Small Business

Understand PAYG withholding and when businesses may need to withhold amounts from payments.

Understand the two main company tax rates and when each applies.

Understand what aggregated turnover means and why it is used to test eligibility for many small business concessions.

Understand what tax and superannuation responsibilities apply to a company director.

Understand what Division 7A is and how it affects payments and loans from a private company to its shareholders or associates.

Understand what the small business tax offset is and who may be entitled to claim it.

Understand how depreciation lets a small business claim the cost of an asset over time, and how simplified rules can apply.

Understand what a taxable supply is and why it matters for GST.

Understand when a GST-registered small business can claim credits for GST included in its purchases.

Understand what to do if your business cannot pay a tax bill by the due date.

Understand the four main business structures in Australia and how they differ for tax purposes.

Understand the taxable payments annual report and when small businesses may need to report payments to contractors.

Learn the main ways small businesses may pay tax, including income tax, GST, PAYG instalments, and PAYG withholding.

Learn what a tax invoice is, when it may be needed, and what the ATO says about invoices for GST-registered businesses.

Learn how the ATO explains cash and accrual accounting methods for business income and GST.

Understand what business income means and why it matters for tax reporting.

Understand the records small businesses should keep for tax, GST, deductions, payroll, and reporting.

Learn the general ATO rules for claiming business expenses as tax deductions.

Learn what PAYG instalments are and how they help prepay expected tax on business and investment income.

Find out when a small business may need to register for GST and what the ATO says about registration timing.

Understand what a business activity statement is and what small businesses may report through it.

Learn what GST is and when it may matter for Australian small businesses.

Understand common small business tax obligations including income tax, GST, BAS, PAYG, deductions, and records.