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Starting a small business
67 mins Add to my pathway Remove from my pathway
Are you thinking of starting a small business? Maybe you have a hobby that’s becoming a business? This course will help you understand the difference between a hobby and a business, the most common business structures and the registrations you may need to run a small business.
- Idea
- Start-up
Setting up your small business
50 mins Add to my pathway Remove from my pathway
There are several common factors shared by successful small businesses. Set your business up for success using digital options that are appropriate to your business needs, gain an awareness of action in your business that trigger tax obligations, keep accurate business records, and know where to seek professional help.
- Idea
- Start-up
- Day-to-day
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Record keeping
83 mins Add to my pathway Remove from my pathway
Did you know that successful businesses keep good records and use technology to run their business? Good record keeping helps you know the state of your business at any time which helps you manage your business successfully. You’re also legally required to keep records of all transactions relating to your tax and super affairs while you’re running a business.
- Start-up
- Day-to-day
Cash flow for small business success
30 mins Add to my pathway Remove from my pathway
Cash flow management is critical to the success of any business. In this course you will learn critical cash flow management skills to work out your cash flow position, analyse your cash flow, test potential cash flow improvement strategies and to track and monitor your business cash flow.
- Start-up
- Day-to-day
- Change
Using your business money and assets
45 mins Add to my pathway Remove from my pathway
There are several options on how to pay yourself if your business is a company or trust. It’s important to understand the options and their different rules and record requirements so you can be sure you’re paying yourself correctly.
- Start-up
- Day-to-day
Goods and services tax (GST)
41 mins Add to my pathway Remove from my pathway
This course outlines who must register for the goods and services tax (GST). You will learn how to register for GST, how to calculate GST on sales and purchases and other business-related requirements, like invoicing, import/export implications and how to report GST to the ATO.
- Start-up
- Day-to-day
Claiming small business tax deductions
46 mins Add to my pathway Remove from my pathway
Small business can claim tax deductions for most business expenses. This course covers expenses you can deduct immediately, expenses you can deduct over time and expenses you can never deduct. Motor vehicle deductions are also covered in this course.
- Start-up
- Day-to-day
Claiming deductions for your home-based business
33 mins Add to my pathway Remove from my pathway
Running your small business from your home may cost you more in expenses such as electricity, gas, phone, furniture, and cars. Find out what expenses you can claim for tax deductions and how to calculate the amounts you can claim.
- Day-to-day
Strategies for improving your cash flow
24 mins Add to my pathway Remove from my pathway
Cash flow management is critical to the success of any business, but it’s not always easy to find ways to improve your cash flow. Examine your business for potential improvements using your financial records and the digital business performance check tool. Explore seven key strategies that may improve the cash flow of your business.
- Start-up
- Day-to-day
Recording business income and expenses
26 mins Add to my pathway Remove from my pathway
Keeping accurate business income and expense records and recording these correctly in your tax return saves you time and money. Learn how to set up a system that accurately records income and expenses and allows you to easily transfer these to your tax return at tax time.