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As soon as you start to think about your business, an accountant can help you take the next steps. We can discuss your business's organization, tax purposes and operations, along with target pricing and profit margins.
The tax lodgement date in Australia for individuals is usually on 31st October, but it can vary depending on individual circumstances or if using a registered tax agent. It's always advisable to check with the Australian Taxation Office for the most current information.
Does your accountant return your calls? Do you feel comfortable asking them a question? Do you feel heard? With the right accountant, the answers should be a resounding "Yes!"
Australian businesses with an annual turnover of $75,000 or more are required to register for GST. If you a lower turnover you still can register for GST if you wish. In case you have forecasted a lower turnover at the start of the business, you should review it frequently and as soon as you realise that your annual turnover will cross th
Australian businesses with an annual turnover of $75,000 or more are required to register for GST. If you a lower turnover you still can register for GST if you wish. In case you have forecasted a lower turnover at the start of the business, you should review it frequently and as soon as you realise that your annual turnover will cross the $75000 you must registered for the GST. The exception is ride-sharing and tax drivers, who need to register for GST irrespective of their turnover.
You can claim expenditure for buying, repairing replacing tools of trade that you use for earning your income. If the cost of any item is more than $300, it will have to be depreciated over the effective life of that item. If you have any private use of that tool/equipment you must apportion private use before claiming deduction.
Does your accountant return your calls? Do you feel comfortable asking them a question? Do you feel heard? With the right accountant, the answers should be a resounding "Yes!"
Disclaimer: The information on this page is general in nature, you can't rely on the information and must consider your individual/business circumstances. For professional advise contact ATO or a registered Tax Agent
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