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When Do Small Business Owners Have to Register for GST?

When Do Small Business Owners Have to Register for GST?

The Goods and Services Tax (GST) is a tax applied to goods and services in Australia. GST is a 10% tax imposed on most goods, services, and other items bought or sold across the country. If your business is obligated to register for GST, you are required to collect...

Frequently Asked Questions About BAS and GST

Frequently Asked Questions About BAS and GST

If you run a business in Australia, you are required to submit business activity statement (BAS) to the ATO. It’s essential to understand your BAS to ensure you comply with tax obligations and avoid any costly fines and interest being applied by the ATO. What is a BAS...

How Do You Improve the Reconciliation Process?

How Do You Improve the Reconciliation Process?

Bank account reconciliation involves matching the records in your business’s bank account with the records in your accounting software. Depending on how often you make transactions or deposits to your account, the process can be done quarterly, monthly, or annually....

How to Get Financial Clarity with Bookkeeping?

How to Get Financial Clarity with Bookkeeping?

Bookkeeping services are an indispensable part of any business aiming to keep track of financial records. These bookkeeping services for small businesses include recording all financial transactions, from daily business expenses to profit earned by a company, ensuring...

Balance Sheet Vs Profit and Loss Statement

Balance Sheet Vs Profit and Loss Statement

Did you know that nearly 60% of small businesses in Australia fail within their first three years due to poor financial management, according to the research? It’s an interesting fact that underscores the importance of understanding your financial reports. In today’s...

The Complete List of BAS Due Dates 2025

The Complete List of BAS Due Dates 2025

As a business owner, it’s essential to prepare a business activity statement and monitor BAS statement due dates 2025 so you can maintain good standing with the ATO. Businesses registered for Goods and Services Tax (GST) must submit a BAS as it allows you to report on...