Accounting

BUSINESS MAXIMS

A question of profits

Tax.

Business Maxims Operating a business through a company can be a great idea when starting out. But the tax benefit can be outweighed when profits have built up.

Don't buy the wrong wheels

Work car.

Max Newnham Many small business owners stumble in buying and financing the right sort of work vehicle.

WORKING FROM HOME

Tax tactics: what to claim when you work from home

Working from home tax tactics.

Business Maxims Q. I run a plumbing business from home. What can I claim?

Super savings total $1.5b over four years

Super.

Federal government to reduce what it gives to low and middle-income earners through super co-contribution from mid-2012.

Big rise in business failure rate

Immigration cuts have contributed to the decline in retail sales.

Clancy Yeates The number of corporate insolvencies has surged to its highest level in more than a decade.

How to write off business costs

Writing off business purposes.

Business Maxims Q. We recently set up an office - can we claim painting and other costs?

FINANCE

Keeping your lenders in the loop

Having a good relationship with your bank could save you.

Tony Kaye Having a better relationship with your bank could save you if push comes to shove. Here's how to do it.

Pass rate cuts on to SMEs: retail body

Don't forget SMEs, urges retail body.

Larissa Ham A peak retail body has urged banks to pass on yesterday's interest rate cut to small and medium-sized enterprises.

Victorian workers win back $7.5 million

More than 3000 Victorians have received backpay.

More than 3500 Victorians were repaid $7.5 million after Fair Work Australia investigations found they had been underpaid.

FINANCE

Write, which way should I pay my tax?

Keyboard.

Business Maxims Q. I am a UK citizen, and am doing a spot of freelance writing. Should I be taxing myself through my ABN number?

Claiming company expenses

Car.

Business Maxims Can I claim my $6000 car purchase as a company expense in my BAS?

Can't pay the ATO? Don't do a runner

Don't keep the ATO in the dark.

Max Newnham Often the first financial commitments that cash-strapped businesses ignore are payments due to the tax office.

Business calls for Henry reform progress

Heather.

Business groups have called for the federal government's tax forum to be based on the Henry review recommendations rather than start from scratch.

We owe ourselves salaries

Max

Business Maxims Q. Can we claim our salaries - which we don't have the money for - as a tax deduction?

Comm Bank, NAB to review business rates

Eric Johnston and Peter Martin Borrowers face further pain, with Commonwealth and NAB expected to review mortgage, business rates.

BUSINESS MAXIMS

The ABCs of GST

ABC.

Max Newnham When you own a business there are countless rules and regulations that must be met.

ATO issues? Just ask small business

ATO.

Henrietta Cook Small businesses welcomed a review of the Australian Taxation Office's cash-economy benchmarks.

Business Maxims

Making the most of fruitful labours

Fruit and the tax question.

Business Maxims The ability to offset business losses against other income depends on a taxpayer passing one of four tests. Where these tests cannot be passed the loss must be carried forward to later years.

Budget should help disaster-hit businesses

Queensland's state budget should be used not only to rebuild the state but its businesses too, an industry group says.

Accountants still a trusted source of advice, say SMEs

Finance

Alexandra Cain Most small business owners still rely on their accountant rather than their lawyer, bank, business coach or financial planner, according to a survey of Australasian small business owners.