We live in dynamic times - fads, fashions and trends seem to come and go. This is also true of small-medium businesses on average, in Australia, just over 1000 new business start-up each month. Even more alarming is the fact that according to the Australian Bureau of Statistics, more than 60% of small businesses will cease operating within the first 3 years of them starting. So, it's refreshing and comforting to come across a business that has weathered the storm while gaining a s...

From July 1, 2018, new legislation has come into effect that imposes GST on goods that are deemed to be Low Value. This means any product, such as books, jewellery, electronic devices, sports equipment, cosmetics, or clothing will incur a 10% GST on the price of the item, regardless of its value, when imported into Australia. Prior to this legislation, imported goods worth less than A$1,000 were GST free. Read on to find out more about what low value goods are and if you are a su...

Another year another ATO crackdown! It seems each year, the ATO chooses a theme to focus its attention on when it comes to work related expenses. In years past, we've seen crackdowns on laundry, travel and self-education. This time round, the focus could fall on car expenses. Many small-medium businesses work on the principal that if the business incurred an expense, then it must qualify as being a deductible. Our response to this is may be, may be not! Let's first look ...