As the October 31st due date for tax return lodgement rolls around, ABC News interviewed Assistant Commissioner of the ATO, Karen Float, about some of the crazy excuses some taxpayers have used to explain their late, or complete lack of lodgement.
Have you ever been at the shops and seen something you would like to buy and thought whether or not it is tax deductible? As accountants we are constantly asked what can and can't be claimed come tax time. So we thought we would list our 5 all time favorites.
Cash flow is the oxygen of a business, without good cash flow a business suffocates. With GST payable every three months for most businesses and Income Tax payable every year it can be easy to lose track and fall into a cash flow hole.