GST in Australia is calculated at a flat 10% on taxable supplies. That single rate sounds simple, but the calculation changes depending on whether you’re starting with a GST-exclusive or GST-inclusive price, and most of the costly mistakes happen after the maths is done, when the numbers hit your BAS. Here’s the short version before…
If you run a business in Australia, you’ve probably seen “GST” and “VAT” used interchangeably in conversations about tax. But Australia doesn’t use VAT. It uses a Goods and Services Tax, and the distinction matters more than most guides let on. GST is a 10% tax on most goods, services, and other items sold or…
Ever felt that sinking feeling when looking at your tax bill? Trust me, I’ve been there. After a decade of running ProfitBooks and working with countless Australian business owners, I’ve discovered that most entrepreneurs are leaving money on the table when it comes to tax deductions. Did you know that 42% of small businesses underclaim…
Do 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…
Want to start a small business in Australia? This guide is all about the things needed to start a business in general, such as your business plan and model. We’ve talked extensively from a legal standpoint about how to start a business in Australia while adhering to the regulations. Recent data shows that while new…
After more than a decade in the SaaS industry and experiencing firsthand financial management challenges, I’ve seen Australian businesses struggle to find the right accounting software. As co-founder of ProfitBooks, I’ve spent years evaluating and comparing accounting solutions, and I’ve noticed that many business owners feel trapped with Reckon despite its limitations. In my conversations…
As a business owner in Australia, finding the right accounting software can make or break your financial management strategy. Looking for QuickBooks alternatives? You’re not alone. After running ProfitBooks for over a decade and helping thousands of Australian businesses streamline their accounting processes, I’ve gained valuable insights into what works and what doesn’t in our…
As someone who’s spent over a decade in the accounting software trenches, I’ve seen firsthand the struggle Australian business owners face when choosing between QuickBooks and Xero. I remember when I first launched ProfitBooks back in 2014, these two giants already dominated conversations in every networking event I attended. After helping thousands of Australian businesses…
4 Xero Alternatives in Australia explained in detail with a study on Accounting software.
As a SaaS entrepreneur who’s been in the trenches for over 12 years, I’ve seen accounting software evolve dramatically. When I founded ProfitBooks a decade ago, I had to thoroughly evaluate all market players to understand what small businesses truly needed. Today, MYOB and Xero dominate the Australian accounting software landscape, but which one delivers…