Tax Essentials

Overview

Understanding key tax concepts is vital to running a successful business. You can have a strong business idea, strategy and marketing, but not knowing how to account for goods and services tax (GST), keep good records or make provisions for income tax can put you on the back foot financially.

This workshop gives existing and aspiring small business people a high level overview of tax matters impacting them. The workshop is made up of two 3.5 hour sessions and explain how to set up simple financial systems, record transactions and provide you with the knowledge needed to have informed conversations with an accountant or the Australian Taxation Office (ATO).

Main topics covered

Session one:

  • The ATO’s definition of a business
  • What is assessable income?
  • Tax deductions
  • Record keeping obligations

Session two:

  • Business structures
  • The basics of capital gains tax
  • Capital allowances (depreciation and the instant asset write-off)
  • GST

Who it's for

This workshop is suitable for people who are in business, or looking to start a business, and want to understand the key tax concepts needed to run a successful business.

Cost

The cost of this workshop is just $20, thanks to substantial funding from the Government of Western Australia. 

About the presenter

ECU is ranked Australia's top public university for 'Business and Management' in quality of educational experience, teaching quality, skill development, and student support. With course content developed in consultation with industry groups and the latest theory with hands-on, practical experiences it a great option to build your professional skills and knowledge. Their presenter is a former Assistant Commissioner with the Australian Taxation Office (ATO) and has run a number of small businesses, so he understands the issues facing small business owners.