Tag: Small Business
85 articles tagged with "Small Business".
A Letter from Mr Taxman: The scoop on the 2026 Federal Budget changes that may impact you most
On budget evening, Adrian Raftery (AKA Mr Taxman) was up all night looking at the Federal Budget in detail and adding the necessary changes to the latest edition of his book 101 Ways to Save Money on Your Tax – Legally! 2026- 2027 Edition.
Read MoreTEN TAX CHANGES TAKING EFFECT FROM 1 JULY 2025
The only constant about tax is change. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), provides us with some of the tax changes coming into play from 1 July 2025.
Read More7 SURPRISING THINGS YOU MAY BE ABLE TO CLAIM AS A TAX DEDUCTION 2024/25
30 June is rapidly approaching and it is time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), provides some unusual deductions that you didn’t know you could claim for you and your business and maximise your tax refund (or reduce your tax bill) this year.
Read MoreFIVE THINGS TO DO BEFORE 30 JUNE 2025
30 June is rapidly approaching and with every dollar counting during this cost of living crisis now is the time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), gives some excellent tips for you to action and maximise your tax refund this year.
Read MoreTEN TAX TIPS FOR SMALL BUSINESS 2024/25
Small business entities (SBEs) have access to a range of concessions which not only help reduce their taxable income but are also designed to make tax administration easier. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), gives some excellent tips for small business owners to action and minimise your business’ tax bill this year.
Read More101 Ways to Save Money on yout Tax - Legally!
15th Edition!!!! An essential money-saving resource for every Australian who pays tax – fully updated for the 2019-2020 tax year.
Read More2022/23 fee schedule
Here are Mr Taxman's schedule of fees for the 2022/23 year
Read More8 TAX CHANGES TAKING EFFECT FROM 1 JULY 2021
The only constant about tax is change. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2021-2022 edition (Wiley, May 2021, AU$29.95), provides us with some of the tax changes coming into play from 1 July 2021.
Read MoreTEN TAX TIPS FOR SMALL BUSINESS 2020/21
Small business entities (SBEs) have access to a range of concessions which not only help reduce their taxable income but are also designed to make tax administration easier. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2021-2022 edition (Wiley, May 2021, AU$29.95), gives some excellent tips for small business owners to action and minimise your business’ tax bill this year.
Read MoreSTART OF FINANCIAL YEAR TAX PLANNING 2020/21
Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95) shares with us excellent tips for you to action and maximise your tax refund next year.
Read MoreTEN TAX CHANGES TAKING EFFECT FROM 1 JULY 2020
The only constant about tax is change. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), provides us with some of the tax changes coming into play from 1 July 2020.
Read MoreNeed help with your tax?
Take the stress out of tax time with one of Australia’s leading tax experts. Call Mr Taxman today on 1800 TAXMAN (1800 829 626) or drop an email to adrian@mrtaxman.com.au
Read MoreJobKeeper subsidy might have to be extended to avoid ‘fiscal cliff’
Millions of Australians will face tough economic times in October when the JobKeeper subsidy ends according to experts, unless they get more support.
Read MoreHow will employees and businesses survive when Jobkeeper ends?
The Government’s JobKeeper scheme has been a lifesaver for businesses and employees alike, but what happens when it ends?
Read MoreSuperannuation guarantee amnesty
A superannuation guarantee amnesty was introduced on 6 March 2020. Employers participating in the amnesty need to apply by 7 September 2020.
Read MoreTEN TAX TIPS FOR SMALL BUSINESS 2019/20
Small and medium business entities (SMEs) have access to a range of concessions which not only help reduce their taxable income but are also designed to make tax administration easier. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), gives some excellent tips for small business owners to action and minimise your business’ tax bill this year.
Read MoreTEN TAX TIPS FOR THE FAMILY OR INDIVIDUAL 2019/20
30 June is rapidly approaching and it is time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), gives some excellent tips for you to action and maximise your tax refund this year.
Read MoreA COVID-19 TAX TIP FROM MR TAXMAN #16
Can my company claim up to $150,000 on a new car under the instant asset write-off rules?
Read MoreFIVE THINGS TO DO BEFORE 30 JUNE
30 June is rapidly approaching and with every dollar counting during this COVID-19 pandemic now is the time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), gives some excellent tips for you to action and maximise your tax refund this year.
