Resources & Links

Resources To Help You

There is a wealth of information available to assist you with all of your taxation matters. The Australian Taxation Website (www.ato.gov.au) is always a good start. They have a range of information available that gives you a good overview of your taxation obligations. It covers a range of topics for individuals, businesses and Self Managed Super Funds.

New to business?

While we can assist you with setting up your business there are some things you will need to consider.

Below are some of the questions you will need to consider before starting a new business:

  1. What do you need to be aware of before you get started?
  2. What financial analysis do you need to do before you make the decision to start a business?
  3. Do you need an Australian Business Number (ABN) and do you need to be registered for GST?  
  4. Do you know what records you need to keep when running a business and will you require a bookkeeping software program?
  5. How often do you need to lodge your Business Activity Statement (BAS)?

For the answer to these and many other questions, please click on the links below: 

www.business.gov.au
'How-to guides' for when you are thinking of starting a business 

www.ato.gov.au/smallbusinesssupport
Information about what you need to consider before starting a business

www.business.gov.au/checklist
A great source of business information

All businesses have taxation obligations, and the ATO has some great publications outlining what is required: 

GST for small business

Income tax and deductions for small business

PAYG withholding for interest, dividends, and royalties paid to non-residents

You’ve decided to shut up shop?

Deciding to sell or close a business is never an easy decision and we are always available to assist you with ensuring this is done as painlessly as possible. There are some factors you need to consider when making this decision:

  1. Will you be liable for any Capital Gains Tax (CGT)?
  2. Will there be any other tax implications of selling or transferring ownership of your business?
  3. Do you need to let the ATO know if you cease trading? And what about your GST registration?

For the answer to these and many other questions, please click on the links below:

Ceasing your business

Selling or closing your business - things to consider

Leaving the GST system

These links are for information purposes only. We would always recommend that you speak with your accountant before you set up or purchase a business, while you are trading and before you make the decision to sell or close. Business ownership can be rewarding and being prepared by having all of the information in advance is always the best option.

 

Need some help in running your business?

Circumstances change, your business grows, your business contracts – do you need information regarding your options? We can assist you with that also.

Below are some questions to consider when running a business:

  1. Do you have the correct business structure to suit your needs?
  2. Are you aware of your obligations as an employer?
  3. Do you know the difference between an employee and a contractor and how it could affect the payments you are required to make?

For the answer to these and many other questions, please click on the links below: 

Tax basics for small business

Record keeping for small business

PAYG withholding

Guide to foreign income tax offset rules

Super – what employers need to know

Fair Work Australia

Other useful links include:

www.asic.gov.au - This is the regulatory body for companies in Australia.  You can also search for ACN’s or Company names on this site.

www.abr.business.gov.au - This site allows you to search business names and ABN’s.

www.treasury.qld.gov.au - This the link to the Office of State Revenue in Queensland.  On this site you will find information about land tax, payroll tax and other QLD duties.

www.asx.com.au - This is the site for the Australian Stock Exchange which provides information on individual share prices and market movements.

www.computershare.com.au - This site allows you to access your current shareholding and dividends received for a particular Company.

www.linkmarketservices.com.au - This site allows you to access your current shareholding and dividends received for a particular Company.

 

General Advice

The information provided by Bentleys (Sunshine Coast) Pty Ltd does not constitute financial product advice and is for general information only. It is written without taking into account any individuals personal objectives, situation or needs, and is not intended as professional advice. Any person acting upon such information without receiving specific advice, does so entirely at their own risk. Please contact your Accountant to discuss your personal situation before relying on this information.