Three Tips To Consider If You're Not Paying Yourself A Salary In Your Business

Starting a new business is a full-on exercise in both time and expense. As a first-time business owner, you are proud that you are no longer working for someone else, but until your business starts making money, you are thinking about forgoing paying yourself a salary. Before you proceed further with that concept, here are three points to consider when debating whether to pay yourself a salary from day one of your business operation. [Read More]

Why You Should Always Know the Value of Your Business

If you've been riding the waves in your small business for the last few years, you may have increased your annual revenues, kept your overheads in order and have returned a nice profit. You may have one or more shareholders who are equally as happy as you when it comes to the direction of the organisation. While you will undoubtedly have access to important metrics to help you make day-to-day decisions, are you in touch with the bigger picture perspective? [Read More]

Why your bookkeeper should also be a registered BAS agent

Business owners in Australia are required to generate Business Activity Statements (BAS), which are then used for purposes of calculating and reporting the business's tax obligations such as GST (Goods and Service Tax) and PAYG (Pay As You Go – for employees). There are fines for getting your BASs wrong, which is why you need a professional to do it. These professionals are bookkeepers who have additional qualifications as BAS agents. [Read More]

Provide These Documents to Your Accountant When Filing Your Taxes

When you need to get your taxes filed, you should consider hiring an accountant. This allows you to have the taxes filed for you, while the accountant does it effectively and gets you the biggest tax return possible. Here are some documents your accountant will need when filing the taxes. Tax and Payroll Documents The first main type of document you need to bring to your accountant is anything relating to the income you received during the year. [Read More]