A Guide to the Small Business Restructure Rollover
Starting a small business involves a multitude of decisions, but none is as crucial as selecting the right structure for your business. Your chosen structure can impact your tax obligations, reporting requirements, legal liabilities, and how you operate your business. For example, sole traders and companies have entirely different tax requirements and reporting obligations. However, […]
What Happens When the ATO Audits Someone?
Getting a notice from the Australian Tax Office (ATO) that you will need to undergo an audit is one of those moments that can make you break out in a cold sweat. The thought of someone scrutinising your financial records and asking difficult questions is enough to cause anxiety in even the most organised taxpayer. […]
The Small Business Income Tax Offset Demystified in Detail
Small businesses are vital to the Australian economy, providing employment opportunities and contributing significantly to the nation’s economic growth. Despite the exciting prospects of owning and operating a small business, the journey takes work. Small business owners must navigate complex challenges, including fierce competition, limited resources, and regulatory compliance. Thankfully, the Australian Taxation Office (ATO) […]
