Tag: bookkeeping errors

How small business owners can leverage CGT concessions to reduce tax liabilities is a critical consideration for Australian entrepreneurs planning to sell their business or transition into retirement. Many business owners face significant capital gains tax (CGT) obligations when disposing of assets, often unaware that strategic use of concessions could substantially lower or even eliminate…

Many Australian businesses are paying more for fuel than necessary simply because they’re not claiming all the fuel tax credits they’re entitled to. According to Australian Taxation Office (ATO) data, millions of dollars in potential tax credits go unclaimed each year, representing a significant missed opportunity for businesses to reduce their operating costs. Whether you…

Understanding how the GST Margin Scheme works can make a real difference for property developers, sellers, and investors in Australia. Many people find the Goods and Services Tax (GST) confusing when it comes to property sales, especially with the different rules for new residential premises, vacant land, and investment property. If you’re looking to sell…

Keeping track of your business accounts can feel overwhelming when you’re trying to run a successful small business in Australia. Many business owners find business bookkeeping tasks stressful and time-consuming, leading to postponed recording transactions that can create significant headaches during tax time. Without the right accounting system, you might miss potential tax deductions, struggle…