small business

  A general law partnership is formed when two or more people (and up to, but no more than, 20 people) go into business together. Partnerships are generally set up so that all partners are equally responsible for the management of the business, but each also has liability for the debts that business may incur. Partnership

• 4 April, 2018

The concept of a “going concern” exemption for the purposes of the goods and services tax (GST) can still cause confusion when businesses are sold. The sale of a business may be GST exempt if the enterprise is deemed to be a “going concern” — which refers to an enterprise’s ability to continue trading. The

• 21 March, 2018

The government announced last year that it intended to tighten the eligibility factors for the CGT concessions that are generally available to small businesses. The CGT concessions are important for qualifying businesses in that they can defer, reduce or remove liability to CGT. Specifically, the proposed amendments (which have been released in exposure draft form)

• 13 February, 2018

Need help with starting or growing your business? The government’s small business website business.gov.au hosts a free online tool to help businesses find government advisory services in their local area. The business.gov.au site has a section called “Expertise & Advice”, which has been designed primarily for start-ups and those new to the small business arena. The

• 31 January, 2018

Your small business clients can use simpler trading stock rules. If your client operates a small business entity and at the end of the income year estimates that their trading stock’s value has not changed by more than $5,000, it may pay to remind them (especially if they are new to business) that they can

• 31 January, 2018