As seen in Woopi News April 2025 There is often confusion over when a business needs to register for Goods and Services Tax (GST). If you earn income under an Australian Business Number (ABN) and your annual turnover is $75,000 or more, you need to be registered for...
As seen in Woopi News February 2025 When a business is registered for GST, it is required to lodge a Business Activity Statement (BAS). For most businesses this is every three months (quarterly), with monthly or annual options being less common. Some business owners...
As seen in Woopi News June 2024 While some Budget announcements apply immediately, it’s important to remember that not all announcements can be relied upon as they may require legislated to be passed. Individuals The budget confirmed the reductions in the individual...
While some Budget announcements do not require legislation and apply immediately, it’s important to remember that not all announcements that require legislated will be passed.
As seen in Woopi News May 2023 The end of the low and middle income tax offset. Starting back in the 2018/19 financial year and extended throughout the pandemic, the low and middle income tax offset reduced tax payable by between $255 - $1080 for individuals earning...
Cashflow can make or break a business and with raising costs, cashflow is no doubt becoming a problem for a lot of businesses.
Australia and New Zealand have been discussing adopting the Pan-European Public Procurement Online (Peppol) network for some years now. Peppol eInvoicing is a new channel for electronically sending invoices that is an accurate, efficient, and secure way to transact with your suppliers and buyers. This framework is designed to increase opportunities for businesses to integrate with the global trading environment utilising their preferred bookkeeping software. It is designed to decrease processing costs and human error by creating a direct exchange of invoices between suppliers and buyers.
Occasionally I am asked if costs such as vet bills, dog food and dog bedding can be claimed as a tax deduction. This question is usually coming from a farmer or a tradie with a pooch on his Ute that he likes to refer to as his guard dog.