Tag: bookkeeping errors

Every financial year, small business owners across Australia look for ways to reduce their taxable income and increase their tax refund. Yet, many miss out on valuable tax deductions simply because they’re not sure what they can actually claim on their tax return. The challenge is real-tax law can be complex and knowing which business…

Running a small business means juggling many responsibilities and keeping on top of bookkeeping is often one of the toughest. Many business owners find themselves overwhelmed by financial activities like tracking expenses, paying bills, and preparing tax returns. When bookkeeping tasks are neglected, it can lead to cash flow issues, inaccurate financial statements, and stress…

Managing your tax obligations can be challenging, especially when it comes to Pay-As-You-Go (PAYG) instalments. Many small to medium-sized business owners in Australia find themselves overwhelmed by the requirements, due dates, and potential consequences of missing these regular tax prepayments. What starts as a simple oversight-such as not paying PAYG instalments on time-can quickly spiral…

When you’re running a small business, selling a business asset can sometimes result in a large capital gain, which means you may face a significant Capital Gains Tax (CGT) bill. Many business owners worry about how much tax they’ll need to pay when they sell a property, equipment, or even their business itself. The good…