With Bitcoin use increasing in Australia, there has been little guidance to date from the ATO and other regulatory authorities about the accounting and tax treatment of this payment method. So we have put together a list of some of the key accounting and tax questions you may have when using Bitcoin.
Category: Finance & Accounting
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?
If your startup is having a Christmas party or you give Christmas gifts to staff, it’s important to be on top of the tax rules which apply.
I really am not a fan of invoicing clients, there is always a risk they won’t pay the bills on time and it’s going to fuck up my cash flow.
When it comes to hiring, a common area of confusion for startup founders is whether their new hire is in fact a contractor or an employee.
When it comes to moving beyond ideas phase to actually ‘starting’ your startup, one of the first decisions you need to make is what structure your business will be.
There are so many different tax requirements that startups need to worry about. From when to pay GST to when to lodge a tax return to when to start paying superannuation, the list starts to get very exhaustive.
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.