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Why Your Business Needs You to Say No - 26th June 2018
Being open to new possibilities is a positive trait shared
by most entrepreneurs - but saying yes to all the people you meet and
opportunities that come your way can get you into trouble.
One of the most impactful changes you can make in your business is to form one simple
habit: give yourself time to weigh the cost and benefit before making any decision,
and politely decline any opportunity that doesn’t align with your goals.
If you're feeling stressed and less productive than you'd like, it's time to
get better at saying no. Here's how.
Managing Tax Disputes Can Be Like Wrestling With a Superhero - 13th June 2018
It is sometimes said that a
superhero like the DC Comics character Superman can be an uninteresting
character because he is, for all practical purposes, indestructible. Critics
have said the knowledge that he will most likely win can make Superman's
adventures monotonous.
A similar accusation could
be levelled at the Federal Commissioner of Taxation (the flesh and bone
personification of the ATO).
But despite all his powers,
our real life superhero (or supervillain, depending on where you stand) can
sometimes be successfully opposed, if not entirely defeated. But to do this you
must move quickly, know the rules of engagement and have a clear vision of the
outcome.
Builders: Get Your Taxable Payments Report Ready Before August 28 - 13th June 2018
Businesses in the building and construction industry, take note - the deadline is August 28, 2018 to report the total payments you made to each contractor you enlisted the services of in 2017-18. You will need to report these payments to the ATO on the Taxable payments annual report.
Home to Work Travel Claims? Generally not but Sometimes..... - 4th June 2018
As
a general rule, travel from your home to your workplace is not allowed
as a deduction because it constitutes a "private expense". There are
however specific situations where this rule may not apply, and there can be
circumstances where you may be entitled to claim some of the travel expenses
between your home and your regular workplace, or even your alternative
workplace.
But
it is a minefield that needs to be treaded carefully so as to not end up in hot
water with the taxman.
