Take Control of Your Business

The most effective way to take control of your business is to understand the tax rules and the business basics that apply to every stage of your business.

 

Getting Started

What type of business should it be? What do you need to do before you get started? What sort of financial information do you need before you make a decision to start a business? Will you need an Australian Business Number? Will you export goods or services overseas? What records do you need to keep when running a business and how will you do so? Do you know how Goods and Services Tax works? What deductions are you entitled to claim? How often do you need to lodge your Business Activity Statement? How will working from home affect your tax?

For an introduction to your tax needs, visit the following websites for information products and services:

To help you understand and manage your business tax responsibilities, review the following:

 

Running Your Business

What is the best way to change your business structure? What are your responsibilities when you have employees? Are you entitled to foreign income tax offset? How do you treat payment you make to an independent contractor? How do you do your tax electronically?

To keep your business running smoothly, consider the following:

For information about doing business overseas

 

Existing Your Business

Did you know you need to let the ATO know if you cease trading altogether? Did you register to operate a business but never actually traded? What are the tax implications of selling or transferring ownership of your business? Have you considered your capital gains tax obligations?

Read the following:

If you’ve got the questions Waterford Accountants has the answers. Visit http://www.ato.gov.au/businesses or www.ato.gov.au/smallbusinesssupport for further information.

 

 Web Resource Links

 

Business

Stock Market Quotes – ASX 
Real-Time Stock Market Quotes – SSBA 
Company Name Search 
Business Name Search 
Business Directory
Telephone Directory – Whitepages 
Telephone Directory – Yellowpages 
NSW Office of State Revenue 
Domain Name Directory / Search 
Government Information (NSW)

 

Taxation Resources

ATO Home Page 
Tax Rates 
Tax Rulings 
Tax Legislation

 

Finance

Citigroup Australia and New Zealand 
Interest Rates 
Loan Calculator 
HP Calculator 
Exchange Rates (RBA) 
J P Morgan

 

Banks

Westpac Banking Corporation / Bank of Melbourne 
Australian and New Zealand Banking Group 
National Australia Bank 
St George 
Bendigo Bank 
Bank West 
Commonwealth Bank of Australia 
Macquarie
Investec

 

Accounting Software

Solution 6 Australia 
M.Y.O.B. 
Quicken

 

News and Weather

Ninemsn
The Age
The Sydney Morning Herald
Australian Financial Review
The Daily Telegraph
The Australian
Weather Forecast
What’s On (City Search)
ABC News
Football
Cricket
Finance

 

Miscellaneous

PGA Tour Australia 
Tennis Australia