If you don't comply with tax legislation - through ignorance or incompetence - you may well get landed with back payments and penalties which could send you broke. Complying with Australia's complex legislation is such a headache for the small business owner that most hand all the responsibility over to their accountant.
This book explains clearly and concisely the most common tax questions to enable that readers go to their accountants already informed and knowledgeable to some extent on their obligations. It covers all areas of taxation that small business owners are likely to encounter. What expenses you can and cannot claim, what you can depreciate; there are chapters on GST and compiling and filing BAS and IAS, FBT, and record keeping.
