Tax basics for small business videos

If you are starting a new business, or already running one, this series of short videos will provide essential information about your tax and super obligations.

Business Victoria - How to Calculate Profit and Loss

Business Victoria’s objective is to help foster and promote Australian start-up’s.

Business Victoria provides a financial statement template to help manage your finances. Financial statements that are produced regularly and correctly will provide key information for the continual improvement of business operations.

A profit and loss statement shows planned and actual profit for your business. If you don't have a template for creating your profit and loss statement, use the template below:

If you do not already have a template for a marketing plan, use the template below:

The Business Victoria website has many worthwhile financial tips, tools and expert advise. Download the Financial Statements Template below or visit the Business Victoria website for more.

TGA - Buying medicines and medical devices over the Internet

The Internet can offer consumers a convenient way to access therapeutic goods, but online purchases of medicines or devices should be approached with caution.

Products available on international websites are not regulated by the Therapeutic Goods Administration (TGA). If care is not taken, consumers may inadvertently break the law, waste their money or risk their health.

Without taking measures to ensure a website is legitimate, consumers face risks, including using medicines and medical devices that:

  • are fake (counterfeit)
  • are too strong or too weak
  • contain undisclosed, dangerous ingredients
  • are past their use-by date
  • are contaminated or not manufactured to appropriate standards

Buying medicines and medical devices over the Internet

Fair Work Ombudsman - New pay rate calculator now available

The Fair Work Ombudsman has released its latest online tool, PayCheck Plus.

The tool is designed for employers and employees to quickly calculate base pay rates, allowances, overtime and penalty rates under modern awards. As an employer, you can also use ‘Check my payroll’ – a tool that allows you to match and calculate pay rates for multiple employees.

To start using PayCheck Plus, visit the Fair Work Ombudsman website.

Looking ahead: Preparing small business for the future

Looking ahead: Preparing small business for the future helps guide small business operators through their long-term forward planning by considering how the following themes could impact their business:

  • Access to finance and the macro economy
  • Demographic change
  • Technology
  • Engaging customers and other stakeholders
  • The built environment
  • The policy environment
  • Utility costs

Small Business in NSW: Our Story captures the contribution and characteristics of small business in NSW, highlighting its diversity and key trends.

Looking ahead: Preparing small business for the future

Independent contractors

New handbook about independent contracting

If you’re looking for clear, concise information on independent contracting look no further than's new Independent Contractors: the essential handbook.

The first of its kind, the handbook provides information on a comprehensive range of topics relevant for both independent contractors and their hirers, including:

  • taxation
  • superannuation
  • insurance
  • intellectual property ownership
  • business planning
  • OH&S
  • workers compensation
  • negotiating contracts.

For more information, visit the Independent contractors site.

Australian Taxation Office - Free tax support

Talk to us and get the right tax support to get on with running your business

After talking to us, Australian small business owners find it easier to manage their tax and get on with running their business.

Our business support service gives you access to our experienced tax officers who can answer your questions and help you get on top of your tax issues. Talk to us if:

  • you want help understanding what you need to do
  • you’re having difficulty meeting your payment obligations.

Most businesses contact us to get help with finding the easiest and fastest way to:

  • manage records and paperwork
  • lodge correct activity statements on time
  • manage employer obligations (PAYG withholding, superannuation guarantee and fringe benefits tax)
  • get connected to the Business Portal to lodge activity statements online and view statements and transaction history.

Download Free Tax Support publication »

ATO Free Support
(Adobe PDF File)

Fair Work for Small Business

A new website has been launched to assist small businesses with understanding the Fair Work Act 2009 which came into effect on 1 July 2009.

An initiative of the Council of Small Business of Australia, some of the resources available on the new site include:

  • online webinars
  • guides
  • email newsletters
  • community forums

For more information, visit the Fair Work for Small Business website.

WorkCover NSW resources - Helping you manage workplace health and safety...

As a small business owner it's important for you to be aware of and be responsive to, any occupational health and safety (OHS) issues that may arise in your workplace. NSW WorkCover has developed a wide range of tools and kits to help you manage your OHS responsibilities.

Available on the WorkCover website, the health and safety resources include:

  • an online safety self assessment tool
  • an employee induction checklist
  • a small business safety checklist and starter kit
  • hazard profiles for a range of industries
  • forms for workers compensation and injury management.

For further information or to view the publications, visit the WorkCover website. - the Australian Government's principal business resource offers you simple and convenient access to all the government information, forms and services you need. It's a whole-of-government service providing essential information on planning, starting and growing your business.

  • Thinking of starting a business
  • Starting a business
  • Growing a business

A Guide to Starting a Natural Therapy Practice

A Guide to Starting a Natural Therapy Practice has been developed by the Australian Natural Therapists Association (ANTA) to assist students and new practitioners in getting the best start to their career and establishing a successful practice.

Starting a new practice can be challenging and this guide outlines some of the areas to be considered.

Find out more »

GST for Small Business

As a business, it is important to understand taxes that affect you. To help you understand your GST obligations, the Tax Office have released a booklet called GST for Small Business.

The booklet has a range of information on:

  • registering for business
  • issuing and obtaining tax invoices
  • claiming GST credits
  • GST reporting
  • paying GST.

Download a copy of this Booklet below. More information on GST Exemptions.

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