Legal Obligations of a Business Owner—Are you across all of them? Are you considering starting a business? Or perhaps you are already running a small business and you know just how much is involved! Either way, with this article we aim to give potential business owners an understanding of the areas to consider before starting […]
We’ve noticed that business owners sometimes get confused when their BAS amount payable is considerably higher or lower than what they are expecting. Usually this happens when they report GST on a cash rather than an accruals, (or non-cash), basis. For most business, a BAS is largely for GST, PAYG withholdings (employee taxes withheld) and […]
One of the basic principles of GST is that it is paid by the end consumer. A business that is registered for GST is not the end consumer. This means that if you’re a business and you’re registered for GST and you see a price of $100 + GST quoted, although you may physically pay […]
Do you know the difference between cash and accruals accounting? More importantly, do you know what impact it has on your financial reporting and which one is right for you? Check out our YouTube video to learn more.