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Resources

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FAQs for Individuals and Businesses

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According to the Australian Taxation Office website, receipts and records for individuals should be retained for a minimum of five (5) years. Businesses need to retain records for a minimum of five years as well, however these records must include receipts, GST documents, tax invoices and wages as well as all records pertaining to tax returns.

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A great article dealing with this question can be found on the “Business News Daily” website. In summary, a bookkeeper merely records a company’s day-to-day transactions, whereas an accountant verifies the transactions and delves further into the company’s financial situation. A CPA designation is a higher certification level, recognised globally. Whilst all CPAs are accountants, not all accountants are CPAs.

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Useful Websites

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The ATO website has a wealth of information regarding setting up a business, business and individual tax return advice, and tax rule changes. A great starting point.

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Creative + Business is designed for the creative – photography, art, media, music – all to help you build a business around your passion. From resources to workshops, this website has a wealth of information and networking possibilities for the creatively minded.

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Copyrights, trademarks, patents, legal documents and signatories – all of these will need to be done now and again when you start a business. They can steer you in the right direction, especially for the creative industry.

https://www.artslaw.com.au/

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Whether it’s tips and advice about marketing or team leadership, this is a perfect website for the startup business. When you’re doing it all, you need all the help you can get and this is a great free site for it.

https://www.entrepreneur.com/

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Geared towards the Australian small and medium sized businesses, this site has stacks of information regarding marketing, taxation, business news, and technology. Another great resource for your retinue.

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The Pen Accounting Templates

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Download Here

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This list is a general guideline for the most typical areas of deductions and their basic deductibility or non-deductibility, with reasoning or areas of exceptions.

Download Here

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