Essentials.jpg      Starting and running a small business is a massive commitment.  Unlike big businesses that can hire legions of staff to perform all sorts of roles, small business owners end up doing most jobs.  This section provides insight into some key issues for every small owner to think about.

Tax Tip #10: Time your purchases 26 June, 2012
For concessions such as the general business tax break and immediate deductions for prepaid expenses, timing is everything.
Tax Tip #9: Invest in new assets 25 June, 2012
If you're thinking about buying or have just bought some new equipment or machinery, you could qualify for a 50 per cent tax deduction.
Tax Tip #8: Prepay your expenses 21 June, 2012
If you prepay expenses for goods or services rendered during the current financial year, you can qualify for an immediate tax deduction. Read more to find out how.
Tax Tip #7: Pool your assets 20 June, 2012
Here's how you can pool your business assets to reduce the amount of paperwork when lodging your annual tax return.
How to apply for government grants 20 June, 2012
Obtaining a government grant can help your business expand and innovate, but applying for one can be time consuming and complicated. Here is a step by step guide on how you can apply for a grant and what to watch out for.
Government assistance for minority employees 19 June, 2012
Employees are rarely considered as an area that could receive government assistance but there are a number of grants available to businesses that hire mature-aged workers, indigenous workers or individuals with disabilities. Read on to find out what they are.
Tax Tip #6: Write off bad debts 19 June, 2012
If an invoice hasn't been paid in the past 12 months, it may be time to write off that bad debt and wipe your slate clean for the new financial year.
Three ways to reduce your business energy usage 18 June, 2012
While small businesses are not directly impacted by the upcoming carbon tax, they may feel the flow-on effects by way of increased input costs and more expensive energy usage.The following tips can help you minimise these effects by reducing your business energy usage.
Tax Tip #5: Value your stock lower 18 June, 2012
At the end of the financial year you are required to stocktake and declare your trading stock value. Read on for more details on you can value your stock lower to claim more deductions.
Tax Tip #4: Read up on industry-specific rules 15 June, 2012
Businesses in certain industries and geographical locations qualify for specific tax reporting rules, so read on to find out what they are.

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