Read MoreSEVIN DEADLY TAX SINS
The new financial year will soon be here which comes with it the annual obligation to submit our income tax return by 31 October. For many of us, the process is as painful as having your teeth pulled but the rewards can be great. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), shares with us seven common mistakes to avoid when doing your tax this year.
Read More2020/21 fee schedule
If you would like one of Australia's leading tax experts and author of top-selling 101 Ways to Save Money on Your Tax - Legally!, then please be advised that my schedule of fees is as follows:
Read MoreA COVID-19 TIP FROM MR TAXMAN #13
How business owners can claim the JobKeeper subsidy if not on the payroll (eg due to receiving dividends or family trust distributions only)
Read MoreHome Office Expenses - A Current Affair segment
Household finances are severely stretched at the moment, and finding savings has never been more important.
Read MoreA COVID-19 TAX TIP FROM MR TAXMAN #11
Home office expenses update from the ATO.
Read MoreA COVID-19 TIP FROM MR TAXMAN #12
WFH? Change your postal address from work to home.
Read MoreA COVID-19 TAX TIP FROM MR TAXMAN #9
Vary your PAYG Instalments to zero as part of COVID-19 relief from the Government.
Read MoreA COVID-19 TAX TIP FROM MR TAXMAN #8
A great infographic prepared by Michael Armstrong which summarises all of the various incentives that are out there for SMEs.
Read MoreSTART OF FINANCIAL YEAR TAX PLANNING
The new financial year is here which comes which comes with it the annual obligation to submit our income tax return by 31 October. Like most, you are probably in a mad panic trying to find your receipts to scrap together in a futile attempt to boost your refund (or worse reduce your payable) with some last-minute claims. For others, 1 July brings around a new sense of hope with a whole year to get our tax planning right in 2017/18.
Read More101 Ways to Save Money on Your Tax Legally
101 Ways to Save Money on Your Tax – Legally! is the Australian taxpayer’s essential guide to maximising returns. Comprehensively updated for 2017-2018, this indispensable resource explains all of the changes to the May 2017 budget to help you pay what you owe and not a penny more. You’ll find answers to common questions, tax traps to avoid and plenty of tips from Mr. Taxman himself that can save you hundreds or even thousands of dollars!
Read MoreTEN GREAT NEW YEAR’S MONEY RESOLUTIONS
The new year is a great time to get serious about your finances according to Deakin University’s financial planning Associate Professor Adrian Raftery.
Read MoreTEN TAX TIPS FOR THE FAMILY OR INDIVIDUAL 2015/16
30 June is rapidly approaching and it is time to do some urgent tax planning. Dr Adrian Raftery, a senior lecturer in tax, financial planning and superannuation at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2016-2017 edition (Wrightbooks, June 2016, AU$24.95), gives some excellent tips for you to action and maximise your tax refund this year.
Read MoreToday Show - Exclusive Tax Tips
Are you missing out on money you're entitled to? The good news is most of you are and now it's tax time, it's easy to get back. Well Mr taxman Adrian Raftery joins TODAY with your tax return S.O.S.
Read MoreFive federal budget takeaways
The government promised a 'boring' second budget, but there were still a couple of surprises in last night's announcement for Australia's investors.
Read MoreEssential accounting tips for small business owners
When starting up a new business, it's easy to get caught up in the marketing and sales aspects of the operation. Yet it's important to implement an organized accounting system right from the start, both to keep finances in line and to minimize confusion when tax deadlines roll around.
Read MoreTen tax changes taking effect 1 July 2014
The only constant about tax is change. Dr Adrian Raftery, a senior lecturer at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2014-2015 edition (Wrightbooks, June 2014, AU$24.95), provides us with some of the tax changes coming into play from 1 July 2014.
Read MoreEight new tax rules in 2013/14
The only constant about tax is change. Dr Adrian Raftery, a senior lecturer at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2014-2015 edition (Wrightbooks, June 2014, AU$24.95), provides us with some of the new tax rules that came into effect in 2013/14.
Read MoreTop tips for tax time
Tax time; those two simple words strike horror in the hearts of millions of taxpayers.
