This post is originally published on BMG Business Solutions website. Here are the key changes and new measures when completing 2022 tax returns: COVID-19 Disaster Payments The COVID-19 disaster payment is a support given to workers who are adversely affected by state public orders, preventing them from working in their… read more →
Are you planning to get your SMSF? Before you do that, it’s worth understanding first what an SMSF is and how you can benefit from it. This article walks you through how it works and why many Australians are considering this investment. Understanding what an SMSF is and its benefits… read more →
Starting 1 July 2022, employers will need to pay super to employees earning below $450 per month. Similarly, the SG contribution will increase to 10.5% for all employees. More details on the super changes: SG contribution for low-income earners Employers will now make SG contributions to their employees earning less… read more →
Getting confused between super guarantee and super guarantee charge? In this article, we will walk you through how super guarantee charge, or SGC, works and other details you need to learn. Super guarantee charge The super guarantee charge is the additional amount you need to lodge and pay if you,… read more →
Business Activity Statement, or BAS, is a form submitted to the Australian Taxation Office by all businesses registered for GST. BAS is filed monthly, quarterly, or annually depending on your business structure. BAS Preparation ATO normally provides a statement to your business two weeks prior to the end of the… read more →
Since 2018, our team has been using DocuSign to email corporate secretarial documents, tax returns, and financial statements to our clients. This gives you easy access to our documents and a faster pace of processing them through this digital channel. Watch this video to know how to use DocuSign: … read more →
The COVID-19 pandemic brought many lessons about facing challenges, adapting to changes, and recovering from losses. Accountants in Australia are no different from other professionals that had to conquer the limitations brought by lockdowns. Working from the comforts of our homes may sound a good idea. However, it challenges the… read more →
You have until 31 October to claim payments for the third JobMaker Hiring Credit period. If your business is eligible, you need to: Register before 6 October through ATO online services or your registered tax or BAS agent Nominate your additional eligible employees by running payroll events through Single Touch… read more →
Outsourced bookkeeping and accounting have been a well-known strategy for many Australian businesses. With its popularity, many small businesses, companies, and firms are utilising this approach to gain advantage If you are new to this strategy, below is a quick guide to help you get started in outsourcing. Outsourced bookkeeping… read more →
In its aim to protect businesses, save and keep jobs through the lockdown, the NSW government has committed $5.1B worth of comprehensive economic support package, including more than $1B from the Commonwealth as part of a business and employee support program. What are the support available for my business? Eligible… read more →