February 4, 2018

So your business is going through a tough time, building up debt, dropping clients and running out of working capital. To minimise any financial and personal stress and has the best chance of full business recovery, it's important you confront the challenges quickly. 


January 30, 2018

Running a business is tough, it takes more than just dedication and professional skills to make a business success. We have seen many talented sole traders fail their businesses through poor tax compliance. They do not keep their bookkeeping up to date, prepare their t...

January 16, 2018


Failure to lodge penalty may be applied if the return or statement is not lodged within the required time frame. The penalty is calculated at the rate of one penalty unit for each period of 28 days that the return or statement is overdue, up to a maximum of five...

October 30, 2017

The majority of the business end up failing within the first few years. Many of the business failures are due to inability to generate enough profit.

Among the many reasons why business is not profitable, we find the top three reasons are Low Price, Too Much Overhead Co...

June 22, 2017

With only two weeks to go until the end of the financial year, it is time to start reviewing your tax. In the following paragraph, we will talk about how to get your tax in order and minimize your tax.  

Calculate Your Profit

The first thing is to know how much you are e...

May 18, 2017

There is no secret for personal budgeting. There are three general rules in all the formulas:

1. In the long term, we do not spend more than we can earn.

2. We might be able to borrow money to cover cash flow shortage.

3. Does not matter how much money we borrow, the debt...

May 5, 2017

if you run a business, have more than $10K outstanding tax debt which is overdue for at least 90 days, and you do not have a payment plan in place to manage it. Then you should read the following information very very carefully. 

From 1 July 2017, the Australian Taxatio...

April 28, 2017

Payment plans is an effective way to manage the tax debt. But it may not work for all cases.

May 8, 2016

The Australia Taxation Law authorize ATO to impose penalties and interest on a range of late payment. Including not lodging on time and making a misleading claim. Under a lot of circumstances, taxpayers are imposed with heavy penalties and interests. And sometimes the...

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