by Camden Professionals | Jul 31, 2023 | Small Business, Small Business Tips
When first thinking about how to start a business, not many people worry about structure. But your business structure can affect how you’re treated by the government and by the law. Here are some of the ins and outs. The main types of business structure are sole...
by Camden Professionals | Jul 11, 2023 | ATO, Government Grant, Government Support, Small Business, Small Business Tips, Superannuation, Tax & Accounting
The start of each financial year usually brings with it a host of tax changes that SMEs need to be aware of, as well as a range of other regulatory changes that affect large sections of the Australian business community. From an increase in the national minimum wage...
by Camden Professionals | May 29, 2023 | ATO, EOFY, Small Business, Tax & Accounting, Tax Deductions, Tax Refunds
A guide to the strategies you can use to minimise your business tax. IS YOUR BUSINESS A “SMALL BUSINESS” ENTITY? Small businesses can access a range of tax concessions from the ATO. To qualify as a “Small Business Entity”, the business must have an aggregated turnover...
by Camden Professionals | Apr 28, 2023 | ATO, Company Directors, Division 7A Rules, How To, Small Business, Tax & Accounting
When you start up a business, inevitably, it consumes not only large amounts of your time of but also a lot of cash and much of this is money you have already paid tax on. So, it only seems fair that when the business is up and running the business can pay you back....
by Camden Professionals | Apr 28, 2023 | ATO, How To, Instant asset write offs, Small Business, Small Business Tax Deductions, Tax & Accounting, Tax Deductions
As the cut-off date for the instant asset write-off program approaches on June 30, 2023, many small to medium-sized enterprises (SMEs) are feeling the pressure to take advantage of the program before it ends. The instant asset write-off (IAW) initiative has been a...
by Camden Professionals | Apr 17, 2023 | ATO, How To, Income Tax Returns, Small Business, Small Business Tax Deductions, Tax & Accounting, Tax Deductions
As a tradie, it’s essential to understand the tax deductions you can claim to reduce your taxable income and maximise your tax refund. This article outlines five common tax deductions for both employee tradespeople (tradies) and business owner tradespeople (business...
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