Do You Receive Foreign Income?
If you receive foreign income it is very important that you declare it. The ATO have announced that the gloves are off when it comes to the underreporting of foreign income. How you are taxed and what you are taxed hinges on your residency status for tax purposes. This can [...]
5 Tips for Small Business Owners – Get the Most Out of Your Accountant!
A great accountant is not only a valuable resource for tax planning and accounting for your small business; they can also offer advice on other aspects of your business. Finding the right accountant and working closely with them is a vital part of growing your business, but how do you [...]
The Mental Health Benefits of Exercise for Small Business Owners
Exercise can be incredibly beneficial for the body, but it’s also great for the mind. So what are you waiting for? Get moving! As small business owners it’s vital that you are not only healthy, but that your mind is sharp and focused. When it comes to exercise we all [...]
5 Ways to Improve the Efficiency of Your Small Business
Efficiency is important for all businesses but it is absolutely vital for a small business to be successful. A local hairdressing salon that has a staff of five for example has a much smaller margin of error than a chain of day spas that has a staff of five hundred. [...]
A Small Business Owners Guide to Meditation
Taking ten minutes to do ‘nothing’ may seem like a luxury you can’t afford. But it’s essential when it comes to maintaining one of your greatest assets: your mind. The terms ‘meditation’ and ‘mindfulness’ might seem a bit hocus-pocus, but you’ve got to admit: we could all use some strategies [...]
Can You Claim a Sword on Your Tax Return?
While most of us would laugh at the idea of claiming a sword or Netflix subscription on your tax for some people they are allowable deductions! If you are claiming something out of the ordinary however, expect it to be challenged by the ATO. The three golden rules that determine [...]