My partner and I recently started out in a turf laying business. We are contracted work by a turf supplying company, he then pays the boys a gross income as they are running under an ABN like us.
We are not particularly well off and we don’t make a profit, just a living.
I’m just wondering if there is anyone that is willing to offer a bit of beginners advice on how and where things need to be lodged in regards to BAS, Tax Returns, etc ? I’m not needing someone to do it for me, just rather guide me.
Any help would be sincerely appreciated and I understand it is only an opinion, not professional advice.
I agree with Todd,
Spending money on a Professional to assist you with this will save you alot of time, headache and potentially stop you from making a mistake which may cost you thousands of dollars especially if you don't pick it up early and do this over several years.
You may see it as an unnecessary expense, however if it can work you should put it in your fixed expenses.