Selling online is a great subject to write about as it is constantly changing and evolving. Each month new start-up businesses bring in new ideas. There are lots of opportunities to improve your online business for B2B or B2C. If you have any questions about eCommerce try our FAQs and Ideas Center or just send us a comment or email.
The deductions available for the costs you in incur setting up a website have long been a point of speculation, as the general principles available in Australian tax law were mostly invented before the internet was as prevalent or pervasive as it is now (or in some cases long before the internet existed at all).
On 14 December 2016 the Australian Taxation Office (ATO) has published their views on the topic in a public ruling titled: TR 2016/3: Income tax: deductibility of expenditure on a commercial website.
Through this ruling the Commissioner seeks to clarify the ATO’s expectations in relation to the treatment of expenditure incurred by a business in relation to its online presence. However, does it actually make commercial and practical sense?
We are getting asked more and more regularly about issues and considerations when thinking about selling or buying an existing online business.
Whether it be a large, high transaction online retailer or a relatively small boutique web store, it’s important to remember that you are buying a business (not just a website). As such, there is a process that should be followed to ensure you know what you are buying and are paying a reasonable amount for that investment.
The end of financial year (EOFY) rolls around every year and yet, just like the arrival of winter, it catches business owners by surprise.
While getting to the end of the financial year can sometimes feel like a sprint to the finish line. If you run an online business, then the EOFY can be a great opportunity to take stock of your business and review the plan and strategy for the year to come.
We have included below some tips both for surviving EOFY and for accelerating your business into FY2016/7.