• I've just started up my own business as a sole trader: what do I need to know about tax?

    Starting up as a sole trader changes the way you report income and pay your taxes. We can make sure that you're ready for the transition, no matter which industry you're from.

    Book a consultation
  • Need accounting software advice and support?

    Our extensive expertise in all aspects of accounting software means you can concentrate on what you do best – running your business. We are accredited Xero specialists and have been MYOB, Intuit and Reckon Partners for many years.

    Learn more about Our Services
  • We want to start our own business: how do we set up the company?

    At PBA Financial Group we specialise in the setting up of start-up and new businesses. We'll set up a solid foundation for your new business so that you can hit the ground running!

    Learn more about Our Services
  • I've always done my own tax returns without the help of an accountant

    More often than not, people who do their own tax returns will miss out on valuable deductions simply because they didn't know what they were entitled to claim, or they incorrectly claim expenses.

    Are you sure your tax return is as accurate as it could be?

    Book an appointment

Latest News

GST reporting: common errors and how to correct them

 

 

Some businesses are making simple mistakes reporting their GST.

Common GST reporting errors are:

  • transposition and calculation errors – these mistakes often happen when manually entering amounts, so it’s important to double-check all figures and calculations before submitting your BAS;
     
  • no tax invoice – you must keep tax invoices to be able to claim GST credits on business-related purchases;
     
  • transaction classifications – it’s important to check what GST applies for each transaction; for example, transactions involving food;
     
  • errors in accounting systems – a system with one coding error can classify several transactions incorrectly; and
     
  • rents and outgoings entitlements depend on the landlords status

 

 

AcctWeb