EMPLOYEE/CONTRACTOR DECISION TOOL

There is a Decision Tool on the Australian Taxation Office website designed to help employers understand whether their individual workers are employees or contractors, in order to comply with tax and superannuation obligations.

Once you have answered a series of questions you will be provided with a report which will give:

  • A decision of employee or contractor
  • A summary of the information you have provided
  • The basis of the decision and
  • A summary of your taxation and superannuation obligations relating to the worker.

You will remain anonymous at all times. No personal information will be transmitted to the A.T.O.

Please contact me if you would like to assess your employer obligations.

SMALL BUSINESS INCENTIVES

SMALL BUSINESS INCENTIVE EXTENDED

Small businesses can claim an immediate deduction for eligible business assets costing less than $20,000 each, purchased from 12th May 2015 to 30th June 2019.

My suggestion to small business owners is:

If you need new business assets which cost less than $20,000 each, and you can afford to, and you are paying tax, purchase new eligible items before 30th June 2018 to claim the deduction in this financial year.

Make sure you can substantiate ALL of your tax deduction claims.

Please contact me if you need assistance.

BUSINESS ANALYSIS

Analysing trends to improve business

Analysing your business performance is valuable if you take action to improve your business results, however one trend by itself, is not that useful. 

If, for example, your employee wages are trending upwards, you need to also look at turnover and profit; and then analyse the ratios of wages to profit. Doing financial calculations, and analysing ratios will allow you to step back from the day to day operations of your business and look at the overall business performance.

Remember, it is only useful if you act on the results.

Please contact me if you need assistance.