Apply now for the Small Medium Enterprise (SME) Recovery Loan Scheme with a participating lender. It is only open to applications until December 31, 2021, so get your application in now if your business meets the eligibility criteria.
When you sell a major asset such as real estate, you are likely to either have either a capital gain or a loss. This is the difference between the price you paid for the property and how much you sold it for.
The 2018 Federal Budget was boring and did nothing.
Small businesses can choose not to conduct a formal stocktake at the end of their income year if the estimated value of their trading stock has not changed by more than $5,000. This rule, known as “simplified trading stock rules,” commonly gets overlooked, especially by new businesses. If this choice is selected, the ATO says the business is not required to account for the incremental changes in their stock’s value. However, in order for the ATO to find the business’s estimate reasonable, the following requirements must be met:
