Accounting & Tax For Small & Medium Business

the strategies & information you need to reduce your tax


Accounting and Tax isn’t something you google for fun – so you’re here because you’re looking for something. Maybe you’re just starting a business or maybe you’ve already got an accountant, but either way, you only want to pay your fair share of tax

Accounting & Tax for small business is pretty boring, we get it.  Nobody wants to read about the latest changes in tax legislation.  But what you do want to know is how to get up to date and squeeky clean with the tax office, and ensure you're only paying your fair share of tax.  


Below you'll find the most important articles we've published to help you reduce your tax and sleep easy knowing your accounting and tax is under control.

Australian Resident For Tax Purposes Explained

If you’re an Australian resident for tax purposes you pay tax on your worldwide income.  This can have a massive impact on how much tax you pay.  So in this article you’ll learn when you’re considered an Australian tax resident, even if you don’t have permanent residency or visa, what happens on entering the country,

Read More

Tax Minimisation and Planning For Small Business

Tax Planning. What a phrase. It gets bandied around a bit, actually, probably just by accountants.  But clients tend to nod their head and agree that yes, if you say we need to plan our taxes, then we probably should. So what the hell are we talking about? In my mind its two-fold; Tax Minimisation

Read More

What Happens If You Take Cash Out Of A Company? Division7a

Got a company? I mean a real company, as in a Pty Ltd legal structure, Yeah? Then this one is for you. In fact it’s a really really big one for you. Why? Because 99%* of companies have this problem or will have this problem in the not too distant future.  Lay it down for me Nathan. Righto, well to explain

Read More

Register For GST

How do you register for GST? And what happens when you do register for GST?  Find out this and how you become the nation’s (unpaid) tax collector. Exciting times right?  Let’s get into it.GST RegistrationBusinesses are required to have a GST registration once their turnover hits the GST threshold.  Having GST registration means the business

Read More

Tax Tips

Your here for the list, not an intro, so let’s get straight into it –  10 tax tips you can use any time of the year;Keep receiptsYou’d be surprised the number of times we’ve heard “but we don’t have the receipts”. C’mon people it’s 2020. Whip out your phone, take a photo of them. Recycle

Read More

The Balance Sheet Explained

It’s not how much you make it’s how much you keep – right?  In your personal life this is represented by the amount you’ve saved, and the value of investments less debts.  You can tell if you’re making progress by comparing this to a prior period, like last year.  And this is no different for a

Read More

Want to Get More Like This?

Sign up below to get our General Journal. A once a month look at all things business, economics, and politics with just the right amount of satire, puns and tongue in cheek-ness (and light on accounting and tax). We guarantee you've never had an accountant send you something like this before


Copyright 2019 - Watson & Watt   -   Disclaimer

Liability limited by a scheme approved under Professional Standards Legislation