When deductions are greater than assessable income, you have a “tax loss” and there are many reasons as to why a new or established business operates at a loss. You generally can’t receive a refund for a tax loss, but there are other ways it can be used.
Running a business from home is becoming increasingly popular as it offers flexibility and convenience. However, it can seem like the lines between business and personal expenses become blurry, and we are here to clear it up
As a business owner, do you sometimes take work trips? The tax deductions rules are fairly straight forward when the trip is for business purposes only. But what happens when you’ve planned a personal holiday while you are travelling?
As of 1 July 2019, the Single Touch Payroll (STP) reporting system has been extended to all employers. Whilst at this stage there are no penalties for mistakes, missed or late reports, it is recommended that all employers commence the use of STP
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