Thousands of new businesses open every day. If all those people can do it, why not you? Here’s what to do, and when. (Xero) Small businesses play a critical role in the Australian economy. They employ nearly 5 million Australians. They account for about one-third of private (non-financial) output,...
Incomplete and missing tax invoices. Regular reconciliations not being completed. Treating employees as subcontractors. Not recording all sales through the cash register. Using unreported cash sales to fund personal expenses. Compulsory superannuation guarantee payments not made on behalf of employees. Directors fees paid without making PAYG deductions. Employees...
Is a company right for you? Choosing a company name How will your company operate? Understand your obligations as a company officeholder Get consent from officeholders, members and occupiers Registering your company After your company is registered… After your company is registered, make sure: The company’s name is on...
Claiming self-education expenses when there is no nexus to earning income. Claiming home office expenses where the house is not a place of business. Claiming a tax deduction for superannuation guarantee payments that were paid late. Claiming repairs on rental properties which are clearly improvements or renovations. Claiming...
The courts start from a position of determining whether a common law employment relationship exists, as opposed to a principal/independent contractor relationship. In a common law employment relationship there is a ‘contract of service’. A ‘contract of service’ is based on a ‘mutuality of obligation’; that is, the employer...