Knowing how the tax system applies to your business can save you hassles down the track and even help you to avoid unexpected debt.

If you‘ve just started a new business or you’re thinking about setting one up, our Tax basics for small business webinar series can give you a head start on understanding your tax and super responsibilities.

The series is made up of 12 sessions that run for about 45 minutes each. The sessions cover useful topics like:

• budgeting and record keeping
• income and deductions
• how to complete an activity statement
• your responsibilities as an employer (including superannuation obligations).

Registering is easy and the sessions are interactive.

Don’t stay in the dark – we’re here to help so come along and get your questions answered!

Next step:

• Check session availability and register for our Small business webinars.

​If you would like further details please click here.

Do you know one of the easiest ways to help your business is to lodge your BAS on time, every time?

This includes lodging your BAS by the due date even if you can’t pay on time or you have nothing to report.

Not only can you avoid late lodgment penalties of $180 or more, you can also better manage your payments and keep your debt from growing.

Here are some handy tips to help you lodge and pay your BAS on time:

• set yourself due date reminders using our key dates tools in the ATO app or the Small business newsroom
• lodge your quarterly BAS online to gain a two week deferral of your due date
• work out how much you’ll owe early on so you have more time to set aside your payment
• pre-pay amounts towards your expected tax bill or pay early if you know you’ll be away on the due date.

If you need support with your payments you can phone us on 13 28 66. We’ll work with you to find the best possible solution for your situation.

Make the right move for your business and start 2016 on the right track. Lodge your BAS on time, every time this year.

Next step:
Download the key dates relevant to you from the Small business newsroom calendar or get the ATO app to use the key dates tool on the go.

​For further details please click here.

If you have workers, don't forget that their super guarantee payment for the last the quarter is due 28 January 2016. If you have not already, you need to pay a minimum of 9.5% of each eligible employee’s ordinary time earnings (OTE) in super to a complying fund by the due date.

Unlike other payment types you may make in business, super contributions are only counted as paid when the super fund receives them. That’s why it’s best to make any payments well before 28 January to ensure they reach the super fund on time.

If you're a business with less than 20 employees, or have an aggregated turnover of less than $2 million, you can use the Small Business Superannuation Clearing House to save time and avoid the super guarantee charge.
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It’s fast and easy to use because you pay all of your super contributions in one transaction and the clearing house will distribute your payment to the various super funds on your behalf.

Start saving time by using the clearing house this quarter.

For further details please click here.

From 1 July 2015, car expense deductions for individuals were simplified.

​If you pay your employees a car allowance, you need to withhold tax on the amount you pay over 66c per kilometre.

​If you want further details click here.

An interactive online tool to help small businesses understand and meet their tax and super obligations.

​Small business assist provides easy access to information for both new and established businesses on a range of topics. You simply type in a question and it will provide tailored information from a range of websites. The information is displayed in an easy-to-read format that allows you to get support at any time.

Information can be found on a range of topics including:

• registering for an Australian business number
• understanding and registering for GST
• employer obligations
• lodging activity statements.

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Go to Small business assist to access these additional support services.

• Search 'after hours call back' to book an after-hours call back from us, to occur between 6.00pm and 9.00pm Monday to Thursday.
• Search 'web chat' to web chat with us between 3.00pm and 9.00pm Monday to Friday, and from 10.00am to 4.00pm Saturday.

Click below for further details:
https://www.ato.gov.au/Business/Starting-your-own-business/In-detail/Small-business-assist/

With only two quarters left until SuperStream becomes mandatory, employers are being urged to cross SuperStream off their ‘to-do’ list ahead of the 30 June 2016 deadline.

It takes a little time to set up, but over a quarter of a million employers who have made the change are already enjoying (on average) a 70% reduction in the time they spend on super. That equates to approximately 1.5 hours each cycle! If you haven't done so already your options to get ready include:

• upgrading your current payroll software - we recommend using Xero which has the add on 'Auto Super'
• using your super fund’s online system - for example AustralianSuper has 'QuickSuper'
• using a messaging portal - a gateway service normally provided for SMSFs
• using a clearing house - like the ATOs free Small business superannuation clearing house.

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For further details please click here.

The government has made changes to the cents per kilometre method. From 1 July 2015, separate rates based on the size of the engine are no longer available. You use a single rate of 66 cents per kilometre for all motor vehicles for the 2015–16 income year. The Commissioner of Taxation will determine the rate for future income years.

Click here for further details.

To make it easier for you to manage your tax, you can now pre-pay your activity statements before their due date. You can make a pre-payment at a time that suits you, using any payment method.

In the past, the ATO would automatically refund credits from early payments. Now, a pre-payment made towards a tax liability before it's due will remain on your account unless a refund request is made through the Portal. The ATO may use a pre-payment to offset debts.

​For further details please click here.