The golden rules to avoid a massive tax bill as a sole trader

Posted on June 22, 2022Categories Advisors, Compliance, Small business

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”

Ways to celebrate Pride Month in your small business

Posted on June 22, 2022Categories Small business

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”

10 questions you should ask your advisor this tax season

Posted on June 22, 2022Categories Small business

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”

Staying sane during tax time

Posted on June 13, 2022Categories Advisors, Compliance, Small business

It’s almost 1 July, you know what that means right? Tax time is looming, and it’s time to finalise your EOFY to hit the ground running. You’ll need to organise tax returns, refresh your business plan, balance your books, do a year in review, consult with your accountant, and ensure absolute compliance with the ATO. But you knew that already. It also means a few metric tons of brow-furrowing pressure and stress. Make no mistake, tax time is stressful, and … Continue reading “Staying sane during tax time”

Diversity and inclusion in tech with Take2

Posted on June 13, 2022Categories Advisors, Bookkeepers, Small business

Here at Xero, we actively support diversity, inclusion, and belonging in the workplace. We recognise that a diverse workforce is a strength that enables businesses, including ours, to better understand and serve customers, attract top talent and innovate successfully. Part of our work in this space in Aotearoa/New Zealand has included working alongside a charitable organisation called Take2. The kaupapa (purpose) of Take2 is to teach incarcerated individuals to code, enabling meaningful employment opportunities and ultimately breaking the cycle of … Continue reading “Diversity and inclusion in tech with Take2”

What you need to know about quarterly updates for Making Tax Digital for Income Tax Self Assessment

Posted on June 13, 2022Categories Making Tax Digital, MTD, MTD for businesses, Small business

Just under two years sounds like quite a long time. But then time hasn’t exactly flowed to its natural rhythm over the past couple of years. With lockdowns in place, days stretched for an age. Then, days, weeks and months whizzed by in a hurry as pubs, shops and restaurants reopened. Suddenly, it’s mid-2022. How did that happen?  While here may not be the best place to ponder the ebb and flow of time, it is worth bearing in mind … Continue reading “What you need to know about quarterly updates for Making Tax Digital for Income Tax Self Assessment”

Spotlight Reporting: Bring your business data together

Posted on May 22, 2021May 22, 2021Categories Advisors, Bookkeepers, Small business

Xero connects with over 1,000 apps that help small businesses and their advisors succeed. Each month we celebrate an app partner who stands out for helping small businesses thrive. Find out more about becoming a Xero app partner here. This month, we’re excited to celebrate two significant milestones with our app partners. It’s been over 10 years since we certified the first apps to connect to Xero. And over this time we’ve grown, with over 1,000 apps now connecting to … Continue reading “Spotlight Reporting: Bring your business data together”

Boss Insights 2021: Growing season – Building a purpose-driven business during a pandemic

Posted on May 10, 2021May 22, 2021Categories Small business

This article first featured in the Boss Insights 2021 report, Sole trader surge: small business in a post-COVID world.  Despite the challenges that 2020 brought, our latest research shows Australia has yet again proven to be an overwhelmingly resilient nation. While many businesses had no choice but to shed staff or close their doors after the arrival of COVID-19, many Aussies were prompted to take the leap to self-employment over the past year. Prepared in partnership with Bernard Salt and … Continue reading “Boss Insights 2021: Growing season – Building a purpose-driven business during a pandemic”