Are you working as a contractor? Tax Implication when you work as an independent contractor Independent contractors are in business and they have tax obligations to meet. If you are working in some particular trades, there are some tax implications that follow you. A good number of people have a difficult time telling if they […]
If you make less than $18200 per year, you don’t have to worry about paying taxes on your income. But if you make more than that, you are required to lodge tax return on time. You are mandatorily required to lodge a tax return each year at the designated time of the financial year. But due to certain situations, if[…..]
If you are a business owner, you will have to learn and manage bookkeeping so that you can keep track of the transactions and cash flow. It’s very important to know how the cash is coming and where it’s going. specially, if you own a small business, you probably are not going to have that big of a team[…..]
Managing the rental property can be complex for individuals or businesses. From the taxation point of view if you have multiple rental properties it can be even complex. If you have maintained the complete records of income and expenses with all receipts you will save a lot of time and effort at the end of the financial year. What[…..]
Are you looking to start a new business in Sydney? Starting a new business can be exciting at the same time challenging. For most of the start up financial management, GST, BAS statements are whole new world. That is why we want to help make this journey of setting up and running your business easy. […..]
Are you running small business? Is your business home based or SOHO? Are you trying to cut the bookkeeper cost doing your own bookkeeping? If answer to these questions is yes, then be prepared to learn about bookkeeping before you start it. Keeping the proper records of transactions avoid the expenses of hiring someone else to[…..]
Are you looking to make a donation to charity? Some donations to charity can be claimed as tax deductions on your individual tax return each year. Donations can reduce an individual’s taxable income and money donated in June can result in money back in July. How to check if donation is tax deductible? A donation is[…..]
Selecting the right bookkeeping software for your small business is essential. This is true whether you manage your bookkeeping in-house or outsource this function; your bookkeeping software should provide you with easy access to critical financial management information. Among other things, this information needs to allow you to closely monitor cash flow and thusmake better[…..]
Do you drive for Uber or any other ridesharing company? Are you thinking to drive for uber? Well, driving for uber is a great way to earn extra income on the top of what you are already doing. But, do you know what are the tax implications for the uber driver? You can’t keep all[…..]
If you are an international student in Australia and working part-time you could be eligible to claim a tax refund. Because there is high chance that you’re earning under the tax-free threshold which is $18,200. Overseas students who has enrolled in a course that is more than six months long at an Australian institutions are[…..]