Understanding key tax concepts is vital to running a successful business. You can have a strong business idea, strategy and marketing, but not knowing how to account for goods and services tax (GST), keep good records or make provisions for income tax can put you on the back foot financially.
This workshop gives existing and aspiring small business people a high level overview of tax matters impacting them. The workshop is made up of two 2 hour sessions and explains how to set up simple financial systems, record transactions and provide you with the knowledge needed to have informed conversations with an accountant or the Australian Taxation Office (ATO).
Main topics covered
Session one:
The ATO’s definition of a business
What is assessable income?
Tax deductions
Record keeping obligations
Session two:
Business structures
The basics of capital gains tax
Capital allowances (depreciation and the instant asset write-off)
GST
Who it’s for
This workshop is suitable for people who are in business, or looking to start a business, and want to understand the key tax concepts needed to run a successful business.
What’s included
Access to the live workshop
A recording of the workshop which you can access for up to seven days post event (online workshops only)
Copies of any resources shared with attendees
About the presenter
ECU is ranked Australia’s top public university for ‘Business and Management’ in quality of educational experience, teaching quality, skill development, and student support. With course content developed in consultation with industry groups and the latest theory with hands-on, practical experiences it a great option to build your professional skills and knowledge. Their presenter is a former Assistant Commissioner with the Australian Taxation Office (ATO) and has run a number of small businesses, so he understands the issues facing small business owners.
