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It's tough to get money at the moment. The venture capital funds have shut up shop, the sharemarket is shying away from IPOs, the banks have backed away and the angel investors have had their wings clipped.
It's that time again. The 2009-10 financial year is almost upon us, and the Australian Taxation Office is preparing to knuckle down and get to work.
Businesses with annual revenue of less than $2 million are being urged to take advantage of the Government's increased investment allowance announced in the federal budget.
The end of the financial year is approaching and business owners should now be talking to their accountant about ways to legitimately reduce the tax bill for 2009. Some tax planning techniques differ depending on whether the business is a “small business entity” and the most common strategies that should be considered prior to 30 June 2009 include:
After years of working in Management Accounts, the same business invoicing errors keep cropping up. So I'd encourage you to print out a copy of your business invoice and discover whether you’re guilty of delaying your own cash flow!
Here’s a summary of section 53 of the Trade Practices Act 1974 (TPA), which deals with false and misleading representations. Contraventions of section 53 can lead to soloists having to pay damages or compensation to their clients. There are also criminal penalties with fines of up to $220,000 for an individual.
The 2009 Fringe Benefits Tax (FBT) year ended on 31 March 2009. There are a number of issues that employers need to consider when preparing the 2009 FBT return including:
Professional Accountants can be critical to the ongoing success of your business. They can provide advice on company structure, financial management and legal tax avoidance. But their fees can be exorbitant!
Professional Accountants can be critical to the ongoing success of your business. They can provide advice on company structure, financial management and legal tax avoidance. But their fees can be exorbitant!
The Rudd Government is confident its $42 billion stimulus package can give the economy and the business sector a big boost. But it is clear that some sectors stand to benefit much more than others.
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Business advice: Your Business SuccessEach week Your Business Success showcases a different Australian business and brings in industry experts to advise the business owners. Your Business Success web site.
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