Shop Vacancy Rates: Armidale Case Study
Shop Vacancy Rates in Armidale Growing up in a country town, it was hard to appreciate how the development of out-of-town shopping malls affected inner-town small businesses. However, my recent trip to Armidale has highlighted this, with shop vacancies throughout the main shopping strip. It got me thinking about the consequences for retailers and the long-term damage to a […]
Tax Planning for Businesses
The general rule is that you can claim deductions for expenses your business incurs in its task of generating assessable income. Many of these deductions are obvious – rent, materials, supplies and so on — but there are also some less obvious options left available just before the end of the income year, should your […]
Use it or Lose it: Importance of the PPSR
If you’re a business owner and don’t have an understanding of the Personal Property Securities Register (PPSR), you need to get up to speed to protect your assets! We’ve included some examples of how things can go pear-shaped when you don’t perfect your security interests on the PPSR.
Home office
You might be sick of the daily commute, or want more flexibility of hours – or it could be that you have a talent or skill and feel sure that this can translate into a fulfilling career in your own business. Or it could just be that the idea of working from home seems to […]
Borrowed money for a business debt
It was about 1990 when the ATO was asked about the tax deductibility of interest on a loan a business may have taken out to repay a tax debt. It was the third time, according to ATO records, that the matter was raised. Of the two previous requests for clarification, one was made as far […]
GST Lite for Business
The ATO says that it has “listened to the concerns of small businesses, tax professionals, industry associations and software providers”, and is working towards reducing GST compliance costs for small businesses. “We are reducing the amount of GST information required for the business activity statement (BAS) to simplify GST bookkeeping and reporting requirements,” it says. […]
Business Liquidation
When a business gets into trouble, it has a number of insolvency options. Whether you’re an advisor to a business in financial strife or you’re in charge of such a business, liquidation is one possible outcome. However, many people are surprised to discover that even profitable, thriving businesses may choose to enter liquidation. But why […]
PPSR: Traps for Business Owners
Since the implementation of PPSA in 2012 there has been a lot of myth and misunderstanding about the importance of it, and why every business owner needs to be across it.
Hobby farm basics
Hobby farming is a lifestyle choice that has been around for years and looks like an option that, if anything, is on the increase. And while it can be easy to poke fun at the success or otherwise of the average hobby farmer (like the old joke about their skills at growing blackberries and rabbits), […]
Website design claims
Creating and maintaining a website is expensive because it’s complicated. Lots of small businesses pay hefty costs to have their sites run because they don’t have the time or expertise to do it themselves. So here is some guidance on how you can go about claiming a deduction for your website development costs. Start-up costs […]
