Work Related Deductions – What you should know
Testing the boundaries of work-related expenses Case study: The case in discussion involves an Australian Navy employee. It concerns the claim deduction this employee made for work-related clothing and other expenses. The ATO denied this claim. The primary reason for its decline was that the cost claimed has very little to do with the taxpayer’s […]
Discover: When can the ATO retain tax refunds?
Legislative changes A draft statement to combat the illegal Phoenixing activity (where a new company is created to continue the business of an existing company that has been deliberately liquidated to avoid paying outstanding debts) has been released. The statement provides clear guidance on when the ATO can, and may consider utilising, the Commissioner’s powers […]
Find Out What pricing strategy is best for your product/service
What price is right? The price you set for your product or service is one of the most crucial business decisions. Setting a price that is too high or too low at best will limit your business growth. At worst, it could cause severe problems for your sales and cash flow. If you start a […]
Business Structure Types Australia | Business Structure Infographic
When you start up a business, it is important to consider the various structures that your business could adopt, including: sole trader, partnership, company, or trust. Choosing the Right Business Structure for your Australian Business Deciding on the right structure for your business starts with careful consideration of your business objectives and due consideration of […]
