As a small business owner in the hospitality industry, there are a lot of moving parts you have to manage. That is why, for many, it can be stressful when tax season comes around.
However, you should prepare early because filing your taxes with the Australian Tax Office (ATO) correctly can help reduce your tax bill significantly. For those in the hospitality industry, that reduced tax bill can be extra beneficial. Here are eight ways that businesses in the hospitality industry can reduce their tax bill.