Here is Excas Accounting’s check list of what exact details we will need for your small business tax return. The best way you can keep your accounting fees low is to keep good business records that summarises your income and expenses for the year into categories. In the checklist is a standard set of costs […]
What your logbook needs to include To be able to prove how you have used your vehicle to earn your income your logbook has to hit the key ATO requirements. There is no point giving your accountant a logbook that doesn’t cover the details that the ATO have to have, if it’s not valid than […]
When do I need a Logbook for Business Vehicle? The simple answer is when the Taxman considers that you are driving a “Car” rather than a Motor Vehicle you need to do a logbook to give yourself the best possible deduction for you. This is where tax terminology gets confusing as it goes against what […]
How do I get paid from my own business? This exact question comes up quite a bit and my answers in this article relate to those of you who are running your business as a sole trader or partnership. When you operate as a sole trader or a partnership you will pay income tax on […]
HOME BASED BUSINESS This article applies if you are a self-employed person operating your business without renting/owning business premises and home happens to be the place that you work out of. Good examples of this are Tradies that have a workshop/shedding at home, personal trainer who sees clients at home or awesome accountants who have […]