So you’ve picked the perfect name for your business and you’re ready to take the exciting step of registering it and making it your own. But how exactly do you go about registering a business name in Australia? This is exactly what our guide and video will show you. 3 Main Ways to Register a…
Coming up with the perfect name for your business can be as difficult as coming up with a name for your first child. That’s because your business’ name is an important part of your branding and how customers perceive your business, so you want it to stand out in a good way. And as someone…
When we hear the word blockchain, most of us think of cryptocurrency. But there’s a big difference between blockchain and cryptocurrency. And it’s the blockchain that many prominent businesses are interested in. Companies like Walmart are using or experimenting with blockchain technology to improve the way they do business. A lot of innovation is happening…
Do you run a business where you need to provide clients with a quote before they agree to hire you? But what exactly is a quote, how do you make one, and what happens after a quote is accepted? These are the questions our guide and video will answer to help you discover what you…
Have you ever sent an invoice to your customer only to realise later that you charged them the wrong amount? Or have you received an invoice from a supplier but the quality of goods or services they provided wasn’t up to scratch so you feel you shouldn’t have to pay the full price? Situations like…
As a small business owner, you may find yourself having to produce a purchase order. And while you may have heard of it, you might be wondering what exactly is a purchase order. That’s a good question. In this guide, we’ll break down the purchase process and simply explain what a purchase order is, how…
So, you want to be a sole trader? Or you’re curious about what it means. Well, you’ve come to the right place. Put simply, a sole trader is a self-employed person who runs a business that typically consists of them, however they can employ others to help run their business. When you want to start your own…
If you were asked to explain GST, what would you say? Would it go something like this: “It’s a tax you pay on things you buy.” If so, you’re not alone. This was the typical response people gave us when we did a quick street poll on the topic – and while it’s not a…
Not all goods and services sold by businesses include 10% GST in the price. One type of sale that fits this description is called Input-Taxed. One of the most common types of Input-Taxed sales are financial supplies such as loans, bank account fees, life insurance, superannuation, shares and bonds. Residential rent, the money renters pay…
Goods or services that are BAS Excluded are outside of Australia’s Goods and Services Tax (GST) legislation, which means they are not subject to 10% GST. These transactions are also called “out of scope”. Some of the most common BAS Excluded items are: Wages and superannuation Depreciation Loan payments Dividends Stamp duty Gifts made to…
Did you know GST-free sales and purchases are actually not free from Australia’s Goods and Services Tax? A little bit confusing, hey? Don’t worry, let us break it down for you. There are many goods and services that you buy and sell that are GST-free, including milk, bread, eggs and some childcare, healthcare and educational services. They…
There are two scenarios in which you may register to collect and pay Goods and Services Tax (GST) in Australia: You are required to. You do so voluntarily. When You Are Required to Register for GST The rules governing whether you are required to register for GST are straightforward. If one of the following rules…
