Keeping Your Accounts in Good Order

Could Your Social Media Posts Lead To An ATO Tax Audit?

It is tax return time, and every tax filer is hoping that their return is correct, that they will receive a refund and that the ATO won't select them for an audit this year. The Australian Tax Office has already announced that this year's audits will focus on those people who make "excessive tax deductions." As someone who makes a reasonable number of deductions, this does not mean you are clear of an audit. Read More 

How to Ensure That You Don’t Encounter Cash Flow Issues When Collecting Invoices

Most small businesses in Australia do not have the luxury of surplus cash. They may not have a sizeable bank account balance that allows them to treat cash flow as an afterthought. As a consequence, it's very important for them to handle invoicing and collections very carefully and professionally, so that no issues are encountered. How can you make it easier for your customers to pay you, by adopting some certain rules? Read More 

After the Panic Attack, What Do You Need to Do to Get Ready for an ATO Audit?

Are you the type of small business owner who crosses their fingers and hopes whenever it comes to tax records? If you are, you're not alone, although it goes without saying that it is not the best course of action to take. You may have been doing this for some time and have become a little complacent, but then you receive a letter in the post notifying you that your business has been selected for a tax audit. Read More 

How to Take Advantage of Deadlines and Strategies When Tax Time Is Approaching

Doesn't it seem as if tax time is always around the corner? This could be because there are, of course, various deadlines for paying instalments and a number of different types of tax. It pays, therefore, to have a plan to make sure that you are compliant through the year and especially if you are to take advantage of the various deductions and benefits available to you. What are some key strategies to bear in mind? Read More