Instant asset write offs, fringe benefits, single touch payroll…there’s a lot of jargon out there when it comes time to prepare your small business tax return.
When Hayley Stephens and Robert Fagan began planning the launch of their e-commerce business in January, a global pandemic was not on their radar. Ms Stephens and her brother-in-law Mr Fagan joined forces to create Beechville Lane – an online baby and new mum gift hamper business featuring iconic Australian brands.
Tech company founder Leica Ison says the proposals will help her expand into the UK and Europe.
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An essential money-saving resource for every Australian who pays tax – updated for the 2020-2021 tax year and including the latest COVID-19 pandemic government relief measures.

comments-rhsLatest Comments

  • "Definitely can claim the trips to customers and should be able to claim the trips to the observatory when you have the bulky equipment for the repairs. I would be curious to know how much you are at..."

    By: Mr Taxman at Dec 20, 2020 11:08PM

    Post: Claiming car expenses

  • "Hi mrtaxman, I am employed at my home office, I am usually required daily to attend our remote mountain top observatory. I need to check overnight correspondence, see if I will need supplies from..."

    By: Carl at Dec 18, 2020 1:40AM

    Post: Claiming car expenses

  • "If you operate under the logbook method then the fuel wil form part of your total fuel bill for the year which you then apply the business-related percentage. Doesn't matter if didn't get paid from..."

    By: Mr Taxman at Dec 01, 2020 6:44AM

    Post: Claiming car expenses

  • "I am running a small business as a sole trader. I attended some work related training the other day but forgot to pay for the fuel required to travel to and from this training with my business..."

    By: Liz Evans at Nov 30, 2020 4:22AM

    Post: Claiming car expenses

  • "I separate everything mate, when it comes to the taxman, so the numbers you see on the RHS of your Statement are not inclusive of your Swaps or Commissions. I have a P/L and then I have P/L of..."

    By: Greg Croot at Nov 23, 2020 11:26AM

    Post: Foreign currency trading