Resources
ATO Small Business Tax Basics Webinars
For those starting a new small business or wanting to update their knowledge, the ATO has launched a series of 13 Webinars on various tax-related topics. Register for the session you’re interested in online.
ATO videos GST and BAS information
Helpful Goods and Services Tax video tips for small businesses to help understand what you need to do and how to do it, and what to do if you have difficulty meeting taxation obligations.
Australian Business Number Registration
ABN Registration for Sole Traders
Australian Securities & Investment Commission (ASIC)
http://www.asic.gov.au/asic/asic.nsf
Australian Taxation Office (ATO)
CGT Small Business Concessions Tool
This tool from the ATO enables tax agents to determine whether small businesses are eligible for Capital Gains Tax concessions.
Changes to SMSF Rollover Benefits Statement
SMSFs will need to use a new Rollover Benefits Statement (RBS) form for all rollovers from 1 July 2013. Also all contributions received in a rollover from 1 July must be reported to the ATO by the receiving fund and in the 2014 SMSF Annual Return (SAR) you only report contributions received directly by the super fund during 2013-14 financial year. Refer to the ATO’s Rollover benefits statement and instructions.
Contracting Essentials
DIY SMSF: The Law Central Guide
Law Central’s Dec 2012 newsletter provides an excellent overview of what to consider when setting up a Self-Managed Super Fund.
Free Business Planning Apps
The Government has launched a suite of four free Apps for new business owners to help them develop their business plan, marketing plan and an emergency management plan plus an iPhone resource app.
Fuel Tax Credit Rate Changes from 1 July 2013
The ATO advises that from 1 July 2013, there will be rate changes to fuel tax credits.
Fuel Tax Credits For Heavy Vehicles
ATO’s guide to fuel tax credit for organisations who use heavy vehicles for travel and other activities in their work.
Guide to Capital Gains Tax Concessions
The ATO has provided a guide for small business when claiming capital gains tax concessions.
How to Lodge Your Taxable Payments Report Online.
ATO has provided a video on how businesses in the building and construction industry can lodge their taxable payments annual report online. Lodgement due 21 July each year.
IT Professionals Guide for Claiming Work Expenses
The ATO has released a guide for IT professionals with information on work-related expenses that can be claimed as a tax deduction.
Key Tax Time Changes 2012/2013
The ATO website has conveniently published a summary of the key changes that may affect you at tax time.
NSW Office of Fair Trading
NSW Office of Industrial Relations (OIR)
www.industrialrelations.nsw.gov.au
NSW Office of State Revenue (OSR)
Online Selling?
The ATO has developed a quick checklist to determine whether you are conducting a business or enjoying a hobby when it comes to online sales, to ultimately determine your tax situation.
Selling or Closing Your Business – Things to Consider
Should Your Spouse Be Involved In Your Business?
Why would you want to involve your spouse in your SME? Recent ABS data shows that the divorce rate is edging upwards and 40% of marriages are likely to end in the Family Court. And a thriving family business may form an embattled couple’s most valuable asset.
A separated spouse may base a claim for a larger share of the family business assets on his or her involvement in the enterprise. Indeed, the spouses could squabble over who keeps the business in the event of a marriage breakdown.
Small Business Benchmarks
The ATO have updated small business benchmarks with the 2010 financial year data and now include new activity statement ratios for a wide range of industries. This gives more options to check your performance and record-keeping.
You can check your business and record-keeping performance against the Small Business benchmarks. If you are outside the benchmark for your industry, it may indicate you are not properly recording all your income, in particular your cash income.
Taxable Payments Reporting Online – Building & Construction
From July 2013 the ATO allows online lodging of taxable payments reports for the building and construction industry.
Tax Tables
www.ato.gov.au/Rates/Tax-tables/
Tax Withheld Calculator
Tax File Number Declaration Form
Voluntary Use of Pay As You Go Instalments
ATO guide to setting up and using voluntary pay as you go tax instalments.