The research and development tax incentive (R&DTI) is only growing in value and scope, with a new Australian Taxation Office (ATO) transparency report detailing $16.2 billion in claims recorded over the 2022-23 financial year. And for the second year in a row, software giant Atlassian is the nation’s top claimant, reporting more than $220 million in… Read more »
Going global is often seen as a rite of passage for many Australian scaleups as it can provide the company with access to new overseas markets, a broader pool of investors or the ability to attract and retain key talent from around the world. During this period of growth, founders often focus on product-market fit,… Read more »
Bitcoin is ubiquitous. It is impossible to open a social media stream or news source without encountering yet another mention of the topic. Many Australians have invested, hoping for a good return. But they may not have considered the tax consequences of their investments. So some might be in for an unexpected surprise. The tax… Read more »
It’s an exciting time in your startup – you have just successfully raised $1 million in your first formal seed round. Now attention goes to spending that investment capital to pursue your growth objective. It is easy to get giddy with excitement about deploying this capital. But what about the rights of your new shareholders?… Read more »
Hnry believes sole traders should have access to world-class tax accountancy services. They say there’s no other certainty in life than death and taxes, but for many sole traders, doing their taxes is a kind of death. Death by a thousand numbers, receipts, deadlines and obligations. It’s enough to kill the startup dream. Then along… Read more »
Google has settled a long-standing dispute with the Australian Taxation Office (ATO) agreeing to pay an extra $481.5 million in additional tax in a major financial win for the federal government. The search giant’s agreement follows in the wake of similar deals with Microsoft, Apple and Facebook as part of a multinational e-commerce crackdown by… Read more »
It’s almost 30 June, which means a new financial year. Before cracking open the champagne for your EOFY party, there’s a few things to consider beforehand in terms of good tax planning. Startup Daily spoke to Stuart Reynolds and the accounting team from Fullstack Advisory, who put together some key review areas for… Read more »
Here are five of the most common traps we see businesses falling into at tax time, along with some tips to help you avoid them.
Donation Manager allows a charity to quickly generate donation receipts for donors, a process which most small to medium charities are doing manually.
The government on Friday struck a deal to see the Senate pass a number of the tax cuts for businesses proposed in its 2016 Budget.
MYOB has launched Advanced People, a new cloud payroll solution designed to help mid-market businesses manage their payments.
So you’ve decided to go out on your own. You may be a marketing / IT / Events / PR / Human Resources consultant. You’ve just landed your first client – check! It’s a big client too – even better. This means that most of your company income will come from the one customer. Makes no difference for tax, right? Wrong.
Your startup is now at a stage where there’s money in the bank and / or a regular income stream to start paying yourself. Brilliant! So just how do you go about paying yourself?
One area which causes a lot of confusion amongst startups (and businesses of all sizes) is around meals and whether they can be claimed as a tax deduction.
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