‘Small business and tax’ by Paul Clitheroe

Australians are an entrepreneurial lot. In a recent survey by recruitment group Kelly Services, one in five described themselves as ‘self-employed’, and of the rest, approximately half expressed a desire to work more independently. Clearly, running our own show holds real appeal but long-term success in small business calls for good management. Working for yourself isn’t always as risky as people believe, especially if you’ve done your homework and have a clear plan for success. The challenge for time-poor entrepreneurs often lies in managing the day to day administration of  the business. And it’s at tax time that self-employed workers often get caught out.

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