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Essentials to strengthen your small business.

The ATO’s Essentials to Strengthen your Small Business portal is your first stop for business advice. There are helpful tips covering everything from having your first business idea, through to founding a start-up, growing a business and even help on exiting the business.

From a tax perspective, there are several courses to help you keep your tax on track:

• Starting a business – this course helps you set up your first business, with advice on common business structures and the registrations you need to run a small business.
• Using your business money and assets – this course gives an overview on paying yourself, with advice on the different options and the records you must keep.
• Record-keeping – advice on using technology to help your mandatory record-keeping, and on overview of the tax and super records you’ll be required to keep.
• Claiming small business tax deductions – this course covers expenses you can deduct immediately, expenses you can deduct over time and expenses you can never deduct, as well as motor vehicle expense deductions.
• Growing your small business – This course helps you plan the growth of your business, alongside other considerations like GST and capital gains tax (CGT).
• Goods & Services Tax (GST) – an overview of who must register for GST, how to calculate GST on sales and purchases, as well as other requirements such as invoicing, record-keeping, and reporting GST to the ATO.