Finance
Knog hits $1 million on Kickstarter
Cara Waters Knog raised a few eyebrows when it turned to crowdfunding to raise $20,000 for the Oi bell but smashed its target to hit $1 million on Wednesday.
The capital gains tax cost of companies
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gnsrn0.png/1459210406279.jpg)
Max Newnham Changes are needed to the small-business exemptions on capital gains tax.
Welcome to the cash-free cafe
![Saxon Wright, founder of Pablo & Rusty's Coffee Roasters, shows off his Frank Green cup at the Coffee expo at the ...](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/n/p/y/4/8/image.related.thumbnail.90x60.gnpz35.png/1459120963079.jpg)
Cara Waters Saxon Wright's coffee business turns over $10 million a year but he's going cash free at his latest cafe opening in Brisbane.
Crowdfunding by day, cleaning by night
![Getting a creative business off the ground can mean working multiple jobs.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/k/3/v/x/l/image.related.thumbnail.90x60.gnnxfg.png/1458603941395.jpg)
Abha Bhattarai Finding the money to get a creative business started can be a hard slog.
Accountants not just necessary evil
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gnmxbd.png/1458541245760.jpg)
Max Newnham How to ensure your accountant is more than a tax agent.
Early budget wish list for small business
![Small businesses are preparing a budget wish list for Small Business Minister and Assistant Treasurer Kelly O'Dwyer.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/n/k/s/r/5/image.related.thumbnail.90x60.gnn4n9.png/1458541484696.jpg)
Cara Waters Bring it on say small businesses as Prime Minister Malcolm Turnbull moves the budget forward to 3 May.
The GST fallout for small business
![MYOB chief executive Tim Reed says small businesses need GST reform.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/n/3/f/h/u/image.related.thumbnail.90x60.gnfu01.png/1457648231315.jpg)
Tim Reed GST compliance costs small and medium businesses more than $13.7 billion a year.
The 20-year wait for an invoice to be paid
![Stephen Kerdel, owner of Sunrise Carpet Cleaning, has waited up to six months to get paid for invoices.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/n/f/2/v/o/image.related.thumbnail.90x60.gnd47c.png/1457568196196.jpg)
Cara Waters Small businesses are facing big delays chasing payments with 24 per cent waiting more than six months for invoices to be paid.
Getting fit for business
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gnc93v.png/1457990147157.jpg)
Max Newnham When you're setting up a business, some costs are tax deductible.
Square arrives, but without tap and go
![Square country manager Ben Pfisterer is launching its mobile payment device for small business in Australia on Tuesday.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/n/c/4/4/8/image.related.thumbnail.90x60.gna9m9.png/1457390008475.jpg)
Shaun Drummond Square's mobile payment device is launching in Australia, missing one key feature.
Correcting income tax and GST mistakes
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gn6tfu.png/1457990147157.jpg)
Max Newnham If you've made a mistake the ATO enables taxpayers to amend returns and forms lodged.
'I pay more tax than Uber'
![Alyce Tran, founder of The Daily Edited, says her business is slugged with more tax than Uber.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/n/3/o/6/l/image.related.thumbnail.90x60.gn3hjc.png/1456390389035.jpg)
Cara Waters Small businesses are getting slugged while large multinationals pay minimal tax.
Timelio to link super funds with SMEs
![Timelio co-founders Charlotte and Andrew Petris have created a peer-to-peer platform for invoice funding.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/m/t/t/c/p/image.related.thumbnail.90x60.gmp5ol.png/1456254960759.jpg)
James Eyers Large superannuation funds are preparing to enter the invoice financing market via the fintech start-up Timelio, which has created a peer-to-peer platform to provide capital to small companies seeking to expand.
Avoiding tax black holes
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gmuhdp.png/1457990147157.jpg)
Max Newnham Don't let your business expenses fall into a black hole with no benefit from the expenditure.
Why do businesses fail – ego or ignorance?
![Dick Smith is just one of the high-profile collapses this year.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/l/z/y/r/p/image.related.thumbnail.90x60.gmoemr.png/1454903948788.jpg)
There have been some high-profile business collapses already this year but in the vast majority of cases, business failure can be avoided.
Tax payments all in the timing
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gmo152.png/1457990147157.jpg)
There's a knack to paying tax as you go so that you avoid a massive tax bill at the end of the year.
Betting the house on the business
![Whole Kids founders Monica and James Meldrum with daughter Chloe.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/k/y/j/q/1/image.related.thumbnail.90x60.gmlcpw.png/1454895691229.jpg)
Small-business owners are remortgaging their homes and going cap in hand to family and friends to fund their business ventures.
How to get cash to start your business
![Cedar Anderson and his father Stuart Anderson used crowd funding to finance their Flow Hive business.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/j/3/p/l/image.related.thumbnail.90x60.gmjooc.png/1454389798954.jpg)
Emily Chiantri From crowd funding to government grants, here are five top ways to get funding for your venture.
Budget blowout of $370 million for instant asset write-off
![Treasurer Scott Morrison on 2GB radio in Parliament House, Canberra, on Monday.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/m/i/e/a/o/image.related.thumbnail.90x60.gmixbl.png/1454308673250.jpg)
Cara Waters The popularity of the small business instant asset write-off measure has resulted in a short term hole in the budget.
To be or not to be registered for GST, that is the question?
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gmit8t.png/1457990147157.jpg)
Max Newnham There is much debate at present concerning Australia's GST system. There appears to be a movement growing to increase GST from 10 per cent to 15 per cent, and also to tax all goods and services rather than having some items being exempt.
It's all a matter of trust
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gmbtsz.png/1457990147157.jpg)
Max Newnham Small business owners have the ability to organise their affairs in the most tax effective way using a variety of business structures and one of the most popular is a discretionary trust.
It's still the economy, stupid
![Peter Strong, chief executive of the Council of Small Business of Australia, says confidence is up amongst small ...](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/m/p/5/v/0/image.related.thumbnail.90x60.gm8yim.png/1453373625136.jpg)
Cara Waters Our exclusive survey of small business owners and operators show their top concern is the Australian economy.
Claiming a tax deduction for cars
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gm8o1t.png/1457990147157.jpg)
Max Newnham In a family-run business, property and assets are often used for both business and private purposes
Paying the GST piper after ceasing business
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gm324a.png/1457990147157.jpg)
Max Newnham What happens when you have ceased trading but you appear to still owe GST?
The perils of funding business with your mortgage
![Entrepreneur Emily Carding with daughters Violet, left, and Holly on North Curl Curl Beach.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/l/l/e/g/l/image.related.thumbnail.90x60.gm0djc.png/1452055223710.jpg)
Duncan Hughes There may be hidden costs and expensive consequences for entrepreneurs chasing cheaper home loans, writes Duncan Hughes.
George Gregan-backed franchise goes into administration
![The chain of franchises is part-owned by former Wallabies captain George Gregan.](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/g/j/b/h/r/e/image.related.thumbnail.90x60.glz0ld.png/1459412729625.jpg)
Cara Waters Home ventilation franchise Ventis HQ, which had a turnover of $10 million, has entered into administration.
Traps to avoid when buying
![Max Newnham](/web/20160401110447im_/http://www.smh.com.au/content/dam/images/1/3/o/m/l/v/image.related.thumbnail.90x60.gls6sq.png/1457990147157.jpg)
Max Newnham It's a case of buyer beware when you purchase a business with a complicated business structure.