Insurance

Business Maxims

Why neglecting insurance can be disastrous

Max Newnham

Max Newnham Too often many business owners neglect their insurance requirements of not only the business, but also the business owner.

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.

Severely late bills hit one-year high

Late bills became even later in the December quarter.

Chris Zappone The number of bills being paid "severely" late by Australian businesses have hit a one-year high, rising by almost 30 per cent in the December quarter.

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?

Spending slide spreads: Westpac

spending

Danny John Key parts of Australia's services sector are being hit by the slowdown in consumer spending.

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.

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.

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?

BUSINESS MAXIMS

The ABCs of GST

ABC.

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

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.

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.

Greens in bid to boost small business support

Small business owners would recieve extra support under the proposal.

Clancy Yeates Small business owners would receive extra support worth up to $300 million a year under a new proposal from the Greens.

Pay tax at the lowest possible rate

Tax cut.

Max Newnham We're opening a cafe in a few weeks' time. How can we maximise our tax claims?

Business alert: no dividends in skipping super

The Tax Office is responding aggressively to complaints that small businesses are not paying super on time.

Ruth Williams Small businesses struggling with tight cash flows have been warned not to fall behind on employee super payments

BUSINESS MAXIMS

Help! Our debt is crippling us

Debt.

Max Newnham Q. We have incurred a debt to the ATO of more than $100,000. The interest is making it nearly impossible to pay off.

BUSINESS MAXIMS

How do I get rollover relief?

Swiss ball.

Max Newnham Q. I'm a physio doing home visits and need better equipment. Could I claim these under CGT rollover relief?