What Makes or Breaks Christmas for Micro and Small Business Owners?

The festive season brings both opportunities and challenges for small business owners. While the cost of living has slightly eased, many households are still feeling the pinch. For businesses, the key to navigating this period is careful planning and strategic decision-making. Here’s how you can manage the volatility and make the most of the Christmas … Read more

It Wasn’t Me: Protecting Your Business from Tax Fraud Scams

Picture this: You log into your myGov account, only to discover that your activity statements for the past year have been altered, and GST credits of $100,000 have been issued. But you didn’t receive any such refund. What happened? Unfortunately, this scenario is becoming more common. Scammers are targeting myGov accounts, changing bank details, and … Read more

Streamline Your TPAR Lodgement with Xero

Lodging TPAR with Xero

Streamline Your TPAR Lodgement with Xero Watch this video on YouTube As a small business owner or operator in industries such as building and construction, cleaning, courier, road freight IT, and security, lodging your Taxable Payments Annual Report (TPAR) is an essential annual task. Due by August 28th each year, the TPAR can seem daunting, … Read more

Simplify Your EOFY with STP Finalisation and Xero Tips from Business Edge Advisors

STP Year end finalisation

The End of Financial Year (EOFY) can be a stressful time for businesses. However, with the right tools and guidance, you can navigate this period smoothly and efficiently. At Business Edge Advisors, we’ve created a comprehensive guide and video to help you through the EOFY process, particularly focusing on STP finalisation and using Xero. In … Read more

Key Audit Hot Spots for 2024: What the ATO is Watching Closely

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As tax season approaches, it’s essential for businesses and individuals to be aware of the Australian Taxation Office’s (ATO) key focus areas. Understanding these hot spots can help you stay compliant and avoid potential audits. This comprehensive guide will provide you with detailed insights into the ATO’s primary areas of scrutiny for 2024 and how … Read more

Trust Compliance & Distributions

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The Australian Taxation Office (ATO) is actively targeting trusts and how trusts distribute income to beneficiaries. A number of clients have requested a review of their structures to ensure that they are in the best possible position in the future. We want to help you achieve the best result. Distributing trust income Managing trust distributions … Read more

The Essential 30 June Guide

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The Essential 30 June Guide For You Opportunities The end of the financial year is coming soon. Here are ways to get ready for the 1 July 2024 tax cuts: Prepay your deductible expenses for this year. Make any deductible super contributions. Plan any donations to take advantage of the higher tax rate. Boosting Super … Read more

The Right Vehicle for Your Business: Tax Implications and Benefits

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When trading in an old car to purchase a new one, it’s crucial to understand the tax implications. Here’s a comprehensive guide for small business owners considering non-fuel efficient, fuel-efficient, and electric vehicles, including options like utes with specific towing capacities. Tax Implications Overview Below is a table summarizing the key differences in tax implications … Read more

2024-25 Federal Budget: Essential Takeaways for Small Business Success

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The Federal Budget 2024-25 has introduced several key initiatives aimed at alleviating financial pressures and promoting economic resilience. Here’s a detailed overview tailored for small business owners, highlighting the most relevant budget measures and what they mean for you. Inflation and Economic Outlook The Treasurer has projected that inflation will decline by 0.75% due to … Read more