What is a Sole Trader?

What is a Sole Trader?

by | Small Business

So, you want to be a sole trader? Or you’re curious about what it means. Well, you’ve come to the right place. Put simply, a sole trader is a self-employed person who runs a business that typically consists of them, however they can employ others to help run their...
What is the Cloud?

What is the Cloud?

by | Small Business

The cloud is the Internet; a worldwide system of computer networks. Cloud computing means delivering computer services over the Internet, including services such as storage, networking and software.Previously, businesses mostly ran software downloaded on their...
What is GST?

What is GST?

by | Tax

If you were asked to explain GST, what would you say? Would it go something like this: “It’s a tax you pay on things you buy.” If so, you’re not alone. This was the typical response people gave us when we did a quick street poll on the topic – and while...
What is Input-Taxed?

What is Input-Taxed?

by | Tax

Not all goods and services sold by businesses include 10% GST in the price. One type of sale that fits this description is called Input-Taxed. One of the most common types of Input-Taxed sales are financial supplies such as loans, bank account fees, life insurance,...
What Does BAS Excluded Mean?

What Does BAS Excluded Mean?

by | Tax

Goods or services that are BAS Excluded are outside of Australia’s Goods and Services Tax (GST) legislation, which means they are not subject to 10% GST. These transactions are also called “out of scope”. Some of the most common BAS Excluded items are:...