Planning

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?

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.

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.

Retail likes rate cut

...

Clancy Yeates and Eli Greenblat Business leaders in the slow lane have applauded the Reserve Bank's interest rate cut.

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?

Credit growth 'building up'

banking.

Clancy Yeates New lending to business has jumped to levels not seen since the global financial crisis.

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?

Businesses slow to act on rising dollar

Dollar.

Despite all the gripes from business about the strength of the Australian dollar hitting profits, few seem prepared to do anything to protect their bottom line.

Buying a bargain could be risky business

Christopher Niesche Many small businesses are going cheap right now, but potential buyers shouldn't be seduced by low prices and the chance to be their own boss.

Is your accountant worth keeping?

CPA.

Max Newnham The new financial year is a good chance to review your business, including the work of your accountant.

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.