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Are you operating a business? The Tax Office are offering a number of free webinars to help business owners understand their tax and superannuation obligations.

You should:

  • Click here to register.
  • Review your current business system to ensure your business meets its taxation obligations.
  • Contact us if you require any clarification or advice.

There is a lot to think about when starting a business. Running a good business relies on good planning. So before you start your business and invest your money, make sure you have an effective business plan and system in place.

Investing your time in learning about what planning you need to undertake can be important to save you time and money.

More importantly, the first thing you should consider before you commence is to understand your tax and superannuation obligations.

Having a good understanding of basic tax issues will help you ensure you pay the correct amount of tax and help you avoid penalties that may be imposed if you fail to meet you obligations.

It’s important to understand which business expenses you can claim as you may even be eligible for some tax concessions.

The tax tips for small business webinars series are split into 12 topics.

Each webinar session run for approximately 45 minutes and are suitable for start-ups or business owners who would like update their knowledge.

The great benefits of webinars is that you can ask questions at any point during the webinar and they will be answered at the end of the session.

The following topics covered are:

  • An introduction to tax basics;
  • Income tax deductions;
  • Home-based business;
  • Motor vehicle deductions;
  • Concessions for small business;
  • Activity statement essentials;
  • Goods and services tax;
  • Budgeting and record keeping;
  • Employer obligations overview;
  • Super obligations for employers;
  • Issues for contractors; and
  • Depreciation.

Click here to register for the free Tax Office webinar.

Remember:

There has been a number of changes to the tax measures and legislation announced by the Government as part of the 2015-16 Budget on 12 May 2015. Details of recently announced changes to the tax legislation and policy can be accessed here.

As a business owner you are responsible to keep up to date and understand what is required.

This article was written on 11/01/2016 and is current as at that date.

References:

Small business webinars | Australian Taxation Office . 2016. Small business webinars | Australian Taxation Office . [ONLINE] Available at: https://www.ato.gov.au/business/starting-your-own-business/in-detail/videos-and-webinars/small-business-webinars/?page=1#More_information. [Accessed 11 January 2016].

This article is not a substitute for independent professional advice. We do not warrant the accuracy, completeness or adequacy of the information or material in this article. All information is subject to change without notice. We and each party providing material displayed in this article disclaim liability to all persons or organisations in relation to any action(s) taken on the basis of currency or accuracy of the information or material, or any loss or damage suffered in connection with that information or material. You should make your own enquiries before entering into any transaction on the basis of the information or material in this article. Please ensure you contact us to discuss your particular circumstances and how the information provided applies to your situation.

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