NEWS

Make 2020 your year of the budget!

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The creation of a new financial year budget is viewed as mandatory by every business owner, right? Wrong. In fact, in my experience, 95% of small businesses neglect to do this key critical task and are essentially ‘flying blind’, working off a copied and pasted budget from 12 months prior…

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Common mistakes regarding GST

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The Goods and Services Tax (GST) legislation has been in passed and is up and running since 1st of July 2000. Although there have been an effort from Australian Tax Office (ATO) to train and familiarize taxpayers about this issue, there are several businesses that still make mistakes when treating…

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Australian Tax Office – Focus shift

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The Australian Tax Office (ATO) has now shifted its Goods and Services Tax (GST) focus from an education approach to compliance approach phase. It is vital for businesses to have the correct systems in place to ensure that  GST is appropriately accounted for on all transactions and that proper documentation is…

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