Tax

Authoritative and technically accurate information and guidance on all areas of tax

Top 5 avoidable tax mistakes small business owners keep making

The biggest lie ever told to aspiring small business owners and entrepreneurs is that hard work guarantees success. Hard work is vital to success, but it’s not the only quotient. Don’t listen when starry-eyed blog writers and charismatic airbrushed suits tell you that you can’t lose if you try hard enough. There are over 2.1

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Can customer reward program benefits be taxed?

Many companies, or even whole industries, offer their customers loyalty award-based incentives programs. These programs, such as the “Frequent Flyer” and “Fly Buys” schemes, are designed to reward customers for purchasing or using a company’s goods and services (or indeed, those of its affiliates). Can customer reward program benefits be taxed? As a result of

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Don’t forget that a fuel tax credit increase has gone through

Small business owners are reminded that fuel tax credit rates increased for fuel acquired from August 1, 2015. Don’t forget fuel tax credit increase. While the next due business activity statement (BAS) is for July (lodgement due by August 21), the following BAS will be for August, which is due by September 21. That’s right,

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Here’s how politician travel allowances compare to yours

Despite the firestorm currently raging over parliamentary entitlements, most people won’t deny Australian pollies are justified in the amount of travelling they do for work. Lawfully, parliamentarians nationwide do have access to a lucrative array of politician travel allowances, other allowances and tax deductions, but the reality is that sufficient representation often correlates to frequent

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