Here are the top five stories from our Blog which grabbed most of the attention during 2019.
1 – Instant asset write-off explained
With the instant asset write-off increasing to $30,000 during 2019, it’s no surprise that you wanted to find out more about the initiative and how it could benefit your business. Read the instant asset write-off explained to find out more.
2 – Claiming tax deductions on client gifts
It can be hard to know what you can and can’t claim at tax time, and our simple overview of the rules around claiming tax deductions on client gifts proved to be a popular topic all year round. If you’re unsure about the kind of gifts that can be deducted in the lead-up to Christmas, make sure you give this article a read.
3 - How to prepare for Single Touch Payroll
One of the biggest changes to impact on small business owners in 2019 was the introduction of Single Touch Payroll (STP). All small business owners should have commenced STP reporting before 30 September 2019, unless you were granted a deferral from the Australian Taxation Office (ATO). If you’re yet to start STP reporting, or need some additional guidance, read our article on how to prepare for STP.
4 – New gift card laws for business
In the lead-up to Christmas we saw a number of business owners wanting to find out more about the new gift card laws which came into effect from 1 November and what they needed to do to comply. If you’re still not aware of these changes, read out article on new gift card laws for business to understand the new requirements.
5 – Tax planning tips to maximise your return
Did you know there are strategic decisions you can make before 30 June to help you maximise your tax return? In this article, we provided you with some tax planning tips based on whether you are expecting a higher income this financial year (compared to following year) or whether it’s likely to be higher next year. The sooner you can start your tax planning the better, so get a jump on your 2019-20 return by reading our tax planning tips.
What would you like to see on the SBDC Blog?
Our blog aims to provide you with timely and practical advice to help you start or run a business. If there is a particular topic you would like us to cover on the blog in 2020, please email us your article suggestion.
Please note: As a government agency we are unable to accept third party submissions to our blog.