Blog

Accounting software made our lives a lot easier since they came around. Before we had to calculate everything manually and there was a lot of thinking involved, whereas now, it is (or it seems?) a lot easier to manage the accounts. So, WHERE IS THE CATCH? There are many reasons why you should not trust… Continue reading Why You Shouldn’t Trust Accounting Software

Business owners face lots of tasks and responsibilities every day, and BOOKKEEPING is just as important as making your sales, as they say, YOU MUST KNOW YOUR NUMBERS! Hiring a professional bookkeeper will take away the burden of GST and many other things, including payroll. Payroll is one of the most important activities bookkeepers do,… Continue reading Payroll Responsibilities for Business Owners

On the 29th of March 2022, the 2022-2023 Federal Budget has been released. In this article, I have summarised the main points for you, in an easy and comprehensible way 🙂 For Business Owners– Small companies will see a tax reduction, from 30% to 25%.– Additional tax discount for small businesses from 5% (2015-2016) to… Continue reading 2022 Federal Budget Update

As the end of Financial Year approaches many business owners think about their own superannuation contribution. What is Superannuation?Superannuation is a regular payment that employers make every quarter to their employees’ superannuation funds, or, in other words, is the employee’s pension. Superannuation is mandatory in Australia, which means that each employer must pay 10% of… Continue reading Superannuation for Business Owners

The ATO has always picked random businesses and checked that their books are true and honest, and just recently, they have announced they will go after those with little care to their reports. The ATO now has advanced systems to track people’s lifestyles and compare them to what they declare. So, guess what, unjustified expenses… Continue reading The ATO is going after small businesses

From the 1st of January 2022, STP phase 2 has become mandatory in Australia. What is exactly STP? Let’s go back a few years. STP started in July 2018 for those businesses with 20 + employees. It has been designed to reduce employers’ reporting burdens to the ATO. After 1 July 2019, it has become… Continue reading Single Touch Payroll Phase 2 (STP)

The recent flood in South East Queensland and NSW has left us all overwhelmed and unprepared. Many lost their houses, vehicles, and so much more, and the last thing people might think of is their due or overdue tax. How does the ATO support those who have been affected by natural disasters? In case of… Continue reading Natural Disasters & Tax

I am often approached by small business owners wondering how and when they need to register for GST. So, what is GST? As most of you already know, is GOODS & SERVICES TAX. Do you need to register? No necessarily. GST is mandatory for those entities whose turnover is over $75,000 per year. However, for… Continue reading GST and when you need to register