The most important thing is to recognise and accept that you are now bigger and can no longer run the business the way you used to.
Are you self-employed and a contractor? You can still be classified as an employee. Anyone signed on for a job as a contractor needs to know what that means from an accounting and tax point of view, or what difference being self-employed will make for meeting your accounting and tax obligations. The status of your engagement […]
In 2012, the government introduced taxable payments reporting to improve tax compliance within the building and construction industry.
In Australia, payroll tax is a state-based tax. As a business owner, you should be fully conversant with the particular regulations that apply in your state.
There’s one task that business owners tend to procrastinate on, sometimes for years, and it’s performing a stocktake. It is a lengthy, but vital task.