Tag Archives: business

TAX OFFICE HIT LIST

This year, tax deduction claims the A.T.O. will focus on include: Motor vehicle expenses Expenses for transporting bulky tools and equipment Uniforms and laundry Overnight Travel-transport, accommodation and meals All work-related expenses: computers, stationery, telephone, internet, fees, subscriptions, electricity, tools, equipment. Self-education claims. Make sure you can substantiate ALL of your tax deduction claims. Please […]

Do you have a hobby-business?

Is it a Hobby or a Business? A hobby is a spare-time activity or pastime pursued for pleasure or recreation; and A business generally requires some form of investment and enough customers to whom its products or services can be sold on a consistent basis with a profit-making intention. The distinction between a hobby and […]

Is Your Business Viable?

Is your business viable? Viability is defined as the ability to survive. For a business, this is linked to financial performance and position. A business is viable when either: • It is returning a profit that is sufficient to provide a return to the business owner while also meeting its commitments to business creditors. • […]