Conducting an internal audit is a smart move for a business. it can prepare them for the tax audit and ensure that nothing comes out of it. If you are worried that you might be chosen for a tax audit, you can prepare for it by getting audit insurance.
From the product development and design to manufacturing and marketing, you have to remain on top of all aspects of your business. A slight error or anomaly can hurt your business later on when an external audit takes place. This is where the need for an internal audit emerges.
Did you know 86% of young Australians want to be influencers? In fact, according to a 2018 study conducted by popular phone brand OPPO, 46% of Australians aged 18-24 indicated that travel blogging as their full-time career preference, followed by food blogging (16%) and fashion blogging (9%). As a working citizen in Australia, Influencers also have to pay tax.
As a business owner it is crucial to be aware of some of the basic accounting principles associated with them, that ultimately govern your business. This might make the accounting system a little more user-friendly for business owners; but as long as there is taxation in this world, there will be accountants, and as long as there are accountants, there will be accounting jargon.
Want to learn how to apply it easily and quickly? We have put together the complete CGT guide.
No matter if you are a small business owner, or an individual who would like assistance with their financial handling, the team at Shoebox Books can assist you. As bookkeeping professionals based in Australia, we are well-versed and specialised in Australian taxation regulations.
Our concept is simple: keep all your receipts and invoices in your shoebox and we’ll do the rest! The aim? To help small businesses succeed by taking the stress out of book work & allowing them to ...
