Employee With A Side Hustle [vc_row][vc_column width='1/2'] Hobby or business Just because you are selling products or supplying a service doesn’t automatically mean you are in business. It is important to understand how the ATO would classify your activities. https://www.ato.gov.au/business/starting-your-own-business/are-you-in-business-/ [/vc_column][vc_column width='1/2'][/vc_column][/vc_row] Statement by Supplier If your activity is done as a...
Leveraging time is the goal of most smart business operators. Leveraging your time in business means that you achieve many tasks with the least personal input, thus reserving your time for the most important parts of your business. Outsourcing is a powerful business tool for those...
When looking to start a business or considering changing your trading structure it is imperative that you speak to your accountant to help you understand what the best structure for your situation is. Mistakes can be costly and are not always easy to fix. Sole Trader A...
Safe Harbour If you lodge your own BAS then you can get in trouble if there are mistakes or it’s overdue. You might even have to pay fines. If your BAS Agent lodges for you then you are safe. www.tpb.gov.au/safe-harbour BAS Agent Lodgement Program If you lodge your own...
Starting a new business can be both an exciting and challenging time, even for the experienced businessperson. There are so many things to get in order, such as marketing, premises, staffing, equipment, etc. Getting all aspects of your business off on the right footing is...
How to register When you register for GST, you'll need an Australian Business Number (ABN). Note: if you are a non-resident there are special rules that may apply to you. You can register for GST: online via the Online Services for Business (https://onlineservices.ato.gov.au/business/) by phone on 13 28 66 through your...
Setting up your Invoices The information in your invoices and even what you call them (‘tax invoice’ or ‘invoice’) depends on whether your business is registered for GST. Whether you print your own invoices (for a paper-based system) or input details into an electronic system, you need...
Difference Between Employees and Contractors An employee works in your business and is part of your business. A contractor is running their own business. The table below outlines the factors that determine whether a worker is an employee or contractor for tax and super purposes. Follow...
A bookkeeper is a bit like a GP – there’s one on every corner but great ones are hard to find. And when you do find one, you should never let them go. But how do you know if your bookkeeper is good, or even...