Are you a budding entrepreneur Down Under? If so, you’ll want to get cozy with the ins and outs of sole trader tax in Australia. Being a sole trader comes with a whole set of perks, like calling the shots and keeping all the profits, but it also means taking the reins when it comes…
DetailsHandling accounts can turn out to be a very tedious task for any business owner. Taxes, transactions, payrolls, reports, and whatnot! It can consume you entirely and might place the business part a bit under the shadow. Hiring an accountant also has its downsides considering the cost and sensitivity of financial data. …
DetailsIn the world of Australian taxes, the Goods and Services Tax (GST) is a big deal. But to calculate GST for your business may not be a daunting task. It started back in 2000 and has become an important part of how the country collects money. This tax system has helped Australia grow and build…
DetailsWorking on your own (sole trader) or running a company are two ways to go about conducting business. You’ve completed your learnings, put in your hours working for someone else, and now it’s the moment to start your own business. Starting your own thing, even if it means working with the same company as a…
DetailsCapital gains tax (CGT) and goods and services tax (GST) are two of the major tax systems in Australia. Although CGT and GST are three-letter names for tax systems and sound similar, their functions differ entirely. In this article, we’ll discuss CGT and GST and how they differ. This will help you understand two of…
DetailsIn the land down under, the year 2000 brought more than just a new millennium; it ushered in a change in the way Australia managed its taxes. Enter the Goods and Services Tax (GST), a game-changer that replaced the archaic Wholesale Sales Tax and a slew of other indirect taxes. This comprehensive guide takes you…
DetailsDo you run a small business in Australia and are curious about the legality and taxes of your business? Taxes in Australia for a small business are well-defined and not way out of the ordinary. This article will allow you to gather enough knowledge before consulting your accountant. Major Taxes For Small Businesses In…
DetailsWhy Bookkeeping is Important for all Businesses The accounting department must be responsible for one of the most important business operations. The accounting department is responsible for bookkeeping, which means recording and interpreting transactions made by the company. These transactions include both debit and credit transactions. Doing this is necessary to understand a company’s…
DetailsGST or Goods and services tax. During Tax season, These two words are discussed in all business owners’ communities. What is GST and its partner BAS? Simply put, BAS and GST are like vegemite and butter on toasted bread or how profitbooks are for your business needs. You get the point, both of these things…
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