Read MoreTop ten tax tips for small business in 2013/14
Small business entities (SBE’s) – businesses with annual turnover of under $2 million - have access to a range of concessions which not only help reduce their taxable income but are also designed to make tax administration easier. Dr Adrian Raftery, a senior lecturer at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2014-2015 edition (Wrightbooks, June 2014, AU$24.95), gives some excellent tips for small business owners to action and minimise your business’ tax bill this year.
Read More2014/15 fee schedule
If you would like one of Australia's leading tax experts and author of top-selling 101 Ways to Save Money on Your Tax - Legally!, then please be advised that my schedule of fees is as follows:
Read MoreATO announces its "hit list" for 2013/14
Today the ATO has released "Compliance in focus 2013-14" which replaces their previous annual compliance program booklet. This new online product, which the ATO developed in consultation with tax professionals, will be updated throughout the year to keep you informed of new issues and risks as they arise.
Read MoreEight tax changes taking effect from 1 July 2013
The only constant about tax is change. Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), provides us with some of the tax changes coming into play from 1 July.
Read More12 new tax rules this year
The only constant about tax is change. Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), provides us with some of the new tax rules that came into effect in 2012/13.
Read MoreSmall business owners prefer cleaning toilets to completing tax returns
Tax time is fast approaching and it’s filling small business owners with dread – with one in five (19%) claiming they’d rather clean the workplace toilet than complete the annual tax return.
Read MoreMr Taxman's Top Ten Tax Tips for 2013
June 30 is rapidly approaching and it is time to do some urgent tax planning. Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), gives some excellent tips for you to action and maximise your tax refund this year.
Read MoreTen tax tips for small business
Small business entities (SBE’s) – businesses with annual turnover of under $2 million - have access to a range of concessions which not only help reduce their taxable income but are also designed to make tax administration easier. Mr Taxman, Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), gives some excellent tips for small business owners to action and minimise your business’ tax bill this year.
Read More2013/14 fee schedule
If you would like one of Australia's leading tax experts and author of top-selling 101 Ways to Save Money on Your Tax - Legally!, then please be advised that my schedule of fees is as follows:
Read MoreTax myths expose small businesses to substantial penalties
Long-held tax myths continue to plague Australian small businesses, exposing many to substantial tax penalties, according to the latest small business research.
Read MoreOffice workers waste two weeks a year on paper jams
Australian workers waste an estimated 71 million hours on office technology problems each year costing businesses in excess of $1.1 billion according to latest small business research commissioned by Dick Smith.
Read MoreATO helping flood affected areas
Tax help and support is in place to help people affected by the recent Queensland and New South Wales floods.
Read MoreFailure to lodge on time penalty increased
From 28 December 2012, the failure to lodge on time penalty has increased by 55%, from $110 per penalty unit to $170 per unit.
Read MoreATO compliance spotlight areas 2011/12
The Australian Taxation Office (ATO) today released their Compliance Program 2011-12, a publication which outlines key focus areas attracting ATO attention for the coming year. Here are a few of the more interesting statistics coming out of that report together with comments from Mr Taxman himself, Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally!
Read MoreParental leave pay
There are two ways to administer new regulations ... the short way ... and the long way. To me this seems like the long way to go around things. From 1 July 2011, employers will be responsible for providing Parental Leave Pay to ...
Read MoreLatest research - tax time takes its toll on small business owners
The end of financial year is an anxious time for Australia’s small business owners bewildered by the complexity of tax reporting and stressed by the amount of paperwork involved, according to the latest American Express Tax Time Survey that I was involved in.
Read More2011/12 fee schedule
If you would like one of Australia's leading tax experts and author of top-selling 101 Ways to Save Money on Your Tax - Legally!, then please be advised that my schedule of fees is as follows:
Read MoreTime of year to sort out the company loan account and directors' fees
Tax Commissioner Michael D'Ascenzo this week warned directors of private companies about claiming deductions for directors fees where amounts may remain unpaid by the end of the following income year. The warning also serves as a timely reminder for any company director loan account issues that are outstanding prior to 30 June.
Read MoreValue of goods taken from stock for private use for 2010-11
If you run a food service business such as a bakery, butcher, cafe, restaurant or catering and you take goods to feed your family for private use, the ATO requires you to deduct the private usage from your cost of goods sold.
