How to Deal With an Unexpected Audit

Nobody likes to hear that they are up for an audit of their tax returns, but it is all too common with the Australian Tax Office (ATO) continuing to apply a high level of scrutiny to personal tax returns and business returns. While it can be scary to get an audit notice, it helps to remember a few simple tips.  Be polite and patient The ATO staff are just doing their job and it never helps to be abrupt or aggressive. [Read More]

How to Prepare for the Dreaded ATO Audit

It seems as if tax season is always just around the corner, and if you are a small business owner you may worry from time to time about getting an audit by the Australian Tax Office. Even though you may consider yourself to be very stringent when it comes to rules and records, it can still be a worrying time and involve a fair bit of disruption to your routine. What do you need to consider in a " [Read More]

The Biggest Trap for New Business Owners

Are you planning to set up in business on your own account and join the tens of thousands of other Australians contributing to the greater economy? You may have big aspirations and see self-employment as a way to safeguard your future, but you've got to be careful that you don't fall into the big trap that many entrepreneurs encounter. What do you have to consider carefully as you're setting out? [Read More]

3 Times It's Recommended You Hire an Accountant

Not every individual needs to hire an accountant to do their taxes or give them investment advice, but it can be a costly mistake to assume that only businesses need to hire accountants when it comes to handling their money. There are some times when it's recommended that individuals hire accountants, and not just for taxes alone. Note a few factors to keep in mind when it comes to having such a professional manage, or advise you on, your finances. [Read More]