Starting your own business is a wonderful way to get out into working for yourself and answering only to yourself. However, it is critically important that you understand your tax obligations as a business owner from your first day of trading. Too many businesses find themselves in trouble with the Australian Tax Office because they were not prepared or informed about this subject. My financial blog is designed to inform first-time business owners about tax. From setting up accounting systems to ways to legally reduce your tax bill at the end of each financial year, I hope that these tips, alongside advice from a professional accountant, will make it easier for you to travel the tax highway.
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