Tax Talk: Navigating Business Finance Basics

A group of aspiring entrepreneurs gathered at Social Co. House in Moree on March 7th for an informative session on the basics of business finance, with a particular focus on understanding tax obligations.

During the session led by Dianne Wilson from H&R Block, attendees learned about various important tax-related topics essential for businesses. The topics covered included:

• Business tax requirements.

• GST registration procedures.

• BAS preparation and lodgment.

• Record-keeping practices.

• A general understanding of taxes tailored to business needs.

The attendees actively participated in Q&A sessions and sought clarification on various tax matters relevant to their ventures.

One of the event's highlights was the invaluable resource bags provided by H&R Block, which included log books and informational materials. These resources and Dianne's expertise empowered participants with actionable insights to confidently navigate their businesses' financial landscapes.

Feedback from attendees was overwhelmingly positive, with many expressing gratitude for the practical knowledge gained. The session demystified tax obligations and provided attendees with tools and resources to manage their finances effectively.

As the session concluded, participants left with a deeper understanding of their tax obligations and a newfound confidence in managing their business finances.

This event, funded by the Federal Government's Murray-Darling Basin Economic Development Program and the NSW Government's Accelerating Regional Innovation Fund, was conducted in collaboration with Moree Plains Shire Council and aimed to provide startups with essential financial knowledge.

Thank you Dianne for sharing your invaluable expertise with us!

Dianne Wilson from H&R Block