As your accountant it is part of my role to supply each of my clients with the most up to date information for the ATO.
I do spend a lot of time scrolling through the ATO website for information that I think is relevant to the trades based businesses that I service.
I will admit there is a lot to scroll through, however it is worth it, as especially at the moment as small business is still recovering from the pandemic and now some of the most catastrophic natural disasters our community have seen, the ATO have stepped up and are providing assistance through information and support for business to ensure they can get back on their feet and thrive once again.
Every year the ATO updates their Small Business Toolkit, it is an information booklet that has an in depth look at what businesses can utilise through the ATO and how small businesses can take advantage of the resources available as well as specific dates that are relevant to meet their financial obligations.
I really like this toolkit as it is up to date and offers one source of truth, which is helpful for the small businesses that don’t
have an accountant or the time to spend the hours (like I do) cruising the ATO website on a Saturday night.
This year’s updates include, how to claim digital expenses, and they have expanded on the fact sheet, ‘ using business money and assets’. The toolkit is comprehensive, but easy to read and follow with lots of links to other external pieces of information that you may need for your specific use.
Here is another useful page that I find helpful,
This page has a list of resources including the ATO’s very own podcast and their TV channel, so if you don’t have time to read, or if you are like my tradie hubby and hates reading anything but the newspaper then check them both out. You never know what you may learn.
For the toolkit, click on the link below to download a copy. If you read the toolkit and feel a little overwhelmed or you would like to have a chat about how you can level up your business, give me a call so we can have a chat.