Tax relief for small business restructure

Yesterday, 29 February 2016, Parliament passed legislation that will allow small businesses to change their legal structure without attracting a capital gains tax (CGT) liability at that time.

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8 smart ways to manage your debtors for business success

Getting paid on time is critical to managing your small business’ cash flow. And, let’s face it, cash flow is critical to your business’ survival. Paying suppliers and salaries, investing in infrastructure and growth – if you don’t have the cash your business is in trouble.

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Free employer SuperStream webinars from the Tax Office

Employers with 19 or fewer members of staff have still got until June 30, 2016 before they need to comply with the new SuperStream standard for superannuation payments.

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Tax and online fraud: protect yourself and your business

Since July this year, scams targeting both individual and business taxpayers have been running rife.

From fake Tax Office “delayed return” or “proof of identity” emails to telephone calls conveying similar requests, taxpayers have had to keep their guard up.  So how can individuals and businesses protect themselves from online fraud and crime?

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How can your business claim website costs?

Your business can claim website development and maintenance costs under various tax rules.

As a business owner you probably know by now that you need a website; whether to display your credibility, ensure you are accessible, target a wider audience, showcase your work or transact with your customers. Since most consumers now search online before making a purchase decision, a professional-looking site is important.

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Can your small business claim tax deductions for employee training fees?

Running a successful small business sometimes requires an up-skilled team. If you need your employees to grow their expertise in a particular area, spotting them for short-courses, seminars, one-day intensives, professional qualifications or a bunch of “101s” can be a worthwhile endeavour.

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Hired a “contractor” who is really an “employee”? There are consequences

If your business is looking to put on more staff, first of all: congratulations! But secondly, a warning …

The engagement status of workers is an important distinction – whether they are employees or independent contractors – and has consequences that can get many employers into unforeseen hot water.

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Your guide to FBT and Christmas: 5 tips to keep your gifts and party tax free

Christmas will be here before we know it, and it is likely that employers will already be thinking about their yuletide preparations. You may also be thinking about how to manage FBT and Christmas.

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Company director responsibilities

Are you a company director? Better brush up on your responsibilities!

Company directors need to keep in mind that the Corporations Act holds directors personally liable for many of the legal and financial obligations expected from a company.

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If you think the taxman is wrong, here’s what you can do

You are allowed to disagree with the Tax Office, if they have disagreed with your self-assessment of your tax position.

If you believe your tax assessment is incorrect, the first step is straight forward and pretty informal. You contact us and we start making enquiries; you may need to provide us with extra information to help. If we believe the assessment is wrong we can lodge an amendment with the Tax Office (see our post Making an amendment to your tax return).

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