From Christmas cash bonuses to overtime payments, many employers make extra payments to their employees at the end of the year. As an employer, you should be aware of how these payments arerequired to be reported to the Australian Taxation … Read More
Taxes
Understanding the ATO’s New Approach to Unpaid Tax and Superannuation
Understanding the ATO’s New Approach to Unpaid Tax and Super In recent months, the Australian Taxation Office (ATO) has made significant changes to how it handles unpaid tax and superannuation. This shift primarily targets businesses that refuse to engage with … Read More
Keeping on top of tax and expenses when self-employed – some tips and tricks
Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and … Read More
Key dates for September and October 2024
The new financial year is now already in full swing As a small business owner or manager, don’t forget the key compliance dates that are coming up in the next couple of months. KEY TAX DATES – SEPTEMBER/OCTOBER 2024 21 … Read More
Why you should move to Cloud Accounting
If you’re managing a small business, the chances are that you’re using one of the current crop of cloud accounting platforms. Whether your chosen software is Xero, QuickBooks or MYOB, these online accounting tools are now the standard for business … Read More
Getting your small business tax in order
With the 2023/24 financial year now wound up, it’s time to think about submitting your tax return and making sure you have the cash reserves put aside to pay the company’s tax bill. This short guide to getting your small … Read More
Your monthly activity statement (BAS) is due on the 21st
Your monthly activity statement is due by the 21st of this month. Use the following checklist to make sure you are ready for lodgement day: Have you allocated all bank transactions to the correct accounts? Have you verified that the … Read More
Your upcoming tax calendar for February and March
Welcome back to work after what was hopefully a restful and lovely summer break! And welcome to 2023, where we are truly looking forward to working with you and your business this year. In order for you to be across … Read More
When to Register Your Business for GST
Should you register your business for GST? Many business owners register their businesses from day one, regardless of income. Others, for example, many sole traders, choose not to register for GST until it is mandatory. However, it is common that … Read More
Your Q1 2023 Deadlines for the Diary
The new financial year has started with some changes – remember, super is now 10.5%, and most workers should be paid super on all ordinary earnings as the $450 monthly threshold no longer applies. We’ve highlighted some upcoming business lodgment … Read More