To comply with tax regulations, small business owners must regularly file a series of documents to the Australian Tax Office. The work to complete these documents is often complex and time-consuming, so most small business owners hire tax agents to help with this work. What you may not realise is that a BAS agent could also help your business become more tax efficient. Find out more about the services BAS agents can offer small businesses, and learn the difference between these professionals and registered tax agents.…
Superannuation funds are vital, because they signify the only sure lifeline most people have for their future retirement. To ensure financial freedom during those years, you can engage the services of a professional to help make your superannuation fund as abundant as possible. You can do so by enlisting the services of an accountant or a financial planner. By doing so, you can give your retirement plans the much-needed boost they need in regards to the following key issues:…
As a business owner, it’s important that you pay all of your employees accurately and on time. Under Pay as you go (PAYG) withholding rules, you are obligated to collect tax payments from your employees and submit your records to the Australian Taxation Office (ATO). If you are starting a business, you can register for PAYG withholding through the Australian Government’s Business Portal.
Keep Your Payment Records
It’s important to keep accurate PAYG records so the Australian Taxation Office can ensure that you have paid the right amount of tax, your employees are receiving the pay they’re entitled to, and you are complying with government legislation.…
