Here are five of the most common traps we see businesses falling into at tax time, along with some tips to help you avoid them.
As the NSW Government gears up to implement a $1 levy per trip taken through taxi and rideshare services across much of the state from this Thursday, Indian rideshare company Ola has signalled it is getting ready to launch in Australia.
Donation Manager allows a charity to quickly generate donation receipts for donors, a process which most small to medium charities are doing manually.
The government on Friday struck a deal to see the Senate pass a number of the tax cuts for businesses proposed in its 2016 Budget.
MYOB has launched Advanced People, a new cloud payroll solution designed to help mid-market businesses manage their payments.
There is a lot more to managing your tax affairs than simply paying as little of it as you can. To be well rounded, businesses should also look to avoid lodgement penalties and make it easy to meet the legal requirements. So, with the 2016 financial year well under way, here are some pointers to keep you on top of your tax game.
For many years, paying our employees’ superannuation was a complete nightmare. We spent several hours paying several different super funds with different logins and navigating different web forms only to come out the other side with less money in the bank and hours of our lives we will never get back. Not much fun and – quite frankly – a painful exercise all round.
Congratulations to everyone for making it through the tax deadline last week. If you spent hours poring over hundreds of receipts that you had hastily ‘filed’ throughout the year, don’t worry, you likely weren’t the only one. While a number of apps have emerged over the last few years to help speed up this process, Australian offering Point & Claim has steadily climbed up to join the market leaders thanks to its data capturing and reconciliation technology. Rather than helping users sort out their personal and business finances right before tax time, Point & Claim aims to make expense management easier all year round.
Over the past two years, Sydney-based FinTech startup Pocketbook decided to focus on growing its user base; and is now finding ways to generate revenue through value-adds. On Wednesday, Pocketbook released its Tax Returns iPhone app, allowing users to lodge their tax return in 10 minutes.
The Australian economy has had its fair share of peaks and troughs. I absolutely love Australia and it is home for me, but I am disappointed by the support it currently offers to a ‘budding entrepreneur’ such as myself.
As business expenses come under the microscope, especially the work-related proportion of use for computers, phones or other electronic devices, the arrival of Mobilyser couldn’t be timelier. The Perth-based startup wants to ensure employers and employees are accurate in their expense claims and aren’t subject to unwanted visits by the Australian Taxation Office (ATO).
The acronym ‘GST’ gets thrown around a lot, and is generally tied up with another acronym – the ‘BAS’. From a tax and compliance angle, GST is one of the big things you’ve got to get right – if you stuff it up, the ATO can turn around and ask you to pay more tax – in the form of additional GST payments. So what exactly is GST? and when do you need to start charging customers GST?
The stringent tax rules relating to employee share programmes is finally meeting its timely demise, a win for the Australian startup community. The Abbott government has today confirmed that it will introduce a $200 million tax break for employee share schemes, invest $188.5 million into innovation centres, and amend the 457 visa programme, as part of a $400 million industry plan.
So you’ve decided to go out on your own. You may be a marketing / IT / Events / PR / Human Resources consultant. You’ve just landed your first client – check! It’s a big client too – even better. This means that most of your company income will come from the one customer. Makes no difference for tax, right? Wrong.
The 2014 financial year is now over. This means (amongst many other things) that startups can submit their applications for the R&D Tax incentives. In this article, we chat with PwC partner, Scott Warnock about how startups can maximise their R&D tax incentive refund.