What are the facts a small business owner needs to be aware of?
You need to know what records need to be kept to substantiate your business expense claims.
You need to understand when a worker is a contractor or when they are considered an employee.
Small business owners need to know what clauses in a contract are enforceable and which ones are a waste of ink and paper.
You need to get your advice and support from registered experts.
Free advice or gossip is usually not worth paying for!
BAS and Tax agents can assist you to process your business transactions.
Look for this symbol.
A VA or admin contractor cannot make decisions on coding or process your transactions, they cannot say if an expense is deductible.
The Tax Practitioners Board sets out who can do what – make sure your ‘experts’ are licensed to assist you.
Also check out the ATO penalties for not doing the right thing!
What ‘Facts’ need more checking before you accept them as truth?
