financial Figures May Be Relevant?
Estimating the Medicare Levy as a Sole Trader starts with understanding which financial figures can affect your taxable income and whether other Medicare-related rules apply. Your business turnover alone does not show how much tax you may have to pay because the Medicare levy is generally calculated using taxable income after relevant deductions.For many sole…
CA, CPA and Bookkeeper: Understanding the Different Roles in Your Finance Team
CA, CPA and Bookkeeper are different roles and designations that can support the accounting and finance needs of an Australian business. A Chartered Accountant (CA), Certified Practising Accountant (CPA) and bookkeeper may all work with financial records, but their qualifications, responsibilities, professional focus and expertise can vary.The Difference Between a CA, CPA and BookkeeperIf you…
