Category: Small Business

Key tax & lodgement dates for the April to June quarter 2024 21 July Lodge and pay June 2024 monthly business activity statement. Lodge and pay quarter 4, 2023–24 PAYG instalment activity statement for head companies of consolidated groups. 28 July Lodge and pay quarter 4, 2023–24 activity statement if electing to receive and lodge […]

On Tuesday night, the Federal Government handed down an updated 2024-2025 Australian Federal Budget. This budget focused on cost of living pressures, with a number of announcements across energy bills, student debt, medicines, Social Security & Aged Care, and Business taxation. Please note that these proposals are not yet legislated, and as always, the team […]

Key tax & lodgement dates for the April to June quarter 2024 21 April Lodge and pay March 2023 monthly business activity statement 28 April Lodge and pay March 2024 activity statement if lodging by paper Pay March 2024 quarterly PAYG Instalment notice Make March 2024 quarterly superannuation contributions by this date 15 May Lodge […]

Key tax & lodgement dates for the January to March quarter 2024 21 February Lodge and pay January 2024 monthly business activity statement. 28 February Lodge and pay SMSF tax return for fund newly established in the 2023 financial year. Lodge and pay December 2023 quarterly activity statements. 21 March Lodge and pay February 2024 […]

Key tax & lodgement dates for the October to December quarter 2023 21 October July – September 2023 quarterly PAYG installment activity statement due for lodgement and payment. Only need to lodge if varying the amount. September 2023 monthly activity statements – final date for lodgement and payment. 28 October July – September 2023 quarterly […]

Being the boss means you get to make all the big decisions about your business – including how much to pay yourself in wages, salary or drawings. As the owner, you might need to underpay yourself in the early stages of building your business, so you can reinvest the profits. But your time is valuable […]

Tired of paying rent for your commercial premises and considering buying a premises for your business? Owning a building works best if your business is well-established, you have money to invest, and you’re taking a long-term approach – it can take many years for this decision to pay for itself. The advantages of owning a […]

Key tax & lodgement dates for the July to September quarter 2023 14 July Single Touch Payroll (STP) finalisation due Payers must issue PAYG withholding payment summaries to payees (that is, employees and other workers) for payments not reported through STP 21 July June 2023 quarterly PAYG instalment activity statement due for lodgment and payment. […]

Common Tax Deductions for Small Business Are you claiming all the business tax deductions that you are entitled to? There are many expenses common to most small business, and there are other expenses that are specific to the nature of each industry and the goods or services that your business provides. Operating expenses include accounting, […]

With the temporary full expensing (TFE) incentive due to end on 30 June 2023, the federal government has announced the reintroduction of the small business instant asset write-off. Businesses with an aggregated turnover of less than $5 billion The TFE rules provide for a full deduction to businesses for the cost of eligible depreciating assets […]

As expected, Labor’s second Budget was filled with measures aimed at easing the cost of living over the coming years, addressing the challenges of a slowing economy, and bolstering the healthcare system. There were a number of changes to superannuation, taxation, social security, aged care, housing and other measures that may be of interest to […]

Key tax & lodgement dates for the April to July quarter 2023 21 April Lodge and pay March 2023 monthly business activity statement. 28 April Pay quarter 3, 2022–23 instalment notice 15 May Lodge 2022 tax returns for all entities that did not have to lodge earlier 21 May Lodge and pay April monthly business […]

Key tax & lodgement dates for the January to March quarter 2023 15 Jan Lodge tax return for taxable large and medium entities as per the latest year lodged. 21 Jan Lodge and pay December 2022 monthly business activity statement. 21 Feb Lodge and pay January 2023 monthly business activity statement. 28 Feb Lodge tax […]

Last night, the government handed down the October Federal Budget for 2022-23. The announcements focused on easing the cost of living over the coming years, addressing the challenges of a slowing economy, and introducing investments designed to place Australia in a stronger position for the future. There were very few changes to superannuation & taxation, […]

Key tax & lodgement dates for the October – December quarter 2022 21 Oct Lodge and pay Sept 2022 monthly business activity statement. 28 Oct Lodge and pay Sept BAS. 21 Nov Lodge and pay October 2022 monthly business activity statement 28 Nov Lodge and pay quarter 1 BAS 1st Dec Pay income tax for […]