Business Start-Up
If you have a good idea for a new business venture but don't have expertise in the legal or financial aspects of creating a new business, we can help you:
GST
- Registration requirements and thresholds
- When must you register versus when it is beneficial to be registered
- Requirements for preparing and submitting your Business Activity Statements
- Record keeping requirements
Income Tax Obligations
- Explain the different tax consequences for the structure of your business and how this will specifically impact you
- How to manage your personal income tax now that you own a business
- Explain the legitimate business related deductions – allowable deductions in key areas such as motor vehicles, equipment, operating expenses, insurances, working from home, entertainment, business related travel, education, training and more
- How the ATO's compliance 'hot spots' and benchmarking impact your business
Superannuation Obligations
- How your personal obligations for superannuation change when you are self-employed
- Your legal obligations to your employees and contractors
Staffing and Labour
- Legal differences and obligations between staff and contractors
- Explain compulsory work cover and workers compensation policies
- Your personal obligations for superannuation and PAYG withholding tax for your employees
Record Keeping
- Recommend systems to keep track of your income and expenses (eg accounting systems such as MYOB versus spreadsheets versus paper records)
- Establish record keeping systems – on premise, offsite, in the cloud
Let us help you turn your business idea into a reality!
