Accounting is one of the most important aspects of starting and operating a business regardless of its size. It is very easy to get caught up in choosing an enterprise name, designing a logo, and preparing business cards and flyers, but if you don't have a grip on the numbers, your business will not last long. Businesses require accounting services to ensure that all monies are accounted for, to separate personal and business expenditures, and monitor the growth of the enterprise. [Read More]
3 Ways To Put Your Small Business Accounting Procedures In Place
The bane of any small business is its accounting practice because you probably lack the skill and expertise to handle this on your own. Moreover, you probably spend so much time on developing your core functions that it's easy to forget the non-core, but equally vital, aspects of your business until it's tax time. But good advance preparation can save you a lot of heartache in the future with the ATO. [Read More]
When An Individual Should Hire A Tax Accountant
Tax software and the ability to file taxes online have made many people forego the use of tax accountants in recent years, but there are times when such a professional is the best choice for helping you through tax time. Software and online sites can make it easy for you to file your taxes, but they cannot give you tax advice about your own situation. While you may think that you don't need tax advice when you file, note a few times or circumstances that may make it a better choice to talk to a professional. [Read More]
When should I lodge my tax return?
The financial year in Australia runs from 1st July until 30th June the following year. According to the Australian Tax Office, your tax return must be lodged by October 31st each year. However, this gives you a few months in which to complete your return and if you use a registered tax agent, you are allowed to lodge a tax return even later. So, from an economical point of view, when is your ideal lodgement date? [Read More]