About Me

How An Accountant Can Save Your Life

Hi. My name is Ajay. When I started selling goods on the internet, I had no idea that I would have to pay tax. I started off by selling used computer parts from my bedroom, but as my business grew I started to sell other reconditioned electrical items. I was down visiting my uncle one weekend. I explained to him how much success I was having, and he asked me how much tax I was paying. When I said none, he told me to contact an accountant straight away. I was so afraid that I would be in serious trouble. However, the tax accountant helped me to register my business and also calculated how much tax I would need to pay. I wanted to start this blog to advise others about the benefit of using an accountant.

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What You Need to Carefully Consider Before Self Managing Your Superannuation Fund

Posted on February 27, 2017

The world can be a tumultuous and unpredictable place and seems to be getting more complicated by the week. It's hardly surprising that more and more Australians are trying to take responsibility for their own affairs and for their future. This has led to a considerable growth in the number of people who are taking to self managed superannuation funds. If you are considering this yourself, what do you need to bear in mind before you proceed? [Read More]

How to Deal With an Unexpected Audit

Posted on February 24, 2017

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

Posted on February 23, 2017

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

Posted on February 14, 2017

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]