Introduction In today’s digital age, a stable internet connection is the backbone of modern businesses. From small enterprises to large corporations, the Internet plays a crucial role in daily operations, communication, and overall efficiency. A reliable internet connection enables seamless communication with clients, partners, and employees, ensuring that everyone stays connected and informed. It allows […]
Introduction Established in June 1996, Highland Accounting Services is a trusted registered tax agent and accounting firm located in Adelaide’s northeastern suburb of Gilles Plains. With a team consisting of a full-time accountant and a part-time accountant, we are dedicated to providing excellent service to our clients. In today’s fast-paced business landscape, online accounting software […]
Starting 13th November 2023 the Australian Taxation Office (ATO) has broadened the scope of the Client to Agent linking in Online Services to include the following entities with an ABN; What is Client-to-Agent Linking When you decide to engage the services of a Registered Tax Agent, Registered BAS Agent, or Payroll Services Provider, it is […]
When Do I Register for GST? A Comprehensive Guide for Australian Businesses For Australian businesses, understanding the Goods and Services Tax (GST) registration requirements is crucial for compliance with the Australian Taxation Office (ATO) regulations. Whether you’re a new entrepreneur, an established business owner, or a professional service provider, knowing when and how to register […]
As an accountant, I often receive questions regarding how much GST and vehicle expenses can be claimed for business purposes. One recent query came from Lilly, a full-time cereal farmer, who wanted to know how much she could claim on her new vehicle, a medium-sized SUV she uses for farm-related activities. Here’s Lilly’s question: “Hello […]
Understanding the distinction between a hobby and a business can be crucial in determining your tax obligations in Australia. Many individuals engage in hobbies that sometimes generate income, and it’s essential to understand when the Australian Taxation Office (ATO) might consider your activity to be a business, subject to tax. Myth of the Fixed Threshold […]
Are Merchant Facilities Cost-Effective? As a business owner or manager, cost-effectiveness is a key factor when making decisions about which systems and tools to implement. One common dilemma for small businesses is deciding whether to offer card payment options through a merchant facility or to operate as a cash-only business. This choice can have far-reaching […]
PAYG Instalments: What You Need to Know PAYG (Pay As You Go) instalments is a system administered by the Australian Taxation Office (ATO) that allows individuals and businesses to make regular payments toward their annual tax liability. Instead of paying a lump sum at the end of the financial year, taxpayers can spread their payments […]