As a medical professional, you're often juggling clinical duties, continuing education, and the day-to-day demands of running or working...

Understanding your financial reports helps you run your business with confidence. It’s not just about compliance. These reports show you how your business is performing, help you manage cash flow , and support smarter decisions.  Many business owners either ignore their reports or feel overwhelmed by the numbers. The truth is you don’t need to be an accountant to read your reports. You just need to know which ones to focus on and what to look for.  Profit and Loss Report   A

Running a business means keeping track of a lot of moving parts, and tax compliance is one of the big ones. One of the most important forms for Australian businesses is the BAS or Business Activity Statement.  If you’re registered for GST or pay Wages, you’ll need to lodge a BAS regularly. But many business owners find it confusing or stressful, especially when juggling everything else.  This guide will help break it down clearly. Whether you're new to business or just need a

Your Business Activity Statement (BAS) is how you report your GST, PAYG and other taxes to the ATO. Reporting incorrectly can lead to...

If you’re a doctor working as a contractor, sole trader, or through a company or trust, you may be earning what the ATO calls Personal...

If you’re registered for GST, lodging a Business Activity Statement (BAS) is part of running your business. But let’s be honest, BAS can feel confusing if you’re not exactly sure what needs to go in it.  Your BAS tells the ATO how much tax you’ve collected and what you need to pay. It helps you stay on top of GST, employee tax, and other reporting requirements that may apply to your business.  Submitting the wrong information or missing key details can lead to penalties and u

As your business grows, it may be time to think about changing your structure. Moving from a sole trader to a company can offer better legal protection, open new tax planning opportunities and help you work with larger clients.    But many business owners are caught off guard by the actual cost of making the switch.  This post will help you understand the fees involved so you can plan properly and avoid any unwanted surprises. Whether you are growing fast or simply looking f

Switching from a sole trader to a company is a big step. It gives you more structure, protection and opportunities to grow. But it also means updating the people and organisations you deal with.  Many business owners think once they register the company, that is the end of it. Not informing the right stakeholders can cause confusion, delays and even legal issues. Clear communication helps you stay compliant, keep your relationships strong and avoid unnecessary stress.    Who

When your books are in order, you gain more than just peace of mind. You’re able to:  Make smarter financial decisions  Stay compliant with the ATO  Lodge BAS and tax returns accurately and on time  Be ready for audits or funding applications  On the flip side, disorganised records can lead to missed deductions, cash flow issues, and penalties from late lodgements. Many business owners don’t realise how much disorganisation is costing them until it’s too late.  Use a Cloud-Ba

Starting a business is exciting, but making the right choices early on can save you a lot of time, money, and stress down the track. Two of the most important decisions you'll face are choosing the right business structure and picking a business name that reflects your brand.  Many business owners rush through this part or follow what others are doing without understanding the long-term impact. Getting these steps right helps you stay compliant, build trust with customers and

Every year, employers must complete their Single Touch Payroll (STP) finalisation. But when exactly is the deadline, and why does it...

When the minimum wage goes up, many business owners ask themselves the same question: “Do I really need to adjust wages right away?”  The...

Payroll tax is a major cost consideration for many businesses in Australia, particularly as they grow and take on more staff. One common...

When an employee leaves your business, you may need to pay out unused leave or redundancy entitlements. Many business owners are unsure...

If you are a tradie, your tools are your livelihood. But when it comes to tax time, many are unsure whether a tool is considered an...

Many businesses rely on contractors to keep operations flexible and costs under control.   Working out if contractors are or are not...

As your business grows, there comes a point where payroll tax may come into play. Many owners think of payroll tax as something that only...

If you own an investment property, a depreciation schedule could be one of the easiest ways to legally reduce your tax bill. Many...

Running a business means juggling a lot of responsibilities. Staying compliant with the ATO, making smart financial decisions and...

Missing your BAS deadline can be stressful, especially when cash is tight. But you're not alone and this situation is more common than you might think.    Many business owners believe they’ll automatically face penalties or legal action. But in most cases, help is available. Staying calm and taking action early can protect your business and your peace of mind.  What to Do If You Can’t Pay Your BAS On Time     Lodge It Anyway   Even if you cannot pay the full amount, always lo