Australian Tax Explained
09/08/21 • 4 min
Australian Tax Explained - Your #1 FOCUS! // In this episode I want to walk you through typical Australian tax deductions and why you need to reconsider certain deductions.
If you’re a sole trader tax in Australia is really about profit first. The Australian tax system is here to benefit you in places but ultimately you have to prioritise the profit in your business and not try to write off everything!
Company tax returns in Australia are a little more complex and that’s where we can start to look at different options but in Australia the tax system can work against you when you work against it.
Understanding tax in Australia is about understanding tax deductions, understanding where you sit as a small business and understanding taxes for small business, so let me walk you through your number 1 focus here in this video.
Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.
If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.
Right Source Empowering Your Purpose Is Ours.
Australian Tax Explained - Your #1 FOCUS! // In this episode I want to walk you through typical Australian tax deductions and why you need to reconsider certain deductions.
If you’re a sole trader tax in Australia is really about profit first. The Australian tax system is here to benefit you in places but ultimately you have to prioritise the profit in your business and not try to write off everything!
Company tax returns in Australia are a little more complex and that’s where we can start to look at different options but in Australia the tax system can work against you when you work against it.
Understanding tax in Australia is about understanding tax deductions, understanding where you sit as a small business and understanding taxes for small business, so let me walk you through your number 1 focus here in this video.
Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.
If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.
Right Source Empowering Your Purpose Is Ours.
Next Episode
What is the best accounting software for small business in Australia?
Are you a small business looking for the best accounting software to get your started? Then you need to watch this video as I walk you through the thought process to help you choose which accounting software is best for small businesses.
One of the things I commonly come across with small business is their need to find the best accounting software that can do everything from bookkeeping to invoicing to reporting to inventory management. But here’s the thing, when you’re looking for which accounting software is best you simply must take into consideration whether you need something with generalist capabilities or specific capabilities. It’s not as simple as Xero vs MYOB.
Whether it’s accounting software for small business or accounting software for large business or accounting software for nonprofits it’s important that you know what you want and need from it in order to choose the best one. If you require something that is diverse in what it can offer then perhaps you might need to consider a lesser known platform that caters specifically to your industry.
So, follow along with me as we look at accounting software in Australia and how you can make the best possible decision for your business.
Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.
If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.
Right Source Empowering Your Purpose Is Ours.
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