Tax compliance is an integral component of running any business. Being familiar with corporate tax, accounting and tax services, tax planning, lodgement due dates, and compliance with the Lodgment Program Framework is crucial to avoid penalties at the end of the financial year.
Running a successful business requires more than hard work and having a great idea; it also demands an in-depth knowledge of market forces, financial management practices, strategic planning techniques, and decision-making processes. These challenges may seem only possible to small and medium-sized enterprises with experience or resources to draw upon.
Accounting software has made significant strides over the last two decades or so. Accountants had to endure working with notebook ledgers for a long time before enjoying the luxuries of technological advancements. Today, accounting methods have drastically improved thanks to computers, smartphones, and the Internet.
If you want to gain control and be more involved in your retirement, setting up a self-managed superannuation fund may be appropriate for you. An SMSF allows you to manage your retirement investments during your working life, giving you control of creating your retirement nest egg.
Small businesses are inherently strategic, and part of the strategy, especially in today’s interconnected world, is to make good technology decisions. Thanks to technology, there’s now a level playing field between small and large companies, allowing for an easier way to obtain a global reach for customers, employees, and new hires.
The Export Market Development Grant (EMDG) is a welcome boost for businesses that are planning to develop exports. The scheme gives cash rebates to individuals, firms, joint ventures, or partnerships with a gross turnover of under $50 million. For individuals and companies to qualify for grant payments of up to $150,000 and $250,000, respectively, they…
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Starting 1 November 2021, all directors are required to have a Director Identification Number (DIN). Directors of many Australian businesses have 12 months to apply for this unique identifier. The requirement to have DINs is a part of initiatives as the ASIC, the ABR, and the ATO to continue their ongoing merging process.