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Public Accountants Registered Tax Agents | Covid-19 Reopening

Category: Business

Side Hustle Culture: Having Your Own Business On The Side

Starting a side hustle has become increasingly popular in Australia as more people seek additional income streams, personal fulfilment, or a way to test business ideas while maintaining their full-time jobs.

While there are numerous benefits to having a side hustle, there are also challenges to consider. Let’s examine the pros and cons of starting a side hustle in Australia.

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Superannuation, The Self-Employed & Contractors

If you’re a contractor, freelancer, or self-employed, you’re probably already juggling multiple responsibilities, from managing clients to keeping track of your income.

One area that often gets overlooked is superannuation, but it’s crucial to think about your future.

Even though you may not have an employer making regular super contributions on your behalf, you can still take control of your super to ensure you’re building a nest egg for retirement. 

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Understanding Closely-Held Employees & Small Business STP Reporting

Small businesses, especially family-run ones, require careful attention to payroll for closely held employees, such as family members, directors, and shareholders. 

The Australian Tax Office (ATO) mandates that all employers adhere to Single Touch Payroll (STP) reporting requirements regardless of the employee’s relationship to the business. 

However, small businesses with fewer than 19 employees have some flexibility in how they meet these obligations. In many cases, small businesses may also have closely-held employees 

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The Key Responsibilities Of Running A Business (And How An Accountant Can Help)

Running a small business is an exciting and rewarding endeavour, but it also comes with a fair share of responsibilities.

Among the most important are the financial obligations that keep your business compliant and financially healthy. That’s where an accountant can be your best ally.

With their expertise, accountants can help small businesses navigate the complexities of financial management, ensuring that everything runs smoothly.

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Claiming Motor Vehicle Expenses In The New Financial Year

Making the most of available tax deductions for your business can be an important aspect of starting the new financial year. It’s why planning and strategising with your tax advisor could lead to different and new perspectives regarding tax in areas of your business. 

One area where you can significantly benefit is through claiming motor vehicle expenses.

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Turning Business Ideas into Reality: A Practical Guide

Every successful business starts with a simple idea. The journey from concept to a thriving enterprise, however, is fraught with challenges.

For aspiring entrepreneurs, the key is not just having an innovative idea but acting on it effectively. Here’s a comprehensive guide to help you transform your business ideas into reality.

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