The ATO Is Warning Taxpayers of Continued Phone Scams

The ATO Is Warning Taxpayers of Continued Phone Scams

The Sydney Morning Herald reported back in December that $830,000 has been lost by taxpayers to convincing tax scams conducted by phone, with the scammers likely originating far outside of Australia. These callers would then trick taxpayers into providing their personal information, and ultimately their money, by threatening them with arrest and other scare tactics.

New Service Eases the Pain of Small Business Tax Disputes

New Service Eases the Pain of Small Business Tax Disputes

Dealing with an ATO audit or dispute as a small business owner can have a devastating impact on both yourself and your business. Often, payments are expected within thirty days and, even if you do decide to object, you may owe half the amount up front. However, it seems that things may finally be looking up for small business owners initiating tax disputes. Beginning on 1 March 2019, there is a new service and a new division aimed at assisting small business owners wishing to address their tax disputes.  

Christmas Work Benefits and Fringe Benefits: What You Need to Know

Christmas Work Benefits and Fringe Benefits: What You Need to Know

With the Christmas season underway, many businesses are planning parties or providing gifts for their employees. Some may have even considered offering tokens of appreciation to clients and customers. While this is, of course, all in good cheer, there are still a few details you’ll want to consider tax-wise, before you get that party fully started.

Building a Better Business: What Makes Your Business Sellable

Building a Better Business: What Makes Your Business Sellable

It’s one thing to run a small business yourself for the love of it and earn whatever profits can be gained there. However, if you have plans to one day sell your small business and let it become something bigger, you have to start thinking about it in a different way. Much like in the conception of the business idea you had to think of what would make your business appeal to your customers, now you have to consider what would make your business appeal to other businesses or potential buyers.

Thinking About Starting a Small Business? Now May Be The Time

Thinking About Starting a Small Business? Now May Be The Time

With the announcement of the Federal Government’s possible new funding package, there has never been a better time to start a small business. Usually, with rates that are often higher than home loans, this is a result of the high interest rates on business loans. Now that new funding proposals are in place, the idea behind it all is that the larger banks will have competition, pushing interest rates for small business loans down all around. If this happens, you have the recipe for a market that is ripe and ready for building a small business, or even expanding your current one.

Choosing a Payment Method for Your Business: Is Electronic the Way to Go?

Choosing a Payment Method for Your Business: Is Electronic the Way to Go?

Deciding which payment methods to offer customers is an often overlooked area of business. Many small businesses begin by accepting cash-only payments, while others venture early into the ever-growing world of electronic payment. There’s no question that, at least for the time being, cash is clearly still an important part of our transactions, but it may be worth it to your business to consider offering electronic methods, as well.

What You Need to Know About Superannuation

What You Need to Know About Superannuation

No matter your age, if you’re employed, you’ve heard of superannuation. This is money that your employer pays into an account set up for your future after retirement. Since superannuation provides for your retirement, it’s an incredibly important asset. Even knowing this, many Australians are understandably confused by the details of superannuation. The truth is, understanding how superannuation works is a vital part of your financial health — and it really isn’t as complicated as it sounds.