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 →
As a business owner, it pays to organise business records to comply with the ATO requirements. These documents will support the information you submit to the ATO for tax returns and reports. The ATO has five rules for record keeping. They include: Keeping all records related to starting, operating, changing,… read more →
Starting 1 July 2021, the super guarantee rate will rise from 9.5% to 10%. The new superannuation guarantee contribution rate will apply for salary and wage payments made on or after the said date. Contributions for the quarter ending 30 June 2021 will be calculated at the old rate of… read more →
Now that the tax season is in full swing, managing time to complete compliance requirements will be more challenging. But there are simple ways you can do to take some of the pressure of. These 6 time management tips will also help improve your productivity. 6 Time Management Tips Write… read more →
Starting 1 July 2021, there will be superannuation changes that will impact the amount you can contribute and how much you can have in your retirement phase superannuation account. The current $1.6 million general transfer balance cap (TBC) will be indexed to $1.7 million. There will be no single cap… read more →
Tax is one of the most important challenges facing small, growing businesses. The impact of the pandemic brought changes on the business structure of many. Despite these challenges, opportunities are still existent to reduce taxes. Review bad debts Take time to review and assess outstanding debts if they can be… read more →
Before answering whether you should get an SMSF today or save it for later, it’s worth enumerating the benefits and its possible drawbacks. But first, let us briefly discuss what an SMSF is and why more Australians are setting up their own self-managed super fund. Understanding what an SMSF is… read more →
Its a really challenging time at the moment for all but no doubt we will all come out stronger at the other end. For some of us this means working from home – while keeping their kids from going crazy! Social distancing is an important part of us staying… read more →