Starting a business is hard, but dealing with it afterward is even harder. For new businesses or small ones, the toughest part is dealing with taxes! Yet, with smart planning and trying some tips, businesses can handle taxes better. In this comprehensive blog, we will explore expert-backed tax-saving tips for small business owners in Australia. […]
As the 2023-24 financial year comes to a close, Australians are eager to know what lies ahead in terms of Tax Rates for the upcoming financial year starting July 1, 2024. While the official figures have not been released, we can speculate on potential changes based on historical trends and government indicators. What Actually Are […]
Before taking any step ahead to GST process it is important to know some most common mistakes that small business holders often do. Navigating the difficulties of Goods and Services Tax (GST) can be challenging for small business owners. GST is a value-added tax levied on the supply of goods and services, and while it […]
Australians seeking guidance through the complicated world of tax preparation are turning to Tax Accountants in Melbourne as tax season draws near. Although bookkeeping and financial planning are the two areas in which accountants are most commonly linked, their work goes much beyond these conventional lines. You may get a lot of advantages for both […]
Since the start of the Covid-19 Pandemic in March 2020, many businesses have had to adapt to employees working from home. As such, many workers are now working from home full time, which means employees can claim tax deductions for their home office. If you are due to submit your tax return and have been […]
Tax return season, for most businesses operating in Victoria are but part and parcel of the calendar year. Some may find it a more hectic period to manage, especially with how the pandemic has affected different operations in unique ways. While plenty have found reasonable ways to manage despite these effects, other proprietors may have […]
Times are tough, but that doesn’t mean your business has to go out of pocket, needlessly. If you’ve experienced a reduction in turnover of at least 70% due to the COVID-19 pandemic, we can help you claim $10,000 from the Victorian Government’s small business Covid hardship grant. Please see below the program overview of the Victorian […]
While most sole proprietors and businesses tend to look forward to submitting their tax returns, it can’t be blamed that some may miss the ATO deadline. If you think you might not be in time to prepare your tax return documents for this financial year, don’t panic! Tax Purpose is experienced in assisting clients from […]
Package to assist small to medium businesses and sole traders, under the circuit breaker restrictions announced on 27 May 2021. Package overview The Victorian Government has launched the $250.7 million Circuit Breaker Business Support Package to assist small to medium businesses and sole traders, under the circuit breaker restrictions announced on 27 May 2021. The package […]
Cryptocurrency traders who think they’re living in a faceless high-tech world will soon get a letter from the tax office. Australian Taxation Office data has captured a dramatic increase in trading since the beginning of 2020. More than 600,000 taxpayers are now dabbling in crypto-assets, the ATO has found. Taxpayers with crypto will be slugged […]