Read More100 People - some interesting stats from the ATO
Last week the Tax Commissioner Michael D'Ascenzo launched ‘100 People,’ an innovative online presentation that represents all the individual taxpayers in Australia as though they were one hundred people.
Read MoreFBT car parking threshold for 2011-2012 FBT year
The fringe benefits tax car parking threshold for the FBT year commencing 1 April 2011 is $7.71.
Read MoreFederal Budget 2011 - What it means to you
In his fourth attempt, Wayne Swan delivered another tame, yet solid, Federal Budget for the nation this week. The $22.6 billion deficit is scary and is actually $12.3 billion more than what was expected due to lower tax revenue. But the Treasurer is predicting a return to surplus in two years' time. Good news.
Read MoreTax tips for small business
The Tax Office has some useful tips and information to help businesses start the new year on the right foot. There are some important things all small businesses need to remember, including good record keeping practices, meeting GST obligations, reporting, paying tax and superannuation.
Read MoreSMSF Trustee compliance checks
If you are a trustee of a Self Managing Superannuation Fund (SMSF) you have a range of responsibilities that you must adhere to in the day-to-day operation of your fund. Here is a checklist outlined in the Government's Role and Responsibilities of Trustees paper which details what you must be aware of as a trustee of a SMSF.
Read MoreDepreciating assets worksheet
Here is a depreciating assets worksheet that you can use to work out your deductions for decline in value of depreciating assets.
Read MoreHome office expenses calculator
Use this to see if you can claim a tax deduction for home office expenses as part of your business or employment.
Read MoreRecord keeping evaluation tool
Advice about business records you need to keep, and how well you keep them.
Read MoreBetter business tips
6 tips to help manage your business, including clean up days, training and better utilising your staff's expertise
Read More6 tips for employees working offsite
Business can benefit from employees working remotely or from home however to ensure such arrangements are effective some safe guards should be put in place first.
Read More6 ratios to manage your business
Your business’ balance sheet and income statement are essential, but they are only the starting point for successful financial management. Using ratio analysis on your financial statements you can analyse the success, failure, and progress of your business.
Read MoreIs your business tax-ready?
A tool to help small businesses improve their business tax practices.
Read MorePros and cons of lease finance
A typical equipment lease can run anywhere from one to five years. Most equipment necessary in commercial businesses today, including technical equipment, can be leased.
Read MoreManaging and growing a business
Identification of a number of areas to help manage your business.
Read More12 myths about starting your own small business
Many people decide to start their own business because they think it is a great alternative to having to work for someone else. Some even think it is the next step in the evolution for one to go from rags to riches. However, some people think that engaging in such is a piece of pie. There are many myths that exist, deceiving people into starting their business with unreasonable expectations.
Read MoreA quiz for small business owners
Try the quiz and see how you compare to the results of a recent survey conducted by the Investment and Financial Services Association (IFSA).
Read More13 common GST mistakes
The GST has now been operating for a number of years yet despite a massive education campaign by the Australian Taxation Office (ATO) there are still many errors and omissions that are being made by small businesses on their GST returns. Most of these errors relate to the over-claiming of GST credits.
Read MoreOperating a business from home
Some businesses are better suited to home locations than others.
Read MoreIntro to self managed super funds
A Self Managed Superannuation Fund is a vehicle designed to provide retirement benefits to Members of that Fund. It may also be an efficient tax structure that offers significant benefits to investors.
Read MoreHow to cut your business fuel costs
Fuel tax credits provide businesses with a credit for fuel tax (excise duty) that is included in the price of fuel. Fuel tax credits commenced on 1 July 2006.
Read MoreFEDERAL BUDGET - What it means to you
Only a handful of goodies were expected after the handouts we got in last year’s stimulus packages. But what would an election year be without a few incentives? Here is what you can expect.
Read MoreMr Taxman's top ten business tax tips for 2010
Business owners always ask me for a tip or two around this time every year. Here are a few great strategies for your business to try to implement prior to 30 June 2010 to legitimately reduce tax.
Read MoreMr Taxman's top twenty tax tips for 2009
Times are tough so every dollar saved counts. Last week I provided the first ten of my top twenty tax tips for this financial year. This week I now provide you with my Top Ten Tax Tips for 2009. Remember that tax planning should be 365 days per year not just one month. These strategies are just as useful on 1 July.
Read More