It happens every year. Sole traders around the country tread steadily toward the end of financial year on 1 July, until suddenly, their chest tightens with panic. Hot on their lips is the nail-biting question: what if I don’t have enough coin in the bank to pay my tax bill? Most sole traders will know that they’ll need to file their business tax return to the ATO between 1 July and 31 October. However, unlike regular taxpayers who may receive … Continue reading “The golden rules to avoid a massive tax bill as a sole trader”
Did you know that June is Pride Month? That’s right, it’s here! But how can you get involved in a meaningful way within your own small business? What steps can you take to help create a more inclusive society and combat the scourge of intolerance that has historically been brought against the LGBTIQ+ community? It starts with being authentic and knowledgeable. The Australian story of Pride In Australia, there exists a long and often brutal history when it comes to … Continue reading “Ways to celebrate Pride Month in your small business”
If you’re an accountant or bookkeeper, you’ll know that having consistent information across your practice management tools is vital. That’s why we’re working hard to create a unified client record across Xero Practice Manager (XPM), Xero Tax, and Xero HQ. This will reduce double handling of data and give you confidence in the accuracy of your records, so you can become more efficient in your day-to-day work. We know our existing client record sync in XPM and Xero HQ has … Continue reading “The next step in our journey towards a unified client record”
Xero partner and accountant Andrew Van De Beek of Illumin8 shares 10 questions every small business should ask their advisor this tax season (and beyond). When it comes to tax time, small business owners (perhaps, yourself included) typically have a lot of questions for us advisors. But sometimes, knowing what to ask – or even how to ask it – can be a challenge. So in the lead up to end of financial year (EOFY), I’ll assess the topics I … Continue reading “10 questions you should ask your advisor this tax season”
Individuals Can Malpractice Settlements Be Taxable?
Clients The Importance of Effective Client Communication