The start of a new financial year is always a good time to look at plans and activities that will help the business over the next 12 months. This year, planning will be even more important as businesses deal with a challenging economic environment, high interest rates, and low consumer confidence.
The end of the financial year is almost upon us, but there are still a number of actions that business owners can take to help reduce their tax liabilities for the 2007 tax year. Often, this is simply a case of ensuring that your intentions are correctly recorded and dated, which will also be helpful when it comes to presenting records for the accountant or bookkeeper.
There is a new generation of accountant empowered by new technology, aiming to revolutionise the way you run your business. A lot of businesses are held back because they don‘t receive professional advice from accountants on their financial performance. As important as your BAS or tax return seems the day before it’s due, it’s still simply a form lodged with the tax office. “We believe that an accountant’s role is to support you in building your business and increasing your profits,” says Adrian Pinkewich of Tax Express.
Need help to start or develop a business? Mariana von Lucken leads us through the maze of government grants and concessions that can make the difference between business success and failure.
Despite the GST being introduced seven years ago, calculating and allowing for it in a business’s books can still be a challenge. Giftrap puts the Australian Tax Office under the pump to reveal what businesses should be doing
Finding a suitable accounting system can be quite a challenge for expanding businesses with specialised accounting requirements. With each new phase of growth comes the need for new capabilities and a wider range of functions.
