small business

Cash flow: It can be a make-or-break issue for small business

  Virgin entrepreneur Richard Branson once said the secret to success is to “never take your eyes off the cash flow because it’s the life blood of business”. And one of Rich Dad Poor Dad author Robert Kiyosaki’s oft-quoted pieces of advice is: “Making more money will not solve your problems if cash flow management

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Business client tax loss deduction denials

  Business owner clients may need to be reminded that they should not get too creative if they’ve thought how handy it would be to absorb a business loss as a tax deduction — especially under certain circumstances as described below. The ATO has the discretion to disallow the deduction of a tax loss if,

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Small business concessions under the spotlight

  The CGT concessions for small business are important for qualifying businesses in that they can defer, reduce or remove liability to CGT. The government announced last year that it intended to tighten the eligibility factors for the CGT concessions that are generally available to small businesses, and it has just initiated the formal review

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Small business CGT concession eligibility to tighten

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)

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Business.gov.au site tool helps small business find the right advice

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

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Using the small business benchmarks

The ATO has a database of “small business benchmarks” against which it compares lodged information. But business owners can also benefit by using the small business benchmarks to compare their own performance. Using small business benchmarks It says the small business benchmarks: are calculated from income tax returns and activity statements from more than 1.3 million

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Top 5 avoidable tax mistakes small business owners keep making

The whitest 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. Perhaps your clients have listened when starry-eyed blog writers and charismatic airbrushed suits telling them that they can’t lose if they try hard enough. Well,

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