Basic Accounting for Basic Chicks

Hey Queens!
On today's episode, we chat with our legend accountants Andy Hollis and Taylor Gibbards from @boutiquebusinesshouse. They discuss all things tax-related and share helpful tips on starting a small business from the ground up.

Breakdown of this episode
- Individual and small business tax 
- Impacts of COVID and what this means for your tax
- What is the tax-free threshold?
- Jobkeeper/ Jobseeker
- 3 golden rules of claiming on your tax
- Misconceptions of claiming
- Deadlines for lodging tax
- Paying tax on a 'side hustle'
- Salary sacrificing
- Tips on setting up a small business
- Different structures of business plans
- Sole trader v Partnerships
- Trust accounts
- Hidden overheads when starting a business
- Understanding GST
- Tax vs Bas
- HECS debts
- Resources and helpful apps to download

Checking The Tax on Your Income

• www.paycalculator.com.au
• www.taxcalc.com.au

Software Apps Used by Jagger & Stone

• Xero
• Receipt Bank
• Shopify
• Indigo8
• Slack

ATO Approved Logbook Apps

• Australian Taxation Office (ATO)
• Driversnote
• GoFar

Checking Your HECs Debt Balance & Other Tax/ATO Data

• MyGov

The information, statements, comments, views, and opinions provided in this podcast are general in nature, and such information, statements, comments, views and opinions, and the receipt of this podcast by any listener, are not intended to be and should not be construed as the provision of investment or professional advice by Boutique Accounting House, to that listener or generally, and do not result in any listener being considered a client or customer of Boutique Accounting House. The information, statements, comments, views, and opinions expressed in this podcast do not constitute and should not be construed as an offer to claim certain tax deductions or to set up new business structures.

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CREDITS:

Hosts: Lucy Jackson @Lucykatejackson & Nikki Westcott @nikkiwestcottt @wethe_wildones
Guest: Andy Hollis and Taylor Gibbards @boutiquebusinesshouse

Executive Producer: Courtney Mangan @courtneymangan

Technical Producer: Aaron Butler @aaronbutler_

To shop Jagger & Stone visit http://www.jaggerandstone.com

See omnystudio.com/listener for privacy information.