“Every year we see small businesses run into avoidable issues because they haven’t kept accurate records, reported all their income or managed their cashflow effectively” “Every year we see small businesses run into avoidable issues because they haven’t kept accurate records, reported all their income or managed their cashflow effectively” Angela Allen, ATO Assistant Commissioner The Australian Taxation Office (ATO) is encouraging Aussie small businesses to stay compliant. By

Failing to lodge tax documents on time can lead to automatic financial penalties, but the severity depends on your location and the type of entity you are. As of 2026 , here is the breakdown of late lodgement fines for Australian taxpayers. 🇦🇺 Australia (ATO) The ATO uses a "penalty unit" system. As of late 2024 and throughout 2026 , one penalty unit is $330 . Entity Size Penalty Rate Maximum Fine Small (Turnover <$1M) $330 per 28 days late $1,650 (5 units) Medium ($1M–$

While the standard financial year ends in June, the Fringe Benefits Tax (FBT) year actually ends on 31 March. If your business provides benefits like company cars, gym memberships, or entertainment to employees, now is the time to gather your records. For those with company vehicles, please remember to take an odometer reading on 31 March. We can help you work through the details and ensure you’re not paying more FBT than necessary.

As part of its "ready for business campaign", the ATO will email holders of ABNs, to provide tips on ABN obligations, business restructures, registering for GST and understanding employer responsibilities in the coming months. GST Registration Small businesses that don’t completely understand their GST obligations may get caught out when it is time to pay. A small business is required to register for GST if it carries on an enterprise and its GST turnover exceeds $75,000 per

It’s easy to believe that a new stock system will be your time-saving hero—wave goodbye to chaos and hello to seamless stock control. And...

The ALP has been re-elected to form a government with majority, after winning the 2025 Federal election. During the election campaign...

‘Uncertainty’ has been the defining phrase for the first half of the 2020s. The markets are unstable, supply chains have been wobbly and...

Inflation may be down but there’s still real uncertainty for business owners. We’ve been trading in challenging times for a number of...

As a business owner, it’s increasingly difficult to ride out the changing economic conditions and manage the financial ups and downs of...

You’ve spent a lifetime building up your family business, growing the company and creating a lasting legacy for your nearest and dearest....

A taxpayer who carries on part or all their business or employment activities at home may be entitled to a deduction for part of their...

Running an online business has become a reality for a huge number of business owners in recent years. There are an estimated 12...

In tough economic times, small businesses can struggle. Big multinational chains often have the scale to undercut local competitors and...

Your business faces an increasingly complex regulatory landscape when it comes to data privacy, consumer protection and industry-specific...

Because you are a new client, or your existing service arrangement with us has changed, you will need to nominate us as your official...

We have received correspondence from the Australian Taxation office as follows: The security of your clients' tax and super information...

If your business is eligible, it may benefit you to claim an immediate deduction for business assets bought and used this financial year....

If you need to provide payment summaries to people other than employees, such as suppliers where no ABN was quoted, you need to lodge the...

With nearly two months into the 2023–24 income year, by now most of you would have finalised your general ledger accounts in order to get...

Why is cashflow so central to good financial management? Here's our plain english guide. What is cashflow? Cashflow refers to